LoanBYE creates platform for employers to help pay off employees’ student debt

PITTSBURGH — Pittsburgh-based LoanBYE, which has developed a software platform that allows employers to easily pay off employees’ student debt, launched this month.

Krish Pandya, founder of LoanBYE, said the idea came about a few years ago as the student loan crisis in the U.S. became more and more prominent. For context, Michael Fabus, head of talent acquisition and retention at LoanBYE, said Americans owe $1.7 trillion in student debt. He said the median student loan balance totals about $25,000 for Pittsburghers.

“It’s a really big deal for people that have graduated and are trying to start their professional careers,” Pandya said. “They have to make choices between whether they save for retirement and buy homes or just keep making these monthly payments.”

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