Written by: Mike Senecal
Edited by: Lillian Guevara-Castro
Student loans allow more individuals to realize their educational, occupational, and financial potential. But high student debt payments after graduation can reduce financial flexibility and discourage many from taking full advantage of their credentials.
There’s no substitute for sound financial management regarding student debt. Fortunately, financial services providers have created various solutions to help graduates manage debt more productively.
This list of the 10 best student debt solutions provides creative strategies to reduce educational costs, manage finances, increase income, and pay debt.
Changed
#1 Student Debt Solution for Micropayments
Changed is a repayment app that works for anyone with too much debt, including recent graduates with student loans to repay.
It’s easy to create an FDIC-insured savings account, link the loans you want to pay, and let Changed go to work. Changed automates savings and pays down loans according to the schedule that works for you.
Why We Love Changed
Changed is a set-it-and-forget-it app that works in the background to keep debt balances, including credit cards, personal loans, mortgages, and auto loans, moving in the right direction.
We love the payment flexibility it gives users struggling to overcome student debt and move on with their lives.
Key Info
- Founded in 2017
- About Changed
- Learn
EvoShare
#1 Student Debt Solution for Automatic Cash Back
EvoShare is a browser extension that works behind the scenes to find cash back savings.
Users may browse thousands of hotels, restaurants, and stores on the EvoShare website or let the extension trigger a popup every time they come across a participating merchant online while browsing the web.
Why We Love EvoShare
Many services help users generate cash back they can use to pay down student loans. But EvoShare lets users connect directly to saving destinations, including student loan accounts.
We love that EvoShare helps those struggling with student loans put cash back where it belongs.
Key Info
- Founded in 2015
- About EvoShare
- Learn
Laurel Road Student Loan Cashback Card
#1 Student Debt Solution for Credit Card Rewards
Most consumers are familiar with rewards credit cards that generate cash back and perks.
The Laurel Road Student Loan Cashback Card does that for student loans, allowing users to redeem 2% cash back toward any eligible student loan.
Why We Love Laurel Road
The Laurel Road Student Loan Cashback Card has a 0% introductory APR and requires no fees. It works with 95% of student loan servicers.
We love that the card helps users put student loans first when using card rewards.
Key Info
- Founded in 2006
- About Laurel Road
- Learn
Savi
#1 Student Debt Solution for Employer-Assisted Repayment
Hundreds of employers, membership groups, and financial institutions use Savi to offer workers, members, and customers debt-repayment tools and resources.
With Savi, consumers can access financial literacy and student loan education resources and connect with loan forgiveness and repayment options.
Why We Love Savi
“Options” is the watchword at Savi. It provides access to more than 150 repayment and forgiveness options, a free savings calculator, and copious resources for financial health.
We love that Savi goes the extra mile to help organizations help their people.
Key Info
- Founded in 2017
- About Savi
- Learn
Fastweb
#1 Student Debt Solution for Scholarships
Student loans aren’t necessary when you can pay for school another way. Fastweb is a free platform that connects students to college and trade school scholarships.
Fastweb provides financial education resources to help users understand their options and pay down student debt.
Why We Love Fastweb
Fastweb, founded in 1995, indicates on its website that it was “the very first college scholarship search website ever.” Today, it provides access to 1.5 million college scholarships worth more than $3.4 billion.
We love that Fastweb helps students pay for college with money they don’t have to repay.
Key Info
- Founded in 1995
- About Fastweb
- Learn
EarnUp
#1 Student Debt Solution for Faster Payoffs
Hundreds of lenders, servicers, employers, and credit unions use EarnUp to offer budgeting, debt management, and automated debt payoff solutions to more than 3 million workers and consumers.
The app helps student loan holders locate their loans and create custom payoff plans that align with their budgets and goals.
Why We Love EarnUp
EarnUp’s automated debt payoff solutions help users keep their priorities straight when managing money, syncing repayment with paydays, and fast-tracking payoffs to keep interest payments low.
We love that EarnUp does the heavy lifting to help users pay their loans.
Key Info
- Founded in 2015
- About EarnUp
- Learn
Candidly
#1 Student Debt Solution for Employee Financial Wellness
Debt management is a key to financial wellness. Employers, advisors, and financial institutions deploy Candidly to offer financial wellness solutions centered on student loan repayment.
Hundreds of leading employers, financial institutions, and record keepers use Candidly as a value-added financial wellness solution.
Why We Love Candidly
Candidly uses AI to optimize savings and offer personalized, actionable advice.
We love that the platform meets users where they are on their financial journey with solutions that can help them move forward.
Key Info
- Founded in 2016
- About Candidly
- Learn
GreenPath Student Loan Debt Counseling
#1 Student Debt Solution for Financial Counseling
GreenPath is a nonprofit that has empowered people to lead financially healthy lives for more than 60 years.
GreenPath’s student debt counseling resources are tried-and-true options for those looking to pay down loans efficiently.
Why We Love GreenPath
GreenPath offers many types of financial counseling in various formats, online and in person.
We love that the GreenPath team works on a nonprofit basis to put people first and find optimal solutions to thorny debt challenges.
Key Info
- Founded in 1961
- About GreenPath
- Learn
Climb Credit
#1 Student Debt Solution for Career Success
Climb Credit aims to align career investments with career goals, partnering with select institutions that offer skill-based education and accessible, affordable payment options to students.
Matching students with appropriate training improves success rates and helps students build better lives.
Why We Love Climb
Climb helps prospective students explore career paths beyond the stereotypical liberal arts education.
We love that it helps students understand that education and goals go hand in hand.
Key Info
- Founded in Climb
- About Climb Credit
- Learn
LendKey
#1 Student Debt Solution for Loan Refinancing
Those burdened with too much student loan debt may feel locked into a repayment plan that doesn’t mesh with their needs.
LendKey connects student loan consumers with refinancing and private loan opportunities that may provide a better fit.
Why We Love LendKey
The LendKey platform matches consumers with community banks and credit unions to find low-cost borrowing options.
We love that LendKey helps borrowers achieve their goals by generating lower interest rates to make student loan repayment manageable.
Key Info
- Founded in 2009
- About LendKey
- Learn
Student loan debt is a double-edged sword: It can provide a ticket to opportunity on a flight to permanent indebtedness. Those who consider college an investment in a better future must factor the price of student debt into their calculations to ensure they succeed.
That’s where the companies on this 10-best list of student loan debt solutions shine. A provider here can help wherever you are on your debt journey.
