Is anyone on your holiday gift list carrying student loan debt? Fintech startup Pillar is launching a new tool Tuesday that helps friends and family make payments on those loans. Just through the holiday season, for now, the service lets users create GoFundMe-style campaigns to raise money. Payments go directly to their student loan servicer.
With outstanding student loans now totaling more than $1.6 trillion, it’s just the latest example of a company trying to capitalize on our collective anxiety about paying for college.
Click the audio player above to hear the full story.
If you’re a member of your local public radio station, we thank you — because your support helps those stations keep programs like Marketplace on the air. But for Marketplace to continue to grow, we need additional investment from those who care most about what we do: superfans like you.
Your donation — as little as $5 — helps us create more content that matters to you and your community, and to reach more people where they are – whether that’s radio, podcasts or online.
When you contribute directly to Marketplace, you become a partner in that mission: someone who understands that when we all get smarter, everybody wins.