New Program Applies Cash Back on Purchases to Student Loans automatically directs cash back users receive to the purchaser’s student loan with the highest interest rate., a student loan repayment benefit provider, announced the launch of Giveback by

Giveback enables Americans to harness their purchasing power to pay down their student debt. After users download the Google Chrome browser extension, they can get up to 30% cash back on items from more than 450 brands. Giveback is free and enables consumers to earn savings from merchants across multiple categories, including in-demand categories such as groceries, food delivery services, in-home entertainment, work-out equipment and more. automatically directs those merchant dollars to the purchaser’s student loan with the highest interest rate. Users can track the cash back they earn and the progress they make toward paying down their student debt through the platform. The firm says that by enrolling in Giveback and claiming offers that provide just $25 in cash back per month, users could save an average of $4,900 in interest and shave 23 months off of an average student loan.

Information about how Giveback works is on Vimeo.