This month Jeremy Jongsma joined the Peanut Butter team as CTO. Jeremy brings with him over a decade of experience in FinTech, having successfully grown three startups prior to coming onboard. We're excited, and so is he - read what he had to say about why he chose Peanut Butter as his next adventure.
When I first learned about Peanut Butter’s vision, my first reaction was surprise. Student loans have gotten out of control over the last 15 years, and it’s no secret - how were employers not already more involved in this problem? As I talked more with Dave, Peanut Butter’s founder and CEO, it became clear that the problem wasn’t desire but capability.
New benefits can be hard for a company to administer, because they often require the cooperation of institutions that are difficult to interact with and complicated to integrate with. So instead of trying to deal with those headaches for student loan assistance, companies have mostly stuck with tried-and-true benefits where those problems have been solved by others - insurance and retirement accounts. They’ve done this even though a large chunk of their employee population is disengaged, or worse, can’t afford to save for retirement yet because of their student loan burden.
These are the kind of problems that excite me. How can we streamline the adoption process, and make it pain-free for companies to offer student loan assistance as a benefit? How do we create and sustain both the relationships and technical integrations with all of the institutions required for this to work? And then how can employees take advantage of all of this with as little effort as possible? What sounds daunting to most companies is actually an extremely interesting problem to solve, and it’s the reason I do this.
I’m excited to join the Peanut Butter team as CTO, to find new and better ways to use technology to drive adoption of student loan assistance in companies. This is a problem that impacts millions of people in the US, and not only is solving it fun, but it’s a solution that will make those millions of lives better.