Next up are Daniel Stelmach and Nick Skrzyniarz of ChangEd, seeking $250,000 for 15 percent equity.

ChangEd is an app that makes it simple to pay off student loans using spare change. According to their website, their mission “is to chip away at this massive debt and free recent grads to participate in the economy in a positive way.” The app to linked to the borrower’s credit and debit cards and any transactions made are rounded up and the change is then sent to the loan servicer. The app, which charges a $1 per month fee, is available for free on the App Store.

Since March, they have had 9,000 downloads and they hope to hit $100,000 in student loan payments by the end of the year. Mark Cuban likes the idea and the duo’s hustle, while guest shark Alex Rodriguez loves their mission. They made about $800 last month.

Barbara Corcoran has too many concerns about the banking side and goes out, followed by Rodriguez, who worries about a lack of competitive advantage. Robert Herjavec has concerns but decides to offer $250,000 for 48 percent. Lori Greiner commends what they’re doing with the app but can’t get over the valuation. She goes out. Cuban worries about scaling the app but offers $250,000 for 25 percent. They accept.

Social Media Reacts to ChangEd’s Appearance on “Shark Tank”

Each week on “Shark Tank,” budding entrepreneurs have the opportunity to pitch their emerging businesses to multi-millionaire and billionaire investors, known as sharks: Mark Cuban, owner of the Dallas Mavericks; Daymond John, fashion mogul and founder of FUBU; Kevin O’Leary, self-proclaimed Mr. Wonderful and founder of O’Leary Financial Group; Barbara Corcoran, real estate maven; Lori Greiner, queen of QVC; and Robert Herjavec, technology guru and founder/CEO of the Herjavec Group.

Philanthropist and Virgin Group founder Richard Branson, Spanx founder Sara Blakely, Skinnygirl Cocktails founder and Real Housewife Bethenny Frankel, Vitamin Water founder Rohan Oza and former MLB player Alex “A-Rod” Rodriguez are also slated to appear as guest sharks this season.

“Shark Tank,” which is based on “Dragons’ Den,” is produced by Mark Burnett and first debuted in 2009. To date, the sharks have invested more than $100 million in various companies after engaging in numerous bidding wars and shark fights. A new episode airs each Sunday at 9 p.m. on ABC.

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