STILT
Debt Management App
Stilt is a mobile application that helps current and graduated college students manage their debt. With students having multiple loans to pay back, Stilt makes that process easier.
Stilt is a mobile application that helps current and graduated college students manage their debt. With students having multiple loans to pay back, Stilt makes that process easier.
Stilt is a mobile application that helps current and former college students manage their debt. With college prices going up each year, more and more students feel a need get student loans to fund their education. While the instant money is great, paying it back can be challenging.
My reason for creating Stilt was because I have taken out student loans in the past. Loans cause a lot of unwanted stress and I wanted to see if I could come up with a solution that helped millions of people.
UX Researcher, UX Designer,
Information Architect, UI Designer,
Market Analyst
March - June 2020
Student loan debt has continued to increase year after year. With more and more jobs requiring at least a bachelor’s degree, young people find it necessary to go to college even if that means going into debt. After signing contracts and getting their money, many students do not plan for the future. When that first bill or late notice arrives, reality sets in.
Stilt aims to bridge the gap between students and their loans. By creating easy ways to link your bank account, set notifications, and calculate loan payments, those with loans can have a personalized solution to manage their debt.
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View Final DesignSee My ProcessFor this project, my research process was divided into three sections: market research, competitive analysis, and interviews. I wanted to gain an understanding of the student loan issue from both a numbers and emotional perspective. It was also important to understand what applications were on the market to see how they were addressing the issue.
Before diving into market research and interviews, I wanted to examine the statistical information out there concerning student loan debt. I discovered these shocking statistics about student debt.
$32,731
$1.56 trillion
3 million
greater than $100,000
At the forefront of the student loan crisis are millions of students. I obviously couldn’t speak with all of them but I found it necessary to understand loans on a personal level.
I was able to recruit 5 people for in depth interviews. Although initially wanting to have a mix of current and graduated students, with time constraints, it was much easier to find people who were already paying back their loans.
I decided to break down my questions into 3 categories: fill in the blank, experience with student loans while in school, and experience with loans once graduated.
Below are examples of some questions asked to the participants
From the responses received, there seemed to be certain themes that recurred.
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With those statistics and interviews accounted for, I wanted to look up different competitors to see how they approached student loans. Although I had an idea of what was needed, this was an opportunity to see what had been done and how those features could be improved.
The features of these applications were all pretty much the same but the usability and layout of information was much easier in some than others.
One important conversation that was had during usability testing involved the most important features in a debt management app.
The most common answers were: ability to link to a bank account, a loan calculator, payment scheduling flexibility, and overall ease of usability.
Through this competitive analysis, I was able to better understand what market leaders were doing well and also fill in gaps that were missing. The aim for this project became combining useful features without compromising the ease of use.
Although I felt comfortable with the work, information and direction of the project, I wanted to reaffirm my findings in an affinity map.
Through this exercise, I was able to form conclusions based off of trending answers and topics of engagement.
Before creating low fidelity mockups, I created a flow of how a user would make their way through the application.
I broke down the flow into three crucial tasks that all users of the application would perform:
Calculating Loan Payments
Setting Calendar Notifications
Linking To A Bank Account
Based on the established layout, I created low fidelity wireframes.
One of the biggest challenges I faced was figuring out where the elements should live on each screen. This became a tedious process as I tried several different iterations.
I recruited 5 people and conducted quick remote moderated usability tests.
I wanted to see if they could complete the three crucial tasks established while constructing user flows.
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I recruited 5 people to perform a very quick usability test.
From the responses to usability testing, it became obvious that there was a problem with the overall structuring of the application.
Even though this was a very low fidelity mockup, I realized that this app had a learning curve that I didn’t consider.
I realized that I had to make small adjustments to hopefully gain clarity for the users.
With high fidelity screens created in Figma, I decided to set up usability testing with 5 participants.
I kept the same three scenarios but made sure to incorporate the feedback provided in the first round of usability testing.
In order to conduct the most in-depth usability test possible, I outlined the things I wanted to accomplish and learn.
Using the 5 W’s, this framework helped me remain focused on the problem I was trying to solve.
With a better plan of execution, I recruited 5 new participants to complete the same tasks.
I predicted that with the changes incorporated into the design and information architecture, the confusion seen in the first usability test would be lessened if not eliminated.
Only one the 5 participants struggled with the application. He found the wording of sections a little confusing causing him to click different icons until he moved to the next phase.
Although the second round of usability testing went much smoother, there were still areas of improvement that were addressed in the post-session discussion. The top 3 recommendations were:
-Making the titles of sections explicitly simple
-Adding more contrast between elements
-Adjusting the drop down menu
With recommendations in tow, I finalized the design.
As one of the features considered most important in a debt management application, I wanted the process of personalizing your payment timeline to be simple.
With an improved drop down menu, users are able to create specific notifications depending on their needs.
Because this step of the process requires inputting sensitive information, creating a sense of trust was the aim.
In hindsight, one question I would have asked at the end of usability testing is “how likely are you to use an app like this to manage your student loans?”
Without seeing the app as a fully functional iOS product, there are many questions that I still have yet to answer concerning bandwidth and all of the features I want to add.
I would like to conduct more research and usability tests with a broader audience to gain as much insight as possible.