Student loan repayment platform Tuition.io will get a fresh start in 2017. The Los Angeles-based company today announced Scott Thompson (pictured) will take the reins from Brendon McQueen as CEO.

Thompson most recently served as CEO for ShopRunner. Prior to that he held a short-lived role as CEO of Yahoo and served as president of PayPal for seven years. He also worked at Inovant, a subsidiary of Visa; Barclays Global Investors; and Coopers & Lybrand.

The company’s former CEO Brendon McQueen debuted Tuition.io at FinovateFall 2012. The company has since transitioned into a strict B2B business model in which it helps businesses pay down student loan debt on behalf of their employees. Clients include Children’s Hospital & Medical Center, HP, and Staples.

Since launching in 2012, Tuition.io has experienced a 17x year-over-year increase in participants, helping tens of thousands of borrowers manage $2+ billion in loans. The company hopes to continue expanding to help businesses serve the 44 million Americans dealing with student loan debt. Thompson, who helped build revenues at PayPal from $1 billion to $4.4 billion, was brought on to facilitate growth at Tuition.io.

“Scott has made an incredible career of taking businesses and scaling them to new heights,” said Bryan Stolle, Tuition.io board member and general partner at Wildcat Ventures. “With all our recent momentum, this is a pivotal moment for the company, and we need a strong leader with a clear vision to help us make student loan repayment an employee benefit that is as widely adopted as the 401(k).”