A loyalty card that helps customers pay off their student loans has been released.

It's called Feejoa, and it's being touted as the world's first loyalty card program that allows a person to gather points to pay down student debt.

Feejoa co-founder Hilary Lewis said the programme will help the thousands of Kiwis who owe a total of 14.8 billion to the government.

"We really want to see those 730,000 people move somewhere towards being debt free and getting ahead with their lives."