I’m a big believer that personal finance is not just about cutting costs and spending less. In fact, I prefer to earn more than to save more. Remember, how much money you can save has a finite limit. But how much money you can earn is limitless – which do you prefer?
If you’ve been thinking you need a side hustle to help pay off those pesky student loans but don’t know where to start, I may have a solution for you.
Gradible is a new online platform that will allow you to do various tasks like post to Facebook, write blog posts, post to Craigslist and more to earn money. All the money that you earn goes straight to paying off your student loans!
Let’s go into more detail in our Gradible review.
How Exactly Does Gradible Work?
Gradible will send direct payments to your student loan provider when you earn and then redeem your LoanCreds. (LoanCreds are what Gradible’s points are called. 100 LoanCreds = $10 paid to your student loan debt).
Gradible works with every student loan lender, so no matter where your student loans are being held, you can make sure that your LoanCreds can be redeemed to your loans.
When you sign up with Gradible you can add all of your current student loan provider information to your account. Then after earning and redeeming LoanCreds, a payment will be made on your behalf.
There are a ton of different ways that you can earn money through Gradible, such as:
- Taking Surveys
- Internet Research
- Craigslist Posting
- Facebook Posting
- Shopping Through the Gradible Portal
- Completing Special Offers (Like trial offers and evening earning extra points by selling your electronics.)
- Printing Coupons
- Referring Friends (You get a 20LoanCred Bonus and so do your friends!)
How Much Do I Get Paid?
The pay level varies depending on what task you’re doing. There’s a LoanCred amount as well as an estimated completion time for each task. Tasks can range from less than 15 minutes all the way up to more than a day. The pay in LoanCreds varies by task difficulty.
As you can see, the below task is worth 5 LoanCreds and the maximum time to complete the task should be six minutes.
The amount of money you earn will be dependent on the type of work you take and how long it takes you to complete the task.
Let’s assume that you’re good at this, and it will take you 3 minutes to complete the task to earn 5 LoanCreds. That means that you could do this same task 20 times over the next hour, and earn 100 total LoanCreds. Since 100 LoanCreds equals $10, you’re effectively making about $10 per hour.
According to Gradible, most people accomplish these tasks in 2-3 minutes, for effective earning of $10 – $15 per hour.
Do They Offer Any Other Services?
I’m glad you asked! Gradible does in fact offer other services such as information on student loans, refinancing options, and debt consolidation help. You can schedule a free call with one of their student loan specialists to see if refinancing or consolidating your loans is the right option.
The great thing about this company is that they have a mantra for helping students pay off their debt. They don’t charge borrowers anything, and they are working hard to help borrowers with their loans.
So, beyond offering ways for borrowers to side hustle and pay down their student loans, they have some great tools to help as well.
Is Gradible a Good Fit for Me?
The work on Gradible is fairly easy – especially if you’re already skilled in internet research and social media. This is something that anyone could do in their spare time to help pay down student debt. Plus, if you’re quick, you can really boost your income beyond what the estimates say.
Even better, if you have a family member or friend who enjoys completing tasks like these but doesn’t have student loans they can apply their LoanCreds to your student debt.
Honestly, Gradible is not something that’s going to make your rich. However, if you’ve been looking for an easy side hustle to help pay down student loans then this could be a great fit!
Robert Farrington is America’s Millennial Money Expert® and America’s Student Loan Debt Expert™, and the founder of The College Investor, a personal finance site dedicated to helping millennials escape student loan debt to start investing and building wealth for the future. You can learn more about him here.
He regularly writes about investing, student loan debt, and general personal finance topics geared towards anyone wanting to earn more, get out of debt, and start building wealth for the future.
He has been quoted in major publications including the New York Times, Washington Post, Fox, ABC, NBC, and more. He is also a regular contributor to Forbes.