Gradify: Navigating Student Loans with Confidence

Empowering borrowers with a personalized loan management tool.

Challenge:

Student loan debt impacts 43.6 million Americans, with 54% of graduates facing financial burdens. Existing solutions fall short in helping borrowers navigate repayment and manage loans effectively.

Existing solutions often fall short in providing support to borrowers, leaving them struggling to manage their loans effectively and navigate repayment. There is a need for change in the landscape of student loan management.

Solution:

Gradify is an intuitive app designed to help borrowers at every stage of their journey, from incoming freshmen to working professionals. The app tailors resources to users' current stage, updates their loan hub as new information is added, and tracks progress through milestones in user profiles.

Key features include:

Onboarding tutorial
Loan hub for tracking and management
Reminders and upcoming deadlines
Notes and resources for guidance
A profile journey overview to track progress and milestones

UX Team

Duey Smith

Whitney Speck

Kait Baer

Quyen Hoang

Marjunique Louis

Role/Contribution

UX Researcher,

Project Manager

Tools

Qualtrics

Zoom

Figma

Google Suite

Duration

1/24 - 5/24

Research Methods & Design Process

Stage 1

Background Research, Competitive Analysis, & Journey Mapping

Stage 2

User Interviews, Surveys, & Info Architecture

Stage 3

Lo-Fi Prototyping & Usability Testing

Stage 4

Hi-Fi Prototype Solution

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Stage 3 - Solutions & Hi-Fi Prototyping

Stage 1 - Background Research, Competitive Analysis, & Journey Mapping

+ Background Research

To discover common experiences amongst borrowers, we analyzed studen loan forums, news outlets, and loan policies.

Our primary goal with this research was to explore prominent challenges borrowers face and begin solution identification.

+ Competitive Analysis

A competitive analysis was conducted on apps and websites such as EveryDollar, Earnest, Chipper, and Credit Karma to identify critical features, including:

Budgeting
Habit Tracking
Financial Literacy Resources
Calendars for Notifications and Alerts

+ User Groups & Journey Mapping

Three different stages were identified: incoming borrowers, current students with loans, and former students paying off loans with interest.

Journey maps were created to draft where different tools would sit and begin user interaction development.

Key features through identified journey mapping include:

Onboarding tutorial
Resource and loan overview hub
Calendar with upcoming deadlines
Habit tracking

Journey maps and lo-fi sketches for the three identified user groups

Stage 2 - User interviews, Surveys, & Information Architecture

+ User Interviews

10 user interviews were conducted to better understand the perspectives and experiences of our target audience along with their practices while navigating student loans.

The following key themes emerged from our interviews:

Borrowers pay off loans with the highest interest rates first
Information from FAFSA on-boarding and off-boarding is not retained
Familiarity with financial terminology made it easier for borrowers to navigate student loans
Informal budgeting with notes or mental tracking was popular
Immediate financial responsibilities were prioritized over student loans
Difficulty tracking loan provider changes and consolidating loans

2 user personas and a user scenario were created to guide following design iterations.

User personas for a current student and a post-graduate professional.

User scenario for an incoming student taking out loans.

+ Survey

A Qualtrics survey conducted from 3/5/2024–3/11/2024 gathered qualitative and quantitative data on student loan borrowers' challenges and feature priorities. Shared on Facebook, Reddit, and Instagram, it received 50 responses. Participants identified loan management tools they use and selected preferred wireframe screens.

Stage 3 - Lo-Fi Prototyping & Usability Testing

+ Lo-Fi Prototyping

Insights from interviews and survey results informed the lo-fi prototype of Gradify. Key design solutions included:

Notes for tracking budgeting and loan information
Task reminders to stay on top of deadlines
Loan payment calculator
Goal tracker to monitor progress
Journey map and check list
Resource hub for for financial literacy and support

+ Usability Testing

10 user tests were conducted on Gradify's lo-fi prototype to uncover problems in screen designs. 5 tasks were completed by each user to evaluate screen designs, revealing key insights:

Users benefited from an on-boarding process to familiarize themselves with the platform
7 out of 10 users found the dashboard intuitive but preferred key features, like upcoming dates, to be placed at the top.
9 out of 10 users struggled with adding a note, as the icon didn’t align with expectations for note creation.
Users questioned customization options and how content on the resources page was generated.

Based on user testing insights, the design team created the Journey Map and Checklist feature. Gradify was envisioned to grow with users—guiding them from pre-loan considerations to graduation and repayment.

This feature aims to enhance financial literacy by breaking down the nuances of student loans into a structured, user-friendly format.

The journey map visualizes the student loan process, helping users—especially first-generation students—navigate complex financial decisions.
The checklist provides actionable steps, ensuring users stay informed and organized.

Above are select screens from the lo-fi prototype.

Stage 3 - Solutions & Hi-Fi Prototyping

Student loans are a significant U.S. social issue, often stemming from systemic inequities. We aimed to create a user-friendly experience that benefits users, rather than further exacerbating challenges.

A few changes were made in the final prototype based off our findings:

Initially, we placed the loan progress tracker and notes at the top, but user feedback revealed a preference for seeing upcoming deadlines first.
Budget tracking was also deprioritized after learning it wasn't a key concern.
A significant change involved how notes were displayed - we simplified the layout to make the information more accessible and clear.

Throughout the structured approach of the research and design process, there was a systematic progression of project activities, ultimately leading to the successful development and presentation of a high-quality mobile application prototype tailored for student loan management.

Reflection & Next Steps

For future iterations and to enhance user experience, more traditional data visualizations like bar and circle graphs be used in plaes of the freeform shapes we currently have, considering the seriousness of student loans.

Future iterations of features like the loan hub and reminders could be tailored to users' changing needs, such as focusing on saving strategies for incoming students. Given time constraints, refining the loan projection feature to highlight specific loans rather than a total overview would be beneficial.

Year 1 Metrics & Engagement Goals if Gradify were developed:

Retention: Aim for an 80% retention rate among incoming students through graduation, with engagement during FAFSA and loan disbursement.

Ongoing Engagement: Encourage sophomores and juniors to use the app at least once per semester during key financial milestones.

Post-Graduation Success: Track continued usage, particularly around employment and loan repayment.

By continuously monitoring engagement and adapting features based on feedback, Gradify ensures lasting value and success for borrowers.

Awards & Recognition

Our project competed at the University of Michigan School of Information 2024 Student Expo. While our project didn't win, the article "‘More than a class project’: UMSI Expo features student innovations with social impact" highlighted the positive social impact our project would have.

Final poster detailing a high level overview of Gradify.

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