5 Biggest Issues in America and the Companies Working on Solving Them

4. Student Debt

Student debt is another critical issue in the country. Education has become extremely expensive, with college-tuition costs more than doubling over the past 30 years. This has resulted in more than half the students graduating with student debt as of 2022, for both public and private institutions. 

The average student loan debt in the country is $30,000, with a total debt of $1.75 trillion. One Wisconsin Institute’s research shows that it takes roughly 21 years on average to pay off the student debt, creating financial stress for student debtors over the course of their careers.

Some startups have emerged that address this problem. One of these is Rightfoot, whose API is used by a number of companies to create tax-free loan repayment programs as employee perks. Other companies with the same business model include Goodly and FutureFuel.