Case Study: ChangEd achieves faster student loan payoffs and 30% higher onboarding conversions with Plaid

ChangEd helps users repay loans faster through better financial connectivity

ChangEd is a fintech app that helps borrowers pay off student loans faster by rounding up purchases, tracking repayment progress, enabling extra payments, and letting loved ones contribute. Faced with manual loan entry, limited loan linking, and a 2–4 day onboarding process, ChangEd turned to Plaid for secure financial connectivity to users’ bank accounts and student loan servicers.

By integrating Plaid’s instant account-linking and real-time transaction data, ChangEd reduced onboarding from days to seconds, boosted onboarding conversion by 30%, and saw paying users grow 200% (with revenue up 300% in 2019). Plaid’s connections (to 10,000+ banks and 90%+ of US servicers) helped ChangEd manage more than $2 billion in loans, facilitate $78 million in payments, and deliver personalized recommendations that help users save up to 40% over the life of their loans.

ChangEd

Nick Sky

Co-Founder