118: In Hacking the Student Loan Repayment System, Bobby Matson, founder of Payitoff, joins host William Glass to discuss his journey of becoming a founder. Bobby shares how his family's struggle to pay down student loans prevented him and his wife from starting a family. After hacking their way out of student loan debt, Bobby decided to commercialize his knowledge through Payitoff. Payitoff provides debt paydown software that supports fintech companies and banks repayment solutions.

Follow the Silicon Alley podcast wherever you get your podcasts.

__

Visit SiliconAlleyPodcast.com to become a guest and sign-up for the newsletter. Follow on:

- Instagram: http://bit.ly/SIliconAlleyIG

- LinkedIn: http://bit.ly/SiliconAlleyLI

- YouTube: http://bit.ly/SiliconAlleyYouTube

Our Sponsors:

Ostrich provides a financial habit-building app that helps you build a strong financial foundation. When you first join Ostrich you'll receive your Ostrich financial health score that shows where you are today and how you compare to your peers. Get your Ostrich financial health score for free at https://www.getostrich.com

Wicked Bold Chocolate is a vegan chocolate brand using just 3 natural ingredients in its chocolate. Delicious, natural and get 15% off using the promo code: SiliconAlley go to https://www.WickedBold.com

About Bobby Matson:

Bobby Matson is the CEO and founder of Payitoff, a venture-backed team automating every aspect of student loan repayment for fintechs and workplace providers.

A few years ago, Payitoff's founder, Bobby, and his wife were weighed down by crushing six-figure student debt, unsure if they’d ever be able to start a family or own a home.

Bobby spent nights and weekends codifying student loan regulations and building an algorithm to help his family navigate their personal student debt crisis. This technology, which in time became the core to Payitoff’s algorithm, helped him gain what every borrower seeks: a course of action for his student loan management that without a doubt would get the the best possible financial outcome for his family. Amidst the confusion and complexity of the student loan system, Bobby was able to turn chaos into certainty thanks to this algorithm. With that freedom, Bobby and his wife were empowered to start a family and move forward with their lives. (They currently have an adorable 3-year-old daughter!)

Of course, Bobby quickly realized his struggle wasn’t unique. 43 million other borrowers could benefit from the technology he developed in order to overcome the overwhelming complexity of student loan debt.

He founded Payitoff in 2018, and we’ve since built a suite of innovative tools to revolutionize student loan management, from the unique perspective of having experienced the struggle firsthand.

https://www.linkedin.com/in/bobbymatson/

Silicon Alley is a Financial Glass Production