Double Standards and Double Burdens

This article lays out the ways in which women take on more debt in college and in turn, take an additional 2 years on average to pay off student loan debt. The factors listed include:

  • There is $1.5 trillion worth of student debt in America, women make up two-thirds of that debt
  • Female students take on more debt than males across every level of education
  • Women in college have initial student loan balances that are 14% higher than men’s
  • A study found that 60% of girl-only homes put saving for college as a priority above saving for retirement in comparison to 75% of boy-only homes
  • 35% of girl-only homes had money saved for college compared to 50% of boy-only homes
  • Millenial women were more than 3x more likely to not completely understand their financing choices during the application process
  • Women are 40% less likely to refinance after graduation
  • Last but not least, the fact of the gender pay gap. Research says that women need one more degree in order to make the same as a man. If a man has an associates degree, a woman must earn a bachelors in order to make the same amount

 

https://www.forbes.com/sites/cbrennan/2018/03/17/the-double-burden-student-loans-women/#7dfccbe62488