Women carry roughly two-thirds of all student loan DEBT.
Black women are disproportionately impacted by the issue. They carry the most student loan debt of any racial or ethnic group. Women are unable to cover other bills or important expenses and have to delay future life plans, such as buying a house or starting a business due to student loan debt and interest payments. For many, this debt is debilitating financially and emotionally. The system is broken for all, but the student loan debt crisis harms Black women the most.
It’s time to cancel the debt that holds women back.
All illustrations are by Sam Vassallo
The Facts
2/3
Nearly two-thirds of all student loan debt is held by women. (AAUW: Deeper in Debt)
26%
Less
Women with a bachelor’s degree who work full time make 26% less than their male counterparts on average. Because of this, it takes women two years longer than men to pay back loans, on average. (AAUW Fast Facts: The Gender Pay Gap)
$10K
More
Black women hold the highest amount of student loan debt of any racial or gender group. AAUW reports that one year after graduation, Black women owe $10K more than other women borrowers.
1/3
of women
One-third of women say that more than one-fourth of their monthly income goes toward student loan debt payments. (Student Debt Crisis Survey).
$120K
Over their lifetime
TW: Student survivors of sexual assault drop out of school at a rate of 34% (Violence Victimization on a College Campus). For survivors, the economic cost of rape is around $120K over their lifetime on top of student loan debt. (The Journalist’s Resource)
The Stories
Conversations around student loan debt often carry stigma, but it doesn’t have to be this way. Women across the nation bravely shared their student loan debt stories with USOW.
These stories highlight structural barriers that make it difficult for women, especially women of color, to pay off their student loans. Borrowers need to know they are not alone. Each story helps build solidarity and reduce stigma.
Additional Resources
AAUW’s Deeper in Debt: Women & Student Loans Report
- A broad overview of how student debt became a women’s issue.
Student Debt Crisis Center’s Student Loan Debt Help Clinic
- A video covering student loan basics, affordable repayment plans, loan forgiveness options, and what to do if you cannot afford your payments.
- This tool was built by women, for women. Sign up for a membership to start investing for future goals, save for the short term, and navigate your career.