PowerPay Debt Away

Utah State University’s PowerPay is a powerful debt elimination software program. Developed by university faculty, the goal is to help people make a plan to pay off debt. The program is free and site user information is not sold or shared with others, so no worries about spam or unsolicited offers.

A “power payment” means that as a debt is paid, the payment amount is allocated to another debt. Utah faculty designed the tool so that even people making minimum payments on credit cards could map out a debt reduction plan.

Powerpay allows users to analyze their debts and calculate:

  • Month and year each debt will be eliminated
  • Total cost of paying off each debt
  • Impact of making extra payments
  • Interest cost of different payment options

PowerPay offers features you wouldn’t expect from a free site:

  • Password protected account users can save and update
  • User accounts are stored on a secured web site, but the only identifying information requested is an email address
  • A user can add over 30 loan accounts
  • It is completely non-commercial. No products or services are promoted anywhere on the site.

You can find PowerPay at www.powerpay.org. In addition to the PowerPay debt tool, it features PowerSave calculators like “invest a lump” and “fixed savings payment.” These help analyze interest rate, target date, and amount to save in order to achieve a financial goal.

Join us for a webinar on April 29 at 12:00 pm EST to find out more.
Webinar: PowerPay Debt Away
We will demonstrate Utah University Extension’s free, non-commercial PowerPay debt management software program and discuss debt management strategies.
Registration: https://attendee.gototraining.com/r/609947881964119042


Posted: January 13, 2020

Category: Money Matters
Tags: Debt, Debt Free, Debt Management, Money, PowerPay

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