How does Spared work?

Spared is a mobile app that helps you pay off your student loans faster by giving you that extra little boost to pay more than the minimum. It’s super simple! With your permission, we sync your bank account and the cards you use for everyday spending with your student loan account. When you buy something, let’s say a large cold brew for $3.70, Spared rounds that transaction up to $4.00. That extra $0.30 is transferred from your bank account to the Spared app and then paid towards your student loan on your monthly due date. You take care of your existing payments. We take care of the spare change that will go towards quickly reducing your principal. By simply rounding up your everyday charges, you can save thousands in interest payments and get rid of your student debt years faster. So, what are you waiting for?