HOW IT WORKS
The 1CAVEAT mobile app combines the power of credit card round-ups with weekly bank account contributions, as well as crowdfunding support from your family, friends and employer to impact your student loan debt.
CREATE AN ACCOUNT AND BECOME
Once you create an account, we'll step you through the setup process.
First, we'll setup the bank account(s) you will make weekly contributions from.
Second, we'll collect credit card details, so we can collect loose change from rounding up your transactions.
Third, you'll provide us with your student loan information, so we can make monthly payments from the contributions gathered throughout the month.
SET YOUR CONTRIBUTIONS
Next, set the weekly amount you want to contribute from one or more bank accounts.
Your contributions from your bank and credit card account(s) will be collected throughout the month.
Just set and forget.
INVITE FRIENDS & FAMILY
Now that you are all setup, you can now invite friends and family to become contributors to your 1CAVEAT account. Just provide us with their contact information and we'll send them an invitation on your behalf.
Once they setup a credit card on their contributor account, we'll roundup their transactions to the next dollar and apply the loose change to your account.
So, expand your circle of contributors beyond yourself.
TRACK YOUR CONTRIBUTIONS
Watch the contributions made to your account throughout the month and track their impact on your student loan(s) after each monthly loan payment from your 1CAVEAT account.
WHAT DOES IT COST?
We collect $1 a month when your loan payments are made. We also collect all interest earned on your 1CAVEAT account as part of our fees.