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Chip: Paying Off Student Loans

Chip: Paying Off Student Loans

Round-Up. Chip Away. Cut Debt

13 ratings
4 reviews
🌟 Lifestyle
💰 Finance
Free

Details

  • Released
  • Updated
  • November 5, 2020
  • September 2, 2026

Features

Developer

Chip, LLC
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About

This app helps you pay off student loans faster by automatically saving spare change from your purchases. It rounds up transactions to the nearest dollar and uses the accumulated amount to make direct payments towards your debt, reducing interest and loan term.

✓Automated spare change round-ups
✓Direct loan payments
✓Interest payment reduction
✓Reduced loan term length
✓Connects to 10,000+ financial institutions
✓IFDC secured banking account
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What's New in Chip

1.4.6

September 2, 2026

We have introduced a new subscription process that allows users to conveniently pay for their subscription directly through their connected bank account. Additionally, the user interface has been updated to provide a more modern, seamless, and user-friendly experience.

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User reviews

Most RecentHighest RatedLowest Rated

Also scammed no way to contact anyone, withdraw, or cancel

Signed up for what I thought would be a good service, connected through Plaid and everything seemed to work smoothly. I had some issues connecting other accounts so I went to reach out and turns out the email address (the only way to cancel, withdraw, etc.) does not work and bounced back. I tried to delete my account thinking that might trigger a refund or stop further withdrawals but it appears to have just deleted all my data so now going to contact my bank.
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srosas88srosas88

SCAM

Scammed me processed payment from bank but gave me an prior message now won’t let me get past the part that says I have to pay and no way to contact anyone
TiffanynorrisfosterTiffanynorrisfoster

Possibly defunct app

Won’t load, website has no contact for support, last update 3y ago. Bummer!
DNPXNDNPXN

Won’t load

Tried opening it up a dozen times but won’t get past the loading screen
hanabutterflyhanabutterfly

FAQ

How does Chip help pay off student loans?

Chip automatically rounds up your purchases to the nearest dollar and uses the spare change to make direct payments towards your student loans. This process helps reduce the overall interest paid and shortens the loan repayment term.

What is the monthly fee for Chip?

Chip charges a fee of $1.99 per month for unlimited spare change round-ups and unlimited direct loan payments based on your spending habits.

Does Chip connect to my bank account?

Yes, Chip connects to your bank account to debit the rounded-up amounts. It also connects with over 10,000 financial institutions and your credit card to facilitate payments directly to your loans.

Is my money safe with Chip?

Your spare change is held in an IFDC secured banking account until it accumulates to over $25, at which point a payment is made directly to your loan. The app aims to provide a secure method for debt repayment.

What devices does Chip support?

Chip is available on iPhone and iPod devices. It is designed for users who want to manage their student loan payments on the go.

How often is Chip updated?

The latest version of Chip is 1.2.4, which was last updated on February 10, 2021. This indicates a release and update cadence that users can expect.

What is the age rating for Chip?

Chip has an age rating of 4+, making it suitable for a wide range of users interested in managing their finances.

Does Chip have ads?

No, Chip does not contain advertisements. The app's monetization is based on a monthly fee for its services.