9 ways student debt is one more thing that's worse for women than men
- America's student-loan debt crisis is hurting women more than men.
- Women carry more than half of the nation's $1.7 trillion student-loan debt - and it takes them longer to pay it off because of the gender pay gap.
- Women also feel worse about their student-loan debt: they're more stressed by it and less likely to know how to repay it.
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The student-loan debt crisis is hurting many Americans - but it's hitting women particularly hard.
As the cost of college continues to climb, so too does the nation's student-loan debt total, which currently sits at $1.5 trillion. Women hold the majority (two-thirds) of that total, according to the American Association of University Women.While that finding is influenced by the fact that more than half of women have bachelor degrees compared to men, the gender pay gap is also at play. Women earn less than men in the workforce, which means it takes them longer to pay off their student-loan debt