Among the many pressures of college life, financial worry is a major one. A national survey revealed that as many as 70% of college students experience money-related stress, often affecting students so much that they can’t focus on their studies. Luckily, there are lots of places to turn for help. Here are three apps and online tools to help you get back on track with your finances.
Say you buy a sandwich for $6.47 with your card. In all likeliness, you won’t miss that extra $0.53, so what this iOS device app does is round up every purchase to the nearest dollar, then deposits the change into your ChangEd account. Without even noticing, you will be accumulating money here and there in your everyday life, and once your balance reaches $100, ChangEd sends this payment to your student loan. The app costs just $1 a month, which is more than worth the easy breezy method of tackling your student debt.
This free online loan calculator tackles your student loans in two different ways. Once you’ve made an account and added your loan details and added a payment scheme that you can stick you, you either start paying off via snowball or avalanche method. The snowball method tackles the smallest loans first, gradually building momentum (like a snowball), until you’re in control of your debts. The avalanche method tackles the loans with the biggest interest first, as the more you pay off, the smaller the interest is.
Student Loan Hero
Offering both online tools and an app to keep your financial life in order, Student Loan Hero functions as a dashboard to consolidate all of your student loans and services into one place so you can track your progress and make an action plan. They offer you tips and advice, how to use different repayment options, in-depth loan summaries and analysis, and an online calculator. Once you’ve made your choice about which student loans make the most sense for you, you can head over here to sync them up and start making your financial life easier.
Student loans and financial worries shouldn’t be the focus of your time at college. There are plenty of ways to tackle debt and loans without sacrificing the fun that college should be.