A brief overview of the student debt crisis

The ongoing student debt crisis is a complex issue resulting from many social and economic developments in the past few decades. Student debt has been increasing rapidly since 2000, from less than 250 billion to over 1.3 trillion today — and showing no signs of decreasing. The largest contributing factors include skyrocketing tuition, increased college enrollment, and a highly competitive job market, which results in an average of $30,000 of student loan debt for a 4-year graduate. In fact, by 2020 the US Fed predicts total student debt will increase to 2 trillion dollars.


While these numbers are astonishing, we also must take into account the heavy burden this places on our nation’s graduates: delaying savings, life events, and financial independence. Millennials, more than anyone else, want a solution to this problem, apparent by their preference for student loan repayment options from employers and their support of political candidates vocalizing the issue, such as Bernie Sanders.

Peanut Butter was created to help solve this 1.3 trillion dollar issue by offering employers a secure way to contribute to their employees’ student loans. In doing so, not only does the employee benefit, but they employer does, as well, by offering something that makes them more competitive and their employees less likely to leave.

For more detailed information about the student debt crisis, visit http://studentdebtcrisis.org/