Kora is a mobile app for college students to help you manage your college life.

Kora is a mobile app for college students to help them manage their college life. It offers features such as budget management, student loan repayment, event planning, and many others. Its primary purpose is to provide students with tools to manage their finances better throughout their college careers.

What Is Kora?

Kora app is a free app available on iOS and Android devices. It was launched in 2015 and has been downloaded over 5 million times since then.

Kora is an innovative fin-tech startup based in Chicago, building the first and largest app-based financing platform for college students in the United States.

How Does Kora Work?

It works by connecting directly to financial institutions. Once connected, users can view all of their accounts in one place. They can transfer funds between accounts, check balances, and even set up automatic payments.

What Does Kora Offer?

Kora offers services for students to manage their personal finances, which include: KoraCard, KoraCash, KoraDrive, and KoraInsights. These services allow students to earn money, save money, access funds, and so much more. Students can get up to $3,000 on demand, automatically track all expenses, make an A.I.-powered budget, and get an auto loan on their own while also becoming a finance pro.


KoraCard* is a cashback virtual card just for college students with Kora rewards ** powered by Dosh.

KoraCard is a student card that holds all their financial data, including credit cards, debit cards, bank accounts, loans, scholarships, grants, and any other financial aid received. All transactions made using this card are recorded and stored securely. The card can be used only if it is linked to a verified email address.

There are more than 100,000 places to get cashback rewards through Dosh. You can use the Kora app search tool and the map to find places near you offering cash back or scroll through and browse all the offers.


KoraCash is a peer-to-peer lending platform that lets college students borrow up to $10,000 from fellow peers. Users can choose to lend to friends, family members, or strangers. When borrowers repay their loans, they’re given interest payments. Interest rates range between 6% and 12%. Repayment options include monthly installments, one lump sum payment, or a combination of both.


KoraDrive is a savings account that allows students to automatically transfer money into a personal bank account each month. Students can set up automatic transfers to either a checking or savings account. There is no minimum balance requirement to open a Kora Drive account. However, there is a maximum amount that can be transferred per day.

Students can also use KoraDrive to set up recurring deposits. Recurring deposits let students deposit a certain amount of money into their accounts each week, month, or quarter.

You do not have to have a credit score or credit history in the U.S. to apply, and checking your application for KoraDrive or checking your rate will not hurt your score.

Kora Insights

An analytics tool that helps students analyze their spending habits and track their progress toward their goals.

Pros of Using Kora

  • Easy to Use: You don’t need any prior experience to start. Just download the app, and you’re ready to go.
  • Flexible: With Kora, you can connect your bank accounts, credit cards, and loans. This makes it easier than ever to manage your finances.
  • No Fees: Unlike many other financial management tools, Kora doesn’t charge fees.
  • Free: Kora offers a free version of their app. However, if you want the full experience, you’ll need to upgrade to the premium version.

Cons of Using Kora

  • Limited Functionality: Although the free version of Kora does offer some basic features, it’s not enough to handle most college students’ needs.
  • Not Compatible with all Devices: Some phones and tablets might not work with Kora.

Does Kora Have Any Fees?

Yes, there are fees associated with using Kora. Some of these fees include the following:

  • Monthly subscription fee: $4.99
  • Transaction fee: $0.50
  • Debit card transaction fee: $0.25
  • International transaction fee: $1.00

Who Is Kora Best For?

Kora is best for anyone looking for a simple way to manage their finances. Students just beginning to build credit can use Kora to monitor their spending habits. Those who already have good credit can use Kora as a tool to better monitor their debt payments. And, of course, students who are currently enrolled in school can use Kora to better organize their bills and expenses.

Is Kora Money Worth It?

Yes, absolutely. Kora is worth it because it lets you stay organized and on top of your finances. Plus, it gives you the freedom to check your balance whenever you want, even if you’re not near your computer.

How to Open a Kora Account

Visit the Kora Money website to open a Kora account. Students must go through an approval process. First, they must create an account, fill out a brief survey, and finally upload documents proving eligibility. Once you’ve signed up, you’ll automatically be redirected to your dashboard. From here, you can view your current balance, set up recurring payments, and update your payment history.