Spared sends your accumulated spare change towards your student loan service provider on the 15th of every month along with instructions to apply the payment to your principal balance. Because student loan service providers are bloated and inefficient (wonder how they got that way?), the money won’t reach your loan until the last business day of the month. We like to think that they’re spending that time contemplating their mortality while staring at your greater than the minimum payment. You see, your loan service provider doesn’t want you to pay more than the minimum. They make more money off you if you take the path of least resistance. They don’t make it easy, but we don’t care. We’re going to get out of this together, with or without their help.