Student Loan Repayment That’s Faster Than Lightning
Paying off student loans is not an overnight process. There’s a lot of mitigating factors – time, money, and daily expenses – that can hold up forward progress.
The good news is borrowers aren’t alone in the fight for financial freedom. Tools and programs exist that help lower payments or demonstrate the impact of different repayment plans. Student Loan Genius helps dot the I’s and cross the T’s by finding new ways to inform and empower borrowers to fight debt head-on.
Vault allows users to easily view repayment programs that could lower their monthly payments. By doing so, users see what federal repayment plans they qualify for and how the plan impacts their loan payment timeline. If a user finds a repayment plan they’re interested in switching to, he or she can download a step-by-step walkthrough guide that walks through how to make the change.
If paying off debt faster is the priority over changing repayment plans, we can help there too. There’s a “Pay Off Faster” tab for users, which allows users to model how repayment time and interest accrued would be impacted by increasing a monthly payment.
Refinancing is also an option Vault can help with. If a user is curious about refinancing their loans, there’s a section in our tool for that, too. Users can see if the qualify for refinancing without actually pulling their credit. Resources are available to lower interest rates on monthly payments, accrued interest, or adjust repayment time – users judge what works for them.
These 3 perks are huge components of what makes Vault great to offer to employees to help them pay down their student loans. Contact us below to learn more.