At a Glance

When it comes to paying off student loan debt, there are a number of strategies you can use, each with pros and cons, depending on your personal situation. One way is to take advantage of mobile applications designed specifically to help you pay off debt.

These apps can help you manage your payments and deadlines, consolidate debt, calculate how much interest you’ll pay, and estimate when you’ll finish paying your debt back. This can be especially helpful for student loans, considering you likely have multiple loans with different amounts, due dates, and interest payments.

Apps to help you pay off student loans

The app that you should download to help you pay off student loans is simply the one that you’ll consistently use and stick to. Different apps offer various advantages and features, so here’s a comparison to help get you started:

Debt management apps

1. Debt Payoff Planner

Cost: Free for basic version; $24 for 2 years of Pro version

Available: Apple App Store and Google Play Store

Average rating: 4.7/5

About: This app helps you aggregate all your debts, including loans. Once your accounts are added, you can create strategies directly in the app for how you’re going to pay each month, and how you’ll lower your balance over time. You’re able to organize your debts based on your preferred strategy. If you upgrade to the Pro version, you have access to templates, printable plans, payment reminders, and web access.

Apple: https://apps.apple.com/us/app/debt-payoff-planner-tracker/id1009323715

Google: https://play.google.com/store/apps/details?id=com.oxbowsoft.debtplanner&hl=en_US&gl=US&pli=1

2. ChangEd

Cost: Free

Available: Apple App Store and Google Play Store

Average rating: 4.45/5

About: Designed specifically for paying down student loans, this app makes it easy through incremental automated savings. First, input your loan information and link up to two bank accounts or financial institutions. Then, the app will round up your purchase amounts and automatically transfer the savings as a payment toward your loan. You can monitor how much is in your ChangEd account, transfer bonus deposits if you have extra cash, and easily see how much interest you’ll save from the additional payments.

Apple: https://apps.apple.com/us/app/changed-automate-debt-payoff/id1164559383

Google: https://play.google.com/store/apps/details?id=com.changEd.administrator.changedapp_production&hl=en_US&gl=US

3. Debt Free

Cost: $0.99

Available: Apple App Store

Average rating: 4.5/5

About: Designed around the debt snowball method, you can order your debts from smallest to largest and get a comprehensive view of what you owe. It also shows early payoff dates, helps you develop a payoff schedule, and shares how making extra payments can affect your timeline for payoff.

Apple: https://apps.apple.com/us/app/debt-free-box-snowball-payoff/id1240710873

4. Debt Manager

Cost: $0.99

Available: Apple App Store

Average rating: 4.15/5

About: This app is great for visualization, as it uses charts and graphs to show you how different repayment strategies can affect your payoff timeline. You can arrange your debts based on your preferred payoff method (like snowball or avalanche), and run analyses on each of them. Use the in-app calculators to determine how extra payments can affect your timeline, help you understand your debts better, and compare debts side-by-side.

Apple: https://apps.apple.com/gb/app/debt-manager/id482482660

5. Mint

Cost: Free

Available: Apple App Store and Google Play Store

Average rating: 4.65/5

About: Not only does Mint help you track and pay off your debts, it also allows you to manage your money overall, including your budget and financial goals. Monitor your spending, receive bill-pay notifications and credit score updates, and set debt payoff goals. This app is great for financial management overall but may be too broad for some looking to focus solely on repaying student loan debts.

Apple: https://apps.apple.com/us/app/mint-budget-expense-manager/id300238550

Google: https://play.google.com/store/apps/details?id=com.mint&hl=en_US&gl=US

6. EveryDollar

Cost: Free (basic version)

Available: Apple App Store and Google Play Store

Average rating: 4.5/5

About: Designed by financial expert Dave Ramsey, this app helps you create a monthly budget and ensure the money you need to reach your financial goals is saved. Add your monthly income, plan your expenses, and track your spending. The app helps you set a realistic budget while working toward paying off your loans, especially by identifying where you can spend less money to re-allocate to your loans.

Apple: https://apps.apple.com/us/app/everydollar-budget-your-money/id942571931

Google: https://play.google.com/store/apps/details?id=com.everydollar.android&hl=en_US&gl=US

7. Undebt.it

Cost: Free

Available: Web only

About: This site allows you to track all your debt in one place, and helps you choose the right plan for repayment (such as snowball or debt avalanche). It then organizes your debts accordingly.

Apple: https://apps.apple.com/ao/app/undebt-payoff-your-debt-calc/id1512498841

Website: https://undebt.it/

Debt repayment apps

8. Survey Junkie

Cost: Free

Available: Apple App Store and Google Play Store

Average rating: 4.4/5

About: You won’t earn enough to completely repay your loans, but this app can help you earn a little extra cash on the side by completing surveys and earning points, which you can later redeem for cash on PayPal or a direct bank transfer.

Apple: https://apps.apple.com/us/app/survey-junkie/id1462195529

Google: https://play.google.com/store/apps/details?id=com.survjun&hl=en_GB&gl=US

9. Google Opinion Rewards

Cost: Free

Available: Apple App Store and Google Play Store

Average rating: 4.6/5

About: This is another app where you can complete opinion polls, merchant surveys, and hotel reviews to earn extra cash. The app notifies you when there’s a survey available, and you can redeem your earnings through PayPal.

Apple: https://apps.apple.com/us/app/google-opinion-rewards/id1227019728

Google: https://play.google.com/store/apps/details?id=com.google.android.apps.paidtasks&hl=en_US&gl=US

10. Ibotta

Cost: Free

Available: Apple App Store and Google Play Store

Average rating: 4.65/5

About: Earn cash back on items you’d normally buy from retailers like Target or Walmart. With more than 300 retailers you can access, you simply add offers and upload pictures of your receipts to receive cash through payment platforms like PayPal and Venmo.

Apple: https://apps.apple.com/us/app/ibotta-save-earn-cash-back/id559887125

Google: https://play.google.com/store/apps/details?id=com.ibotta.android&hl=en_US&gl=US

FAQs

Depending on your situation, you may have access to programs to help pay off student loans. For example, the Public Service Loan Forgiveness (PSLF) program will pay off your student loan balance if you meet certain criteria and work for the government or a nonprofit. You may qualify for other grants or forgiveness programs depending on your financial circumstances and area of study.

Even if you don’t have a steady income or savings to contribute to paying off student loans, you have some options. There are four places to start when thinking about how to pay off debt with no money: create a spending plan, increase your income and put all extra earnings toward debt, contact creditors to negotiate, and consider debt relief services such as consolidation.

It can make sense to pay off your student loans early if you already have an emergency fund, have started saving for retirement, and don’t have other debts you must pay off first. By paying off your debts early, you’ll pay less over the life of the loan because you’ll be charged less in interest. However, be sure your loans don’t have any early payoff penalties.

Yes, a student loan app can potentially save you money by offering tools for effective loan management, budgeting assistance, interest rate optimization, and timely payment reminders. However, results may vary, and it’s essential to choose a reputable app and carefully consider its features for your specific financial situation.

Some student loan apps are free while others have an initial cost to download. Some of the free apps charge for upgraded or ad-free versions. But, many allow you to use the basic functions for free.

Yes, many student loan apps offer features beyond loan management, such as budgeting tools, financial education resources, and overall financial planning assistance. These can help users work towards broader financial goals, such as building savings, improving credit, and achieving greater financial stability.