Givling - an online trivia game that is helping students to pay off their loan debts

[Bouzoo]

We don't have student loans here but I'm aware that many countries do so figured this might interest a few people.

 

What is it and how does it work? Givling is a trivia game that launched March 4, for which you get one free play daily, and every other game costs 50 cents with 30 transaction fee. But you don't have to play to get you loans paid off. You can not play and just stay in "queue". If you do, you get less money, but if you decide to compete, you get matched in groups of 3, you answer questions and you get ranked. When the funding reaches $10 million, the money is divided. The highest scoring players have a chance of winning a $4 million prize pool, while others in queue are getting some part of $5 million. The players are getting 90% of the funds, which means the remaining $1 million is going into daily prizes.

 

Gayle Okumura Sullivan, Givling’s director of marketing, says the game is a melting pot of several modern concepts.

“It’s a wonderful combination of many concepts pulled together: the interest in crowd funding, the interest in online games and more casual games like the trivia kind of games,” Sullivan says. “It’s applying these two concepts toward something good, which is helping fund student loan debt.”

While students could choose to play if they so wished, Sullivan says it isn’t necessary for students to compete in trivia play to have their loans paid.

“Those with student loan debt do not have to play the game at all,” Sullivan says. “They are in the queue. They are just waiting for the loan to be funded.”

There are two different ways for players to win cash prizes. Every day at noon the highest scoring team will split a daily cash prize. The amount for this prize changes daily and is at the top of the page on Givling’s website.

Additionally, once a complete “Givling” – $10 million – is funded by the fee paid by players, $5 million is distributed to student loan holders in the queue and $4 million is distributed amongst the highest scoring players. The remaining $1 million goes toward the daily cash prize. 90% of all the funds raised by the game are given away to loan holders and players, Sullivan says.

 

 

Apparently it's already helping some students

 

IMPORTANT NOTE: If you decide to participate, check if your state allows it, because some don't. At the moment, Givling director is working on changing that.

 

I'm sure some will find some pros and cons in all of this, but as a concept I think it's a positive thing, if it works out as it's supposed to that is. What do you think?

 

Sources: 1, 2

[Deli]

Sounds like a scam. 

 

Before the fund reaches $10 million, the company will disappear together with all the money.

[Paralectic]

This sounds fishy

[DimasRMDO]

[Deletive]

I wouldn't do it. 

[ChineseChef]

I agree with @Deli, sounds like a scam. 

 

That and even if it isn't, its basically low stakes gambling.  This sounds like a lot of people putting in a few bucks (likely way more than they should), and then some of them get to win.  Like any kind of gambling.  It would likely be better for all these students to pay off their loans directly.  Cause if 10k people pitch in a dollar to help someone, we can't all do that for each person.  And even then, 10k sounds like a lot, but when you have 40k+ (some100k+) of debt, 10k really isn't that much.  Don't get me wrong, it would really help, but we don't all get to benefit.  Cause its super easy for 10k people to help 1 person, but not easy for 1 person to help 10k people.

[Trik'Stari]

Sounds like a scam to me.

 

Although no more a scam than my student loans are lol

[Delusional Phil]

Sounds fishy to me ... Maybe they are baiting us ...