4 Financial Apps That Will Help You Pay off Your Student Loans
Getting a secondary education is always a great idea - you’ll increase your chances of getting a higher income, you get to learn about many different subjects, and you’ll meet a lot of great, like-minded people. One of the biggest downfalls of college, though, is the price. Those extra two to eight (or more) years of education can cost you thousands of dollars. Spending so much money can hurt, but that’s where student loans can help you out. Yes, you’ll have to pay them off later (which is a total bummer), but you won’t have to worry about paying for school while taking your classes. Keeping up with your student loans, and eventually paying them off can be an easy task, thanks to these four apps:
ChangEd is an app that’s designed to help you pay off student loans by collecting spare change from your everyday purchases. Available on the App Store and Google Play, this app will automatically send a payment to your loan service every time your change amounts reach $100. The best part about ChangEd? It’s free!
2. CreditWise from Capital One
While this app doesn’t directly help to pay your student loans, CreditWise helps you keep a close eye on your credit score (which is a very important component in paying off those loans). The app makes it simple and quick to check on your credit score, by including a credit score simulation tool that lets you know how certain activities and purchases will affect your score. CreditWise is available on the App Store and Google Play, and you don’t have to be a Capital One member to use the app.
3. Debt Payoff Planner Calculator
Available on the App Store, the Debt Payoff Planner Calculator is a free app that helps you plan out a way to repay those loans. After entering your current loan balance, APR, and minimum payment amount, the app will create a customized debt repayment schedule for you. You will have the option to choose from three payoff strategies: debt snowball, debt avalanche, and custom.
4. The Sallie Mae Mobile App
Being one of the largest and most popular student loan services, Sallie Mae offers various loan options for students, and has now created an app to help with the repayment process. Available on Google Play and the App Store, the Sallie Mae app gives you notifications for payments and a quick pay option to easily make payments on multiple loans.