5 Best Student Loan Apps For Paying Off Debt Faster

Living with a lot of debt hanging over your head can be incredibly stressful. It also limits your ability to spend your hard earned money on fun things. Paying off student loans sooner rather than later can be a huge relief. As an added benefit, you will also pay lower interest on the shorter loan term.

Fortunately, there are many apps out there to help pay off student loans faster. Each of these student loan apps is designed differently. Some help you create and stick to a budget. Others help you create a payment strategy. Still others are willing to help you save or invest. The one thing they have in common is that they help you pay off your student loan debt as quickly as possible.

These are the top 10 student loan apps that help pay off loans faster. Check them out and choose one that fits your short and long-term financial goals and lifestyle.

1. Debt Payoff Planner

Debt Payoff Planner is among the most used student loan apps. It is designed to help you create an effective repayment strategy to pay off your student loans as quickly as possible.

When you enter all your debts into the app, you will be able to easily compare different debt repayment strategies. You can then choose the strategy that suits you best. With a debt avalanche strategy, you can pay off your student loans with the highest interest first. With a snowball strategy, you can pay off your student loans with the lowest balance first. You also have the option of creating a custom plan that includes making additional payments to pay off your debts faster.

The Debt Payoff Planner app contains some useful visuals that indicate payment progress and other parameters. This is great to help you stay on track with your loan payments. This student loan app is free for basic version. The premium version, which offers additional features like payment reminders and planning templates, costs $1 per month.

2. Changed

Another very popular student loan app, ChangEd works differently than Debt Payoff Planner app. If you want to take advantage of small savings, this is a good choice for you. The ChangEd app works by making your everyday purchases and paying off those savings quickly.

You link your debit or credit card to the app. The app then keeps track of all the purchases you make on linked cards and rounds each transaction to the nearest dollar. The difference goes directly to your ChangEd account. These small savings accumulate and when the balance reaches $50, it is automatically transferred as the selected student loan payment. Those $50 recurring down payments can help you pay off debt faster and save money with interest.

The app also has a feature that allows you to transfer large deposits for payment whenever you have extra cash. Other benefits of the ChangEd app are the ability to track your progress, calculate interest savings, and decide when you will be debt-free.

3. PocketSmith

PocketSmith is a free student loan application. It gives you an overview of your finances, making it easier for you to stay on top of your debt payments. Its dashboard displays all balances and transactions from multiple accounts in one place. The dashboard also displays your income, expenses, total value, and live bank feeds.

This comprehensive view of your money gives you a good idea of ​​where your money is going. This makes it easy to determine where you can cut expenses to save cash for your student loan payments. Regular use of PocketSmith can help speed up your progress and pay off student loans faster. The app has a free basic plan and a paid plan with lots of extra features.

4. Undebt.it

Undebt.it is another free student loan app that helps you get out of debt quickly. The user-friendly interface makes it easy for you to monitor all your debts in one place.

The app also provides you with multiple payment strategies to choose from. If you can't figure out which payment plan is best for you, the app can help. It suggests an effective payment plan based on the income and debt information stored on the device. You can change withdrawal plans whenever you want.

Undebt.it offers many additional features including the ability to keep track of due dates, payments, and loan balances. This makes it easy to know how much interest you will pay on your expected payment dates. The app is free to use.

5. Fidelity Spire

Fidelityspire is different from other student loan applications. It offers investment tools that most other apps do not. The interface also allows you to create and track your short and long term financial goals.

You can use the app to invest in stocks and exchange traded funds. This allows you to earn additional income that can be used to pay off your debts faster. Returns can be as little or as much as you like. The idea is that earning a small amount regularly can help you pay off your debts early.

The Fidelity Spire app provides efficient ways to pay off student loans, in addition to many other features. Users of the app can access many perks such as the chance to win $30,000 if they meet certain conditions. This is the best student loan app for anyone who is interested in investing to earn extra money.