ChangEd FAQs

Some Answers to Questions You May Have 

How much does it cost to use ChangEd?

ChangEd is free to download on the App Store and charges a simple $1/month fee, but Tropical Financial has partnered with ChangEd to you give you this sweet tool at no cost. So if you’re a member of Tropical Financial Credit Union, there’s no cost to you!

What are micro-deposits? 

Your TFCU account will need Micro-deposit verification to allow transfers. ChangEd does this for security and to ensure that you own the account we'll be making transfers from. When you're ready for your first transfer, you'll need to securely enter your account and routing number in your TFCU ChangEd app so we can submit two Micro-deposits to verify your bank account for transfers.

Micro-deposits are two small test deposits sent to your bank account to verify that we have the correct checking account information for you. The micro deposits usually arrive within two to three business days and are listed on your bank statement as a deposit from "CHANGED LLC". Once you see these on your bank statement please go back into the settings of your app and verify them. Once complete, ChangEd will start nickel and diming your student loan!!

How can I find my student loan info?

This is probably the toughest part of the whole process. Most borrowers tend to ignore those statements and let the servicers make their money. A LOT OF MONEY! Not your money though, you're fighting back! We've built out a resources page to help find all of the required information. There you will see a list of some of the most common servicers. We are working on adding more servicers regularly. If you need help filling out your student loan information please email us at

How secure is my information?

Security is the most important thing to ChangEd! We've worked really hard to make sure all ChangEd members have their information secure. This includes your banking credentials (which are never stored on our servers and are encrypted via bank-level security standards), Personal information (which is kept in a secure database for payment and account set up purposes only), and anything else that you share with us! If you have any questions about how your information is used and stored please email us!

How are my transactions rounded up?

Magic...well not really. Math actually. Once you link your main spending account, ChangEd analyzes your spending and makes transfers to your personal FDIC-insured ChangEd account. ChangEd makes transfers when your accumulated change reaches at least $5 in roundups. ChangEd also never withdraws more than $10 in one day in case you go on a spending spree and a ton of roundups occur.

Here's an example:


What is a servicer?

A servicer is a company that manages/services your loans. Think of it this way...If you borrow a federal loan, you are borrowing money from the government. The government then gives that loan to a servicer to manage all of your payments. Examples of servicers: Navient, Nelnet, Great Lakes, Mohela, Etc.

Not seeing transactions?

Transactions first need to settle with your financial institution and then they will post in your ChangEd ChangEd app within a few hours.

If you just signed up and made purchases, please give it at least one day to see transactions. If it has been more than 24 hours and you are still not seeing transactions, be sure to check you have the right account selected to be analyzed for roundups. It can be a possibility that a savings account was selected to be analyzed instead of a checking account.

If this is the case, please give it a day from selecting the account to see transactions to post due to ChangEd analyzing future transactions and not previous transactions. To see what accounts are selected for roundups please go to settings--banking--your linked account--and select "choose accounts to roundup". Be sure to click confirm after re-selecting.

If you have checked these steps and still feel transactions aren't showing, please email us at There are rare cases where ChangEd doesn't receive transactions from your financial institution. This can be resolved most of the time.

How are my payments applied?

There are strict federal guidelines on how extra payments are applied to federal student loans. If you have private loans, check to see how your lender applies extra payments. Most Federal loan servicers will apply additional payments to late fees first (if applicable), second to unpaid interest, and then principal. There are ways to send payments directly to the principal of the loan with certain servicers. Please read the questions below.

Can my payment be applied directly to the principal of my loan?

Depends. Most federal loan servicers have strict guidelines they have to follow. Additional payments go towards late fees first (if applicable), interest second, and then principal. It kind of stinks but you will still save, SAVE A LOT if you make additional payments! On the other hand, private student loans have a bit more leniency. You can send them a letter stating that you want all additional payments sent to the principal of your loan.

Click here for our template to send to your servicer. It’s super easy to fill out and will save you even more! If you have any questions about the template, shoot us an email at

When are payments sent?

Payments are sent after you accumulate $100 of change roundups in your ChangEd account. We do this because it gives us time to verify your loan info and streamlines payments. It'd be a mess if we sent them payments one nickel at a time, funny, but messy! This will also let you monitor how much you're saving and see how much each payment affects your loans. Think you'll never get to $100 in spare change saved?? Average users save $30-$50 each month! That's going to make an impact on those loans.

