What if we said that there was a way to pay off your student loans without even realizing it?! Well, that could be true if you use SLOAN to help manage, track and pay off your student loans. Combining purchase round-ups, peer to peer giving and efficient repayment methods, SLOAN can theoretically help you pay off your student loan years early, without being a huge financial burden.
The intuitive dashboard helps you keep track of your loan – or loans – with all the essential info you need right at your fingertips. You can look at amount owed, repayment schedule, interest rates and more. You can make one-off payments or set up recurring payments, using their payment strategies like ‘highest interest first’ to pay off your loans in the most efficient way.
When it comes to getting the cash together to pay your loan, SLOAN is a great tool. The most useful of its money saving features is – in our opinion – the purchase roundups. Every time you make a credit or debit card purchase, the total is rounded up and the difference is paid directly towards your student loan. All the coffees, amazon purchases and cinema tickets add up over time, and so will the change collected by the app. Expect to save $70 or more per month using this feature alone. You can also get your friends and family to do the same, which will boost your savings significantly!
Another way you can save even more is through peer to peer giving. If friends, family or the SLOAN community are feeling generous enough, they can contribute directly towards your student loan repayments on a one-off or recurring basis. It’s a great way to reduce the financial burden on yourself! There’s also an employee plan where you can get your employers to sign up and contribute towards it, too, with the full confidence that all money given can only go towards your loan.
SLOAN combines several features – from loan management to efficient repayment and awesome saving methods – into one powerful package that could literally help you pay off your loan years earlier. Download the app today on iOS and coming soon to Google Play!
