• FAQs

    Some answers to questions you may have

    How much does it cost to use ChangEd?

    ChangEd is free to download on the App Store and charges a simple $1/month fee from your ChangEd balance. We need to do this because it covers our costs to move money and store your funds in a personal FDIC insured account. This also helps us cover other costs for sending payments and keeps our disco ball powered. A buck a month to save you thousands of dollars, take years off of your loan, and reduce the need to budget for these extra payments seems like a fair deal, right??

    How can I find my student loan info?

    This is probably the toughest part of the whole process. Most borrowers like to ignore those statements and let the servicers make their money. A LOT OF MONEY! Not your money though, you're fighting back! We've build out a resources page to help find all of the required information. We've put together a list of some of the most common servicers and are working on adding more servicers regularly. If you need help filling out your student loan information please email us - [email protected]

    How secure is my information?

    Security is the most important thing to ChangEd! We've worked really hard to make sure all ChangEd members have their information secure. This includes your banking credentials, (which are never stored on our servers and are encrypted via bank level security standards) Personal information (which is kept in a secure database for payment and account set up purposes only) and anything else that you share with us! If you have any questions about how your information is used and stored please email us!

    How are my transactions rounded up?

    Magic...well not really. Math actually. Once you link your main spending account ChangEd analyzes your spending and makes transfers to your personal FDIC-insured ChangEd account. ChangEd makes transfers when your accumulated change reaches at least $5 in posted transactions. Sometimes banks post transactions in batches and we want to be budget friendly! ChangEd never withdraws more than $10 in one day in case you go on a spending spree and a ton of roundups occur.


    Here's an example:


  • I signed up and linked my account and don't see transactions yet!

    We're glad to see you're eager to start saving! Give it a couple of days before you see any transactions in the ChangEd app. ChangEd begins analyzing transactions on the day you sign up. However, we only round up POSTED transactions. If you have a bunch of pending transactions...check back in a couple of days to see if they have posted. Banks sometimes post transactions in batches.

    How are my payments applied?

    There are strict federal guidelines on how extra payments are applied to federal student loans. (if you have private loans, check to see how your lender applies extra payments) To ensure that payments are applied in the most effective manner, we'll contact you before your first payment is sent with instructions on how to do that. It should be easy peasy!

    When are payments sent?

    Payments are sent after you accumulate $100 of change roundup in your ChangEd account. We do this because this is how servicers want their payments. It'd be a mess if we sent them payments one nickel at a time! This will also let you monitor how much you're saving and see how much these payments affect your loans. Think you'll never get to $100 in spare change saved?? Average users save $30-$50 each month! That's going to make an impact on those loans.

    Can I link my credit cards? How does that work?

    Two answers. Right now, only if your credit card is under the same account as your checking. (e.g. Chase bank accounts with a checking account and a Chase credit card under the same account) ChangEd will analyze all of your spending under that account, and make transfers from your main checking account.


    In the near future, you'll be able to add stand-alone credit card account to your main checking account even if it is with another bank. (e.g. Add your Chase checking account and later link your American Express credit card for ChangEd to analyse your spending and round up transactions.) In this case we would round up transactions on your AMEX and make ChangEd transfers from your Chase checking account. We don't want to be adding to your debt, right?

    My bank isn't listed. Can I still use ChangEd?

    ChangEd want to help everyone pay down their student loans effectively! In the next few weeks, we are expanding coverage from 60 of the largest banking institutions in the country to over 9,000! This will include some of the smaller banks, credit unions and online banks that many ChangEd members requested. Look out for a coverage update email from us. 

    Do you like PB&Js?

    Yes. Always. Yes.

    Can I send you guys feature requests?

    Of course! Send any ideas and improvements over to [email protected] and we can chat about how we see them fitting into the ChangEd mission!

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