For all you parents out there who are seeing your kids graduate from college with more debt than they can handle: get ready to celebrate. Thereโs a new rewards program in town that helps your kids get debt free faster. Itโs calledย SmarterBucksยฎ, and members earn rewards on the money theyโre already spending. Then those rewards become extra student loan payments, which can be used to pay downย anyย student loan, whether federal or private. The best part? Redemption is automatic and signing up is free.
But hereโs where a smart rewards program gets revolutionary: SmarterBucks also offers free Gifter accounts, which letโs people who donโt have student debt of their own earn rewards on behalf of someone who does. That means family and friends (like you!) can get in on the action, helping the ones they love get out of debt even faster.
Earning rewards is easy:
- Shop with your favorite brands at the SmarterBucks Marketplace and earn up to 10% back in rewards from retailers like Target.com, Banana Republic, J. Crew, Groupon, and more.
- Check out their SmarterBucks Exclusivesโunique, new ways to earn even more rewards.
- Apply for a SmarterBank Visaยฎย Debit Card, which earns SmarterBucks on everyday purchases like grocery and gas.
Plus, gifting is free!
With a SmarterBucks Gifter account, gifting rewards is easy. Hereโs how it works: every month we transfer the rewards you earn to your loved oneโs SmarterBucks account automatically and for free. Choose who to give your rewards to and weโll take care of the rest.
What are extra student loan payments really worth?
Normal rewards programs give you points or dollars you can usually use toย buyย something. SmarterBucks, on the other hand, uses those rewards to pay off debt faster. This actually increases the value of the rewards you earn. Think about it like this: if you earn $15 in SmarterBucks and gift that to a loved one, theyโve not only paid off $15 in student loan debt, theyโve avoided paying accruing interest on that $15 for the rest of their loanโs repayment period. Depending on their interest rate and the length of the repayment period, that $15 payment could reduce the total cost of their debt by double or triple that.
The SmarterBank Visa Debit Card is issued by The Bancorp Bank pursuant to a license from Visa U.S.A. Inc.ย The Bancorp Bank; Member FDIC.