Not seeing a payment?

If you've received a notification that ChangEd has sent a payment to your loan servicer, IT'S TIME TO CELEBRATE!!!! WOOOHOOOO! We get super excited every time we make a payment. You can even say we are the most excited people to send student loan payments.

Anyway, getting your payment to your student loan servicer ASAP is very important to us. Payments take 5 to 10 business days to be visible on your student loan portal. Most of our payments are sent electronically, sent directly to the loan servicer, and post within 5 days. Certain loan servicers still require paper checks and can lead to longer payment processing. You may be thinking...Checks??? Who uses checks?? Yes, we understand and feel the same way. We are working to improve this process every day to send payments even faster.

If it has been some time and you don't see your payment posted, please feel free to reach out to us. We are here to help you achieve student loan freedom and want to make sure your payment hits your loan to knock out interest and time off your loan term! Each penny counts!

Email us at

I have multiple loans under one servicer, can I direct a payment to a specific loan?

Possibly. Most servicers allow payments to be directed to a specific loan. When signing up to ChangEd, you will input your main account number that your servicer gives you. You may also see multiple individual loans under your account. These loans usually have some type of loan identifier which usually are a series of numbers or letters. If you'd like to direct your payment to a specific loan please shoot us an email with your loan identifier at To find the correct account information click here to be directed to our resource page.

Can I link my credit cards? How does that work?

Yes! You can analyze transactions for roundups from a linked credit card. Simply add a checking account to fund your transfers first. (e.g. Add your Chase checking account and later link your American Express credit card for ChangEd to analyze your spending and round up transactions.) In this case, we would round up transactions on your AMEX and make ChangEd transfers from your Chase checking account. We don't want to be adding to your debt, right?

Do you like PB&Js?

Yes. Always. Yes.

Can I save more than just rounding up my spare change?

VERY SOON! We are working on implementing more saving features!

Can I send you feature requests?

Of course! Send any ideas and improvements over to and we can chat about how we see them fitting into the ChangEd mission!

I'm a parent/spouse/loved one, Can I help pay off a loan for someone?

You are awesome! Well, we're sure you already heard that when you told the person who has student loans that you'd be willing help pitch in on their loan. When signing up to create a ChangEd profile, please use YOUR legal name and when we ask for specific student loan info please input the primary loan holders legal name. If you borrowed a parent plus loan and you are the parent that borrowed please input your name again in the "Name on Loan" field. Please reference the "What is Name on Loan?" question below to get a better understanding. Have more questions about this? Email us at

What happens to my funds if I close my account?

Your funds are always yours! When ChangEd makes transfers they are stored in a personal FDIC insured account and sent directly to your loan servicer once you reach your payment threshold. If you choose to close your account we will be sad to see you go and want to know if there were any issues you encountered but ChangEd would refund your money back to your account.

What is the name on the loan?

When creating a ChangEd account, we ask that you put the name of the account holder in the "Name on Loan" field. E.g. If your name is Lisa Smith and you are the primary holder of the loan, you would input Lisa Smith. OR If you are one of the amazing family members willing to pitch-in your change to help a loved one pay off a loan, you would create a ChangEd account in your own legal name but input the loan holders name in the "Name on Loan" field. Any questions? Email us at

Whom can I contact with transfer disputes?

Bank services are provided by Evolve Bank, Member FDIC, through our banking software provider, SynapseFI. To report a complaint relating to the bank services, email

Bank error OR can't connect?

Bank linking issues can happen for many reasons but we are always here to help! If you encounter any issues linking your financial institution feel free to email us at We'll get one of our support members to get this issue resolved as soon as possible!

Losing connection?

A lost bank connection with ChangEd can happen for many different reasons. The most common reasons are system updates with a financial institution or changes to your account with that specific institution.

Financial institutions consistently update their systems to provide the best experience and top-level security. ChangEd follows suit! Also, if changes are made such as updated passwords or new security questions are added to your institution's profile, ChangEd will ask you to reconnect to maintain this security.

If you encounter any issues linking your financial institution feel free to email us at We'll get one of our support members to get this issue resolved as soon as possible!

Have a question but don't want to wait on hold?