Welcome to Student Loan Management by Betterment

Manage your student loans right alongside your 401(k) with this step-by-step guide.

Illustration of graduation caps thrown in the air

We’re excited you’re here and ready to tackle student loans! You now have access to our Student Loan Management tool through your employer and will be able to connect and view your student loans and make additional payments within the Betterment app, all alongside your Betterment 401(k). Watch the demo video or follow the step-by-step guide below to get started.

 

Connect your student loans

  1. Log in to your account and navigate to add a new account/goal.
  2. Click on the ‘Manage student loans' goal in order to start connecting your loan (see preview above).
  3. Click through and continue until you are able to identify your loan servicer. Enter your username and password in order to finalize connecting your loan.
  4. Click on ‘View my account’ in order to ensure you can see the new Student Loan Management goal. In order to connect additional loans, click on the ‘Connect new loan’ button on the top right corner and follow the instructions.

Set up a recurring payment

  1. Navigate to the ‘Recurring payment’ section.
  2. Click on ‘Set up recurring payment.’
  3. Similar to how you set up a contribution rate for your Betterment 401(k), decide on a percentage or dollar amount deduction from your paycheck to be contributed as an additional monthly payment toward your student loans (see preview below). If you are not eligible for a student loan match through your employer, you also have the option to set up your payments to be paid from a bank account.
  4. Identify which loan you’d like to have the recurring payment contribute toward. Betterment will provide you with an allocation recommendation here on which loan the payment will have the most impact towards.

Set up a one-time payment

  1. Navigate to the ‘Make payment’ button and click on ‘Make a one-time payment.’
  2. Follow the same instructions for setting up a payment as above.

Dashboard overview

Don’t forget to take advantage of all the resources available to you with the Student Loan Management tool. In the ‘Overview’ tab, you’ll be able to see your recurring payment, debt projections and payment history. If you are eligible for a match through your employer, you’ll be able to ensure you’re making progress against the eligible amount.

In the ‘Loans’ tab, you will find a holistic overview of your connected student loans and financial advice from Betterment based on an analysis of interest rates and loan amounts.

And lastly, in the ‘Settings’ tab, you will be able to customize your Student Loan Management goal. Here you will be able to change the picture, name or delete the goal entirely.