Get a Better, Simpler Perspective of Your Student Loans with Tuition.io

A lot of people that go to college don’t get the luxury of having it paid for, and most students graduate with tons of debt to pay. Fortunately, for me, I had parents that saved their hard earned money and wanted to be able to pay my tuition. Well, fast forward ten years and I am back in school again, but this time, I am on my own. I knew I was going to have to take out loans to go back, and we have a plan to pay it all, but it doesn’t hurt to get an even better strategy to assess things.

That is where Tuition.io comes in very handy. It’s a new web app that helps me visualize my payments and what I need to do. By the time I finish school in about a year and a half, I want to be able to be in a good financial position to pay off the loan as fast as I can, which means I want to start paying on it now. Tuition.io can help with this, and does a variety of other things to help ease your mind when it comes to paying for college.

Getting Started

The first thing you are going to want to do is to add your loan(s) to the site so that it can take a look and analyze what you have to owe. You can add your federal or private loans that you took out to help pay for college. All you have to do is fill out some important information so that the app can find your loan and then get all of your payment information.

Adding your loan to Tuition.io

Adding your loan to Tuition.io

Using Tuition.io To Your Advantage

Tuition.io gives you a ton of tools to help give you a better financial understanding of your loan. The Dashboard gives you an overview of what you owe, your interest rate, how much you have paid off already, and some other important information. You also get a graph that shows you two things: your payment amount if you were to pay it with the regular monthly payments, and another graph that shows what would happen if you were to pay it above what you are required monthly. You can adjust the payment to show if you pay x amount of dollars above to see how it would affect the life of your loan. This can come in very handy, especially if you want to pay it off earlier.

Dashboard View

Dashboard View

The second main feature on the Dashboard is the calendar, which can be very useful when you are paying off your college debt. You can indicate what day of the month that your payment is due and then you can set an alert for Tuition.io to remind you each month. It’s a simple feature, but one that I find could come in very handy.

Calendar View

Calendar View

The other main feature that is worth mentioning is the Loan Options part of the site that can really help you when you are getting ready to repay your loan. There are a number of different options that you can choose from when it comes to repaying back your debt. You can find the one that you think may be right for you and add it to your repayment plan. From there, you can then click on the option and see a detailed overview of what the option entails, the pros and cons, and instructions on how to apply the option to your repayment plan. I love having this feature as it gives me a detailed view of all of my different options so that when I am ready to start repaying, I am well educated on whether I should go with one of these or not.

Information about a specific loan option

Information about a specific loan option

Simple, Yet Effective

The thing that I really like about Tuition.io is the fact that it was so easy to use and it had such a simple interface to understand. A lot of times sites can get you lost in the numbers and other fancy graphs and ways to analyze your money. Tuition.io keeps it simple by telling you what you need to know so that you can make the right choices when it comes to repaying your loan. It doesn’t have to be complicated and they want to keep it that way. The site may look a little plain, but that is fine with me because the main goal here is for me to pay my tuition and to be informed, not to have a fancy looking site.

Final Thoughts

Right now Tuition.io is in beta, and you can sign up and get started right away with the service. It is free to use and it will be interesting to see how they are going to monetize their app.  What’s great about it is that it takes the guess work out of paying your loan and gives you some great options that you may not even know about. Down the line, I would love to see the ability to be able to pay my tuition straight from within the app itself, but I am not sure if that is something that can be done or not. Regardless, if you are in college or even still paying down your student loans, I would highly recommend checking Tuition.io out.

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