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.