Student record

A student loan repayment app

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Student loans have always been a major stressor for recent or upcoming graduates. As you navigate your first job, find housing, and try to save money, adding thousands of dollars in student loan debt can feel like a dark cloud hovering over your head.

The reality is that having trouble repaying your student loan can have negative effects on your financial and mental health. It can quickly become overwhelming, so your best bet is to have a plan in place for how to pay off your debt. That’s why apps like Chipper have been designed to help you optimize your loans and reduce your debts at a faster rate, making the path to debt elimination more realistic.

Chipper is a student loan repayment app that helps users manage their debt by introducing them to understandable loan forgiveness programs, lower monthly repayment plans, and a “Round-Ups” feature so you can get rid of your debt faster. If you need help paying off your student loans, especially since the federal loan forbearance period ends in May, Chipper is a good place to start.

Below, Select reviews Chipper’s features and fees to help you decide if this platform is right for you.

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Chipper app review


Chipper’s standout feature is its Round-Ups tool, which allows users to reduce their student loan balance with spare change from everyday purchases. Once their private or federal student loans are linked to the app, as well as their bank account, users will see their purchases made from their debit card rounded up to the nearest dollar and the difference will automatically go towards paying off their debt . This works similarly to the rounding feature in the Acorns investing app, which automatically deposits spare change into a diversified investment portfolio for you.

Chipper also connects you to federal student loan forgiveness programs you probably didn’t even know existed. After you link your loans and information to the app, it checks for discount plans you could potentially qualify for. Then you compare each program and after finding the right one for you, Chipper will guide you step by step through the application process.

If you don’t qualify for a rebate program, Chipper can still guide you through finding an income-based repayment plan and possibly help you lower your monthly payment.

In the future, Chipper users will eventually have access to cash back when they pay off their student loans. Moreover, they will be able to use the application to increase their credit. Keep in mind that Chipper is not a lender and therefore does not offer student loans or student loan refinance.

In order to save even more money, it may be advantageous to refinance your student loans. Refinancing allows you to potentially get a lower interest rate on your loan, which will lower your monthly payment and save you money in the long run. Select SoFi Student Loan Refinance ranked as the best overall company to refinance your student loans. However, keep in mind that if you have federal student loans and refinance them with a private lender, you may lose federal benefits, such as income-contingent repayment and government loan forgiveness.

The Chipper app is available for free download in the App Store (for iOS), where it has 4.2/5 stars, and on Google Play (for Android), where it has 4.4/5 stars, at the moment where this article was written.


One of the main advantages of Chipper is that it currently does not charge users any fees to access its services.

Although this may change, no fee may be of benefit to anyone, especially those on a tighter budget, but still want to be proactive about their student loans.

At the end of the line

Chipper is ideal for those who want to ease their student loan anxiety and need clarity on how to get started. It gives you enough guidance to make sense of your federal loans and remission programs, but also gives you that extra motivation to pay down debt consistently with the Round-Ups feature.

Beyond apps, there are also financial products you might also want to consider to really make a dent in your student loans. For example, with the SoFi credit card, cardholders receive 3% cash back for a year when you set up direct deposit with SoFi. After that, earn 2% cash back on all eligible purchases when redeemed to pay off SoFi student loan debt. Read Select’s full review to learn more about the SoFi credit card.

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Editorial note: Any opinions, analyses, criticisms or recommendations expressed in this article are those of Select’s editorial staff only and have not been reviewed, endorsed or otherwise endorsed by any third party.