Paying off our student loan (or loans, if you’re unfortunate to have several) is never fun or stress-free, but there are apps out there that make the process less stressful. One of those – and one of the best – is SLOAN, available to download on iOS today and coming soon to Google Play.
SLOAN helps you track, manage and pay off your student loans faster and more efficiently. You can track and view all the important info for up to 30 loans – including repayment dates, interest rates and outstanding balance. They help you optimize your repayments, if you want, using repayment strategies like snowball and highest interest first.
You’ve probably heard of apps that round up your credit and debit card purchases so you can save the loose change. It’s pretty common for people to save around $100/month or more (we’re looking at you, Amazon shopaholics) which can go a long way towards your student repayment. But it’s tempting to spend that money on more exciting stuff, right? With SLOAN, you can save your rounded-up change and have it go directly to your student loan payments. You may be able to pay off your loan without even realizing!
Peer to peer giving is another way you can repay your loan. Well, other people can repay your loan for you. By tapping into the kindness of friends, family and even the rest of the SLOAN community, people can choose to contribute to your loan repayments on a one-off or recurring basis. The money goes directly towards your student loan, too! If your family won’t help, perhaps your employer will. Using the employee benefit plan (which is really simple to set up, by the way) your employer can help with repayments.
With a wide range of features, from tracking and loan management to easy money-saving features, there’s something to help everybody pay off their student loans faster and easier. Check out the app on iOS today and coming soon to Google Play!