Contact: Nick Sky, contact@changedapps.com
Chicago’s ChangEd to Appear on Shark Tank Jan. 28
CHICAGO — ChangEd, an app that rounds up the spare change from your everyday purchases to help you pay off your student loans sooner and for less in interest costs, will appear on ABC's popular Emmy-Award winning reality show Shark Tank Jan. 28 at 8 p.m. CT.
The show will feature ChangEd’s founders and Chicagoans Dan Stelmach and Nick Sky, who also are brothers, as they pitch the Sharks for the opportunity to invest. The episode will be available thereafter at this link.
“The idea for this company came from our own personal pain paying down student loans,” said ChangEd CEO Nick Sky. “So it’s gratifying to have this national audience, given student loan debt now totals over $1.4 Trillion and affects over 44 million Americans.”
When ChangEd users link their main credit/debit cards, the app automatically rounds up any purchases to the nearest dollar and puts that change toward your student loans.
The faster users shave down the principal, the less interest they pay. The app already has been used to pay down more than $100,000 in student loans nationwide, and an upcoming feature will allow parents and spouses to link their accounts and join the effort.
Stelmach and Sky launched ChangEd in 2016. The magic, they feel, is in the idea that once you set up the account, you can forget it. ChangEd is designed to work in the background while you continue to live your everyday life.
Signing up for ChangEd is simple and secure. ChangEd uses bank level security encryption and never sees or stores sensitive bank details. All funds are stored in personal FDIC-insured accounts and then applied to the loans.
ChangEd is currently available in the Apple App Store and an Android version of the app is expected to launch in mid-2018. Another upcoming feature will allow parents and spouses to link their accounts and join the effort.
About ChangEd
ChangEd is a mobile app that rounds up the spare change from your everyday purchases to help you save interest on your student loans. By simply linking your main credit/debit cards, the app automatically rounds up any purchases to the nearest dollar and puts that change toward your student loans. The faster you shave down the principal, the less interest you pay. The app already has been used to pay down more than $100,000 in student loans since launching in 2017. An upcoming feature will allow parents and spouses to link their accounts to join the effort! ChangEd is a member company at Chicago Flagship tech incubator, 1871 and is a member of the University of Chicago's Polsky Incubator.
