What is the student loan feature?
Very similar to the credit card goal feature, Digit will help you save for and pay off your student loan debt when you set up a goal and connect with your loan servicer. Once a month it'll automatically send the money in that goal as an extra, supplementary payment. This is not meant to replace your regular or minimum monthly loan payment.
- Algorithmic savings
- Enabling auto-payments
- Go faster or set limits
- Track debt progress
- Pause or stop whenever
How does it work?
First, set up a student loan debt goal. After creating a goal to save to, go through the flow to connect it to your student loan servicer and your loan account. While that goal is open, Digit will save funds from your checking account to put into that goal, just like any other goal, and then send the amount saved as a payment monthly on the date that you set.
What else can I do with it?
After successfully connecting your student loan account with your goal, you can view your current balance, saves made towards your goal from checking, and withdraw funds back to checking if needed.