Author: McKinley Corbley / Source: Good News Network
An app that allows students to nickel and dime their way out of debt has just paid off $1 million worth of student loans.
ChangEd is a mobile app that rounds up a user’s everyday purchases to the nearest dollar. For instance, if a person is buying a cup of coffee for $2.
45 with the credit or debit card that is linked to the app, ChangEd will round the payment up to $3 and then squirrel away the extra $0.55 cents to an account insured by the FDIC.When these small amounts of change eventually pile up to $100, the app then applies the money to the user’s student loan debt.
The Chicago-based startup was featured on…
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