Christopher Lee tests innovative way for individuals to erase debt with upcoming application

With research and innovative thinking, one Alcorn State University alumnus is creating avenues for individuals to eliminate loan debt.

Christopher Lee, who earned a bachelor’s degree in business administration in 2002, is the founder and CEO of WonZaa, an application that uses the spare change from a debit card purchase to help pay and remove debt. The application analyzes an individual’s spending pattern by using technology to automatically calculate how much to save per transaction.

The application is currently in the beta testing stage and will be available in the Apple iTunes store and Android Google Play Store later this year.

The company is on a mission to garner attention from young adults in an attempt to help them be more responsible with managing debt accumulated while earning an education.

“WonZaa will benefit college students by allowing them to start making student loan payments early,” said Lee. “Students can choose to make interest only payments on their unsubsidized student loans while in school or doing the grace period. This approach can lower the overall balance and maybe shorten the loan term when they graduate. Our ultimate goal is to help young people get out of debt and start moving forward in life.

“Technology is the great equalizer. In technology, people don’t’ care about your background, race or religion. All they care about is getting help to solve a complex problem by using technology.”

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