LANSING, Mich.–Astera Credit Union said it is now offering a student loan debt repayment service through a partnership with ChangEd.
Astera CU said it is currently the only Michigan-based credit union that has partnered with ChangEd.
According to Astera, using ChangEd is easy. Members download the app to their mobile device. After adding their student loan and linking their account(s) to ChangEd, the platform beings to analyze spending data and automates savings for members through features like spare change roundups, savings BOOSTs, and more. This money then gets transferred to their ChangEd account automatically.
“When users reach a set balance threshold, the funds get transferred to their student loans, all in an effort to pay extra on those loans and eliminate that debt faster,” Astera explained. “By creating a less confusing, more dependable repayment plan for student debt, ChangEd members have collectively saved millions in interest and shaved decades off their student loans.”
“This partnership comes as the result of our longer-term, strategic approach to becoming known as a one-stop ‘Financial Wellness’ resource for our members, our Preferred Employer Partners, and for the communities we serve,” said CEO Martin Carter. “ChangEd will provide our members with another valuable resource to help them on their path to improving their personal financial health and wellness.”