Millions of people have student loan debt, and with incomes declining, more people are looking for ways to help pay it off. SLOAN: #1 Student Loan App is here with new ways to do just that. Here is some of the app’s description from the App Store:
Student loans, simplified. Manage your loans, pay off your debt, crowdfund your payments and save money with SLOAN, the #1 student loan app.
SLOAN makes it easy to track and manage your student debt. Manage all your loans from an intuitive dashboard, calculate interest and pay your loans off in the order you choose.
Pay back loans automatically with one-time, weekly or monthly payment options, or pay as you wish. Highest interest rate first. Snowball method. Your choice! SLOAN gives you tons of ways to save and pay off college debt.
Save money for your payments by rounding up your debit or credit card purchases.
Get assistance paying back your loans from friends and family or crowdfund with help from the SLOAN community. Share your profile and get payments from those that care to help beat your debt.
SLOAN, short for student loan, is an app that helps connect users’ student loans all in one place and provides several options to help pay those loans off. SLOAN account creation can be made with an email address and password as well as Google account and Sign In with Apple options. Complete the profile with user information, colleges attended, and link student loan accounts. The app integrates with most student loan lenders. See all accounts synced within the app and make payments directly in SLOAN with linked personal bank accounts. Schedule payments out weekly, monthly, or on any schedule and budget.
What sets SLOAN apart from other student loan managing apps are the many options available for users to pay their loans back. Aside from scheduling out payments traditionally, members can use cryptocurrency, digital wallets, and even apply purchase round-ups via debit card to their loans. One particularly unique option included is peer payments. With their custom SloanMe link, borrowers can receive contributions from friends and family that go directly to their student loans. The app will notify users any time someone contributes to their balance. SLOAN also offers a way to establish an employer benefit contribution plan to receive employer contributions as well.
The app layout is clean and intuitive. Borrowers can see their accounts and loan fulfillment timelines based on payment decisions made in SLOAN and make adjustments. Calculate SMART savings based on extra payments to the loans and turn on a repayment plan for more help. Overall it is a well-executed idea for a widely known problem. One thing to mention, SLOAN does not refinance loans, it is just for management, and it does notify at the beginning of the process the SLOAN account is an FDIC insured account to manage and facilitate the payments.
SLOAN is certainly looking for any way to help student loan recipients take years off their loans. As they say, live the life you studied for. SLOAN: #1 Student Loan App is available now for free on the App Store and coming soon to Google Play.