App Helps Students Payoff Student Loans

When reality hits six months after college graduation, it’s a lot to digest. Given the increasing amount of loans students need to take out to attend college, once those bills start coming in, not only can it be overwhelming, but it’s scary. Terms like principal amount, interest, consolidation, and the countless other words to express a mountain of debt seem never-ending.

Now there’s an app that at least makes it a bit easier. In order to streamline the process of dealing with student loans, Co-founder Brendon McQueen has created an app. Using a language that’s more engaging, and one that students can understand, Tuition.io is paving ways for individuals to manage and pay their loans.

Tuition.io launched as a beta in January 2013, and now it’s ready for its full launch. A personal finance platform, the app will focus on a student’s loan aggregation. Its main objective is to help students understand their loan history on what they owe, who they owe it too, and how to pay it back without the headache.

Mashable spoke to its Co-founder Brendon McQueen. Of the solution that the app will provide people, he said:

“If you think about how much people incur in terms of their student loan debt, overall, the outstanding debt is higher than credit card debt, auto loan debt … It’s something that people should take incredibly seriously because it can affect your credit. It’s something people should get more educated on to figure out their options.”

The app is easy to use with a sleek design and easy on the eyes look. When a student logs into the app, there’s a summary of monthly payments, and info on how to contact each lending service. Other features include, how much interest you’ll have to pay over time, charts and graphs to show repayment history, and an advice engine that makes recommendations according to what you can afford each month.

Is this a solution that will work for you?

[Image credit: zimmytws / Shutterstock]