Digit is a savings app where users are able to take small amounts of money from one account and automatically transfer funds into another account. However, now the savings app can be used to help pay off a person's student loans. In order to do this, users need to link a student loan account with their Digit account. After that, users can set a goal to pay off their loans and Digit will transfer funds accordingly.
The company previously added support for paying off credit card debt, and the venture into student loans is a next logical step.
Digit states that the majority of people who graduate college do so with student debt. Digit also states that $50,000 is the average sum owed by an American household.
Image Credit: Digit