The Hidden Gems of PowerPay

Vincenza Vicari-Bentley, AFC
​Empowering Financial Wellness Program Coordinator

It’s a new year and a great time to make a plan to pay down debt. PowerPay is a free tool that helps to develop a personalized, self-directed debt elimination plan but wait…there’s more! PowerPay has many other great built in tools and here are the highlights of some of our favorites:

Consolidating debts - PowerPay has a feature that helps you determine if debt consolidation is right for you. After you decide upon which debts you want to consolidate it does all the calculations for you and you can compare the results and see which option is best for you!

Student loan repayment feature - PowerPay has a feature called “Deferred Until Date” that allows you to approximate the impact of your student loan repayment even if your student loan payments are currently on pause. 

Spending plans - once you have analyzed and decided on a debt elimination plan, this tool helps you examine other expenses and see if additional money could be spent on debt reduction. You’ll find a basic and extended spending plan built right into PowerPay!
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Power save - as you start to eliminate debt, saving and investing become possible. This tool enables users to identify the steps to save or invest money. If you’re new to PowerPay we encourage you to set up your free profile at www.powerpay.org and if you’re familiar with PowerPay we invite you to come back and see what else PowerPay has to offer you!