Mobile App for Student Loan Management

Student loan case





Student Loan Management App

Project Duration

6 months




Python, React.js, Kotlin

Project Team

1 Business Analyst, 1 Project Manager, 1 QA Engineer, 1 Developer for Backend, 1 Developer for iOS, 1 Developer for Android, 1 Designer


According to the Cengage Student Opportunity Index research, student loans have become a tiresome burden for multiple university and college graduates in the US. On average, it takes around 20 years to repay. Thus, numerous apps have appeared on the market, helping students manage personal finance smarter and even mitigate debt. 

Our client, a fintech startup company, shared with OTR their plan to create a multi-vendor student loan app. Its core task was to connect students with various merchants. The users would get access to special deals and become part of a multi-brand cashback program. In addition to a smoother customer experience, students could forward cashback proceedings to pay out their loans. 

Solution and its key capabilities:

OTR focused its efforts on developing an app that allows students to purchase from a list of merchants, receive a cashback, and use the funds to repay their loans. The app should also provide a list of live promotions and special offers. The main features included the following:

App to repay student loans
  • Integration of multiple merchants and E-store checkouts
  • Seamless integration of payment gateways and account aggregators
  • Easy money transfer to student loan accounts
  • Cashback funds to be used by the same user or transferred to others
  • Monitor account balances and activities
  • Receive alerts about essential account updates
  • Make or schedule a payment
  • Loyalty cards uploads

Development approach 

The development started with the discovery stage and writing the tech documentation. Our business analyst researched and defined the requirements, outlining the must-have and add-on features. With the main milestones outlined, we proceeded to the development stage.

We followed the combination of Scrum and Agile methodology. We split the entire process into 2-week sprints. The project managers kept the client updated on how the project went. At the end of each stage, we delivered demos or introduced new functionalities during the online meetings with the client’s reps. 

We did our best to deliver a user-friendly app design with an intuitive interface. The UI/UX team strictly followed Apple’s Human Interface Guidelines. They defined the app’s user flow and translated it into the prototype. We shared the video demo with our client, gathered feedback, and introduced the necessary edits. 

The dev team engineered the entire app’s backend. We developed the system to gather live offers and cashback rates from a set of merchants. Users could browse through displayed offers, take part in any of them, and use the accumulated funds to repay their student loans. We integrated the app with the pre-agreed account aggregators, shop checkouts, and payment gateways to make payments easy to make things easy. During one of the meetings, we also agreed to add the ability to share accumulated cashback/promo funds with other app users and integrated this functionality. With the QA complete, we delivered a fully market-ready MVP to our client.


A perfect blend of merchant promotion and personal finance management became a highly beneficial solution for all the parties involved. Students download the application, sign in with their bank account detail through a secure third-party provider. They get unlimited access to several deals and cashback options and pay in the shops of choice with a credit card. After that, users receive their cashback immediately at the checkout. They can forward it to repay their student loans or share it with their college mates.

The app also helps merchants maintain their existing client base and open up to new audiences. And with the integrated third-party identity checkers, account aggregators, and payment gateways, the buying experience is always smooth and secure.

The MVP version of the fintech application went live in Apple AppStore, and Google Play six months after we signed the agreement. Right now, our client is gathering feedback from the users. We are looking forward to moving on to the full-scale product development shortly.

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