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Pillar launches... to tackle your student loan debt

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Pillar launches... to tackle your student loan debt

"A new startup aims to help you get your student loans under control. Today, an app called Pillar, backed by $5.5 million in seed funding led by Kleiner Perkins, is launching a simpler way for consumers to better understand their student loan debt — and even pay it off early.

To do so, the app connects with your student loan servicer and bank, then makes personalized suggestions based on your loans, your income and your spending. When it finds a way you can make a bigger dent in your overall student loan debt, it will send an alert to your smartphone...
As Pillar analyzes your spending and pay schedule, it can figure out when you can start making an extra payment toward your loans. It also calculates what that means in terms of paying off your loan earlier. This is especially useful for those who don’t necessarily receive a steady paycheck, or whose income fluctuates for other reasons — they may have trouble determining how much they can actually afford to chip in.

The company does not offer to refinance loans, to be clear, nor will it point you toward those options. In fact, it expects many of its users wouldn’t be able to take advantage of refinancing options, anyway."
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Re: Pillar launches... to tackle your student loan debt

Looks like an interesting service so I signed up giving them all my information, etc. Now I’m ~5000th on the waitlist to get in. My waitlist number went down about 50 in the past week. Kind of annoying, really.

In about six months when I’m allowed in I’ll report back and let you know if it is decent or not.
Current FICO 8s:
EQ: 650 - TU: 661 - EX: 642
Starting Score: 617
Current Middle Score: 650
Goal Score: 800

Message 2 of 3
Established Contributor

Re: Pillar launches... to tackle your student loan debt

Waitlist?? I thought people were just going to be able to sign up. I would have done it but I would get absolutely no benefit since I'm on REPAYE with forgiveness.
Thank you for taking the first step that might encourage others to as well. Good luck. I really hope it helps you with the things it says it will. Maybe it could replace the government website. /s

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