Over the past few years, there has been significant growth in students’ loans for pursuing higher education. According to Forbes, student loan debt in the U.S. has reached $1.6 trillion in the first quarter of 2020, an increase of over 116% during the past 10 years. It seems that loan repayments have become a way of life for students with debts stretching across decades. Hence, with such piling up of debts, it becomes important to make timely payments and keep a track of your monthly installments. So, if you’re looking forward to having a simpler life without worrying about your student loans, we have brought you an app that will help you manage your monthly payments and save money.
SLOAN app is the best student loan repayment app that helps you to manage your student loan and make repayments on time. Using this app, you can easily calculate interest using the student loan calculator and pay your loans off in the order you choose.
So, let’s get started with the SLOAN app review.
SLOAN is one of the best financial technology platforms that blends payment solutions and charitable giving to efficiently manage student loans and create a personalized repayment system. With the help of the SLOAN app, borrowers can combine their loans from multiple lenders into one easy-to-understand platform.
The app also offers novel and patent-pending repayment methods, including the transfer of money between bank accounts, crypto, and digital wallets from inside the application.
Using SLOAN, borrowers can also enjoy a broad range of options such as paying off student loans weekly or monthly, paying off extra to highest interest loans first, or paying off smaller loans faster. They can also set up automatic deductions from their bank account or automatically apply purchase round-ups via debit card.
For more information on the SLOAN app, read on.
Bryan Harris, the founder of SLOAN, came up with the idea of launching a financial platform for students from his own harrowing experience of repaying student loans. With over six figures of debt weighing him down, he fought to keep track of the various loans and found it even trickier to get ahead of them.
This troublesome experience motivated him to launch the SLOAN app. This one of the best loan managing apps simplifies the process and helps students to manage and track their loans in one place. SLOAN even allows family, friends, your employer, and even those you haven’t met to help contribute on your behalf.
“Student loan debt is the plague of our generation.”
Bryan Harris, Founder
SLOAN app offers a number of benefits to students and guarantees easy tracking of debts. Here are some of the SLOAN features that make it one of the best financial management apps.
1. Get help from others: The SLOAN app can be used for crowdfunding student loan debt. The app notifies when someone contributes to your student loans and allows you to contribute to others within the SLOAN community who need help just like you. You can also share your profile and get help from those who want to help you clear your debt using this student loan payment app.
2. Smart saving calculator: With the help of this student loan app, you can calculate your savings based on extra payments to your loan(s) and turn on a repayment plan with a single tap.
3. Employer benefit plans: The SLOAN student loan app also offers Employer Benefit Plans where your employee can help you beat the student debt. The SLOAN benefit plan for employers makes it one of the best apps for college students
4. Round-up your purchases: The Round-Ups from your debit card and checking account purchases are accumulated and transferred from your checking account to your SLOAN account when they reach $5. This helps to save money for your payments.
5. Easy repayments: The app allows autopilot loan payments on behalf of borrowers on a weekly or monthly basis. They can also pay extra to highest interest loans first or pay off smaller loans faster.
6. Calculator interest and payment plans: Use the SLOAN app to calculate interest and payment plans to see when you’ll be able to finish paying off your loans and how much total interest will you have to pay in the years to come.
The SLOAN student loan app has helped a lot of students and families in managing student loan debt. Moreover, you can also use this app for crowdfunding student loans with help from the SLOAN community.
SLOAN’s Employer Benefit Plans allows your employers to help you out with your loans. All these features make the SLOAN app one of the best loan managing apps for students.
The SLOAN app is free to use. It is currently available for iOS users and coming soon to Google Playstore.
Design- 4.0 stars
Usability- 4.5 stars
Features- 4.5 stars
Reliability- 4.0 stars
Overall, the SLOAN app is one of the best apps to manage your student loans. Using this student loan payment app, you can enjoy all the benefits of this app from the comfort of your home or office.
What we loved the most about this student loan app is the crowdfunding feature. You just need to download this student loan repayment app, and without any hassle, you can manage and pay off your debts. It’s really simple and easy to use. If you have an app that needs to be talked about, get your products reviewed by MobileAppDaily. Feel free to check out our other reviews as well.
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