15 Best Student Loan Apps To Pay Off Student Loans
Over the years, student loans constitute one of the largest sources of debt in the United States and it takes about 20 years to pay off such loans. It is a thing of burden living with debt hanging over your head.
Unpaid debt can be scary and missing payments can lead to fees and damage to your credit. It can also hamper your ability to spend money on things you desire. Paying off your student loans faster can be a huge relief as it provides you leverage to spend your money on other ventures.
Fortunately, there are numerous student loan apps that help students pay off loans faster. Although, each of these student loan apps is designed differently with special features that can help you create and adhere to a strict budget.
With these student loan apps, you can create a payment strategy, manage your earnings, save, invest and repay your debts. Proper use of these loan apps will help you pay off your student loan debt quickly.
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15 Best Student Loan Apps To Pay Off Student Loans 2024
Below is a list of the 15 best student loan apps to help you pay off student loans faster. Go through them and choose the one that best fits your short- and long-term financial goals.
1. Debt Payoff Planner
Debt Payoff Planner is one of the best and most widely used student loan apps in the United States. The app is designed to help debtors create an effective payment strategy to pay off their student loans.
With the Debt Payoff Planner, you get to choose from different strategies that work best for you. The app offers some useful indicators that track the progress of your payment and other parameters.
Although the Debt Payoff Planner app is free for the basic version, the premium version cost $1 a month and offers additional features such as payment reminders and planning templates.
2. ChangEd
ChangEd works differently from other apps. The app is a good choice if you’re looking to take advantage of micro-savings. ChangEd allows you to link your student loans and your financial accounts.
With every purchase that you make with your debit card, ChangEd automatically rounds the purchase up to the next dollar and puts the difference in an FDIC-insured account. Those savings can help towards early repayment of your student loan.
Although the app is free to download, they charge $3/month from your ChangEd balance. Additionally, ChangEd has some features that let you see your loans in one place and have the opportunity to earn a cash bonus.
3. EveryDollar
Designed by RamseySolution, EveryDollar is a budgeting app that allows users to create budgets that track their money and spending habits. The app allows you to link your accounts and view all of your financial information on a single dashboard.
Although the basic version of the app is free, the premium version goes for $59.99 for three months, $99.99 for six months, and $129.99 for 12 months.
4. Givling
Givling offers one of the best opportunities to pay your student loan. Upon signing up, the app automatically places you in a team of three and you and your teammates will participate in a trivia contest. The more points you earn, the higher you move on the Givling queue.
Users on the top of the queue have the opportunity of getting their college loan repaid by Givling. The app offers only two trivia games for free each day, however, you can pay additional fees to play more trivia and earn more points.
5. Undebt.it
Undebt.it is another loan app that can help you settle your student debt. The app revolves around the debt “snowball” method, where you pay student loans with the highest balance first, and the “avalanche” method, where you pay student loans with the highest interest rates first.
With this app, you can enter your debt information and see how quickly you can pay off these loans using the two methods. The app is free but the Undebt.it+ costs $12 with additional functions including text message reminders for payments, savings challenge plans, integration with You Need a Budget and other useful tools.
6. Mint
Mint is one of the best budgeting apps that can help you track your finances and settle your student debt. With this app, you can link all of your bank accounts, credit cards, investment accounts, and loans and view them on a single dashboard.
Additionally, the app allows you to build and track your budget automatically. This can help you watch your spending and pay off your student loan faster.
7. Fidelity Spire
Designed by the investment company Fidelity, Fidelity Spire is a free app that helps young adults achieve their short- and long-term money goals. With this app, you can create goals and keep track of them. Additionally, you can link your accounts and view everything on one dashboard.
Furthermore, with Fidelity Spire, you can invest in stocks and ETFs for as little as $1. The app allows access to Fidelity’s Student Debt Tool, which offers tips to pay down the debt.
8. PocketSmith
Another important app that can help you settle your student loan is PocketSmith. The app helps you stay in control of your finances. With PocketSmith, you can see all your bank accounts, credit cards, loan accounts, income and expenses, and financial forecasts on a single dashboard. By so doing, you can prioritize your spending which can help pay off your student loan.
9. Qoins
With Qoins, you can pay off your student debts using different strategies. Once you’ve signed up, you can choose your payment strategies such as payroll deductions, purchase round-ups, or smart savings based on your checking account’s balance.
Based on your selected strategy, Qoins will track your accounts and send additional payments to your lender when possible. Furthermore, the app can help you attain your financial goals.
10. Quicken
Quicken is a popular financial app that can help you upset your college loan. With this app, you can monitor all your accounts, credit cards, investments, and loans on a single dashboard. Once you have linked your account to Quicken, the app will synchronize your data and build a dashboard where you can access everything.
Additionally, you can transfer money between your accounts and pay your bills directly in the app. The app cost between $35.99 – $105.99 per year.
11. Digit
Digit is a popular budgeting app that can help you manage your personal finances. One outstanding feature of this app is that it makes your budget for you by analyzing your income and spending pattern. You can link the app to your accounts and in turn, they will help set aside money for bills that you can’t access.
Digit also tracks your spending and notifies you of your balance and allocates it towards your financial goals. As a student, you can set paying off your student loans as a goal. It cost $5 per month for savings only and $9.99 per month for budgeting, saving, and investing.
12. Debt Payoff Assistant
The Debt Payoff Assistant is an iPhone app that lets you access all your debts in one place. Although it lacks features such as account synchronization or savings, it also offers a practical way of tracking your student debts.
13. Upromise
Best known as a college saving app, Upromise can also be used to pay off your student loan. The app helps you to earn cash back on everyday purchases. Additionally, you can earn rebates for in-store and online grocery purchases.
Furthermore, if you link your credit or debit card, you can earn cash back for dining out at restaurants. Once you have reached the payment threshold of $50, you can transfer your rebates to either your checking or savings account.
14. Chipper
Chipper is one of the best student loan repayment apps. With Chipper, you can link your debit or credit card and make online purchases. Interestingly, Chipper rounds up every purchase to the nearest dollar and put the difference toward your student loan balance, sending the payment directly to your services.
15. Thriv
With Thriv you can save and repay your student loan faster. The app helps you to define and obtain your financial goals which can be your student loan repayment. With the app, you can set a goal, plan your budget and monitor your progress all in one dashboard.
