These two brothers are helping you pay student loans off faster.
“One day, I was sitting at work, looking at my student loan statement, and realized my balance doesn’t really move, even after 3 years of payments.” Co-founder Dan Stelmach stated. “And I told myself, something has to change.”
Dan and his brother Nick created an app called ChangED, which can help you pay off your student loans. It directly links to your bank account and, for every transaction you make, the app rounds up to the nearest dollar. All of that spare change gets put into a bank account and gets sent off to your student loans. It even allows you to add on friends and family so their spare change can go towards paying off your loans.
Americans own over $1.48 trillion in student loan debt, which is spread out over 44 million Americans. That means that students who graduated in 2016 have an average of $37,172 worth of student loans.
“We always see student loans as a family affair, so if you yourself use ChangeEd and you can talk you mom or your aunt to join in with you, you can pretty much multiply your savings.” Dan stated.