Peanut Butter allows employers to offer student-loan payback as a fringe benefit, increasing their quality of applicants, reducing hiring costs, and becoming employers of choice.
Peanut Butter was founded by David Aronson, a former Senior Director of Business Development for Sears Holdings and Kellog School of Management Alumni. With over 20 years of business experience under his belt, David had a desire to solve the billion-dollar problem of student loans, and was looking for a partner to help bring his idea to life.
By 2020, Millennials, overburdened by the staggering cost of student loans, are expected to be 50% of the US workforce. While helping them repay these debts will likely become one of the hottest perks companies can offer, lack of proper technology prevented companies from doing that.
Together with the founder of Peanut Butter, we described the functionality of the application, drew wireframes, designed architecture of the web app, and started building a Minimum Viable Product. The resulting MVP allowed employers to set up and manage repayment plans, invite eligible employees, track enrollment, verify student loans, and track contributions towards employee student loans.
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