Domino’s is Giving Away $1 Million of Pizzas as Student Loan Repayments Restart
As federal student loan payments start up again this month after more than three years of hiatus from the federal government, 44 million Americans will suddenly have less discretionary income, which is likely to impact consumer spending. But Domino’s Pizza is ready for the effects of consumers’ lightened wallets, and announced Wednesday that the company will be giving away $1 million of free pizzas to anyone with student loan debt.
Starting on Oct. 25, Domino’s will be giving away a limited number of “free Emergency Pizza for student loan debt” codes, until $1 million of these coupons have been claimed. Interested education borrowers can apply for the promotion here.
“Student loan payments have resumed for millions of Americans, and we wanted to help in our own little way by using the power of pizza to do something nice for our customers,” Kate Trumbull, Domino’s senior vice president and chief brand officer said in a statement. “When life gives you loans, Domino’s gives you free pizza!”
The promotion is part of Domino’s ongoing “Emergency Pizza” offer, which gives customers that order a medium pizza a future offer for a free medium-sized, two-topping pizza, for use whenever it’s a “pizza emergency.”
This is not the first time restaurant promotions have lined up with socioeconomic events and trends: Tax Day promotions are common every year, plus restaurants provided help for employees the last time there was a government shutdown in 2019, and more recently—a few New York City restaurants offered free food for striking Hollywood actors and writers.
Although Domino’s promotion is a fun way to lean into the current economic zeitgeist, restaurants will likely have to readjust expectations for consumer spending moving forward. After more than three years of not having to pay off student loan debt (to the tune of $300 per month, on average, according to U.S. News), companies are mindful of the pressures that these new repayments will bring, especially as Deutsche Bank analysts predict that the student loan payment restart will hit restaurants the hardest, as NRN previously reported.