Nick Sky is the co-founder of ChangEd, an app that helps student loan holders pay down their debt quicker and more efficiently. ChangEd is design to align with a borrower’s natural spending by facilitating change roundups on everyday transactions and applying those funds to their student loans. Welcome! [2:37] Student loans are a massive problem in America and tons of people get stuck into paying them off over long periods of time. Do you think the cost of education is going to become easier to bear in years to come or do you think the problem will get worse? The root of the problem is because it’s so easy to get loans and money Universities and campuses are spending tons of money improving their grounds It’s still great to get a degree, on average you’ll make $1 Million more over a lifetime There are other options but it might still exceed inflation [10:29] What’s one of the biggest mistakes you see young adults make when it comes to their student loans? Extending payments Forbearance & deferment  Income based repayment plans have consequences Don’t pay off over 25 years! [11:21] Tell us how you came to form your company with your brother (Dan)? Late 2016, Dan was looking at his student loans and after 3 years he owed more than he borrowed Decided to look at change round up to apply it to student loans People save on average $30-$50 every month By increasing your contribution you’ll save thousands! [13:29] I read an old interview you did where ChangEd had a goal to send more than $100,000 in student loan payments by the end of 2017. You recently hit a new goal in total student loan payments people have made, could you tell us a bit about that and where to from here? Goal in 2017 was to do $100,000 in payments, all with spare change. The goal for 2018 was $1 million, which was met early September. Download ChangEd in the appstore [19:50] If you have one piece of advice for people with massive student loan debt ($75k+) what would it be? Ignoring your debt! People have hundreds of thousands in student loan debt, so many people ignore it (costing them thousands!) Sponsor [22:2] Credible– start decreasing the amount of interest you have to pay on your student loan by refinancing today. See chainofwealth.com/credible for more details. Value Link Round [22:42] What is your saving or retirement plan? Having student loan debt and a bit of credit card debt, number one goal is to pay off the debt for now and then start saving [24:27] Do you have any other books or podcasts you can recommend? The Obstacle Is the Way Book by Ryan Holiday [25:35] Favorite Quote? Embrace the broom- don’t be afraid to do the small things [27:7] Parting piece of advice? Pay attention to your loans, setup auto debits but be aware of what interest is doing to your loans. Even though you’re in debt life will go on so enjoy yourself. Support this podcast at — https://app.redcircle.com/shows/11f32da4-3081-471f-bf51-ea341b89ab1d/tip