“The student loan industry in the US has been fundamentally unchanged for over 15 years at this point,” Bloch (co-founder & CEO) expressed in an interview with Crunchbase News, adding that people distrust giant lenders. “These [massive] companies literally make money by keeping people in debt where every dollar that somebody tries to pay back towards their loan is a dollar that these companies are not going to get in interest from you in the future.”

https://news.crunchbase.com/news/pillar-raises-5-5-million-to-help-people-pay-off-student-loans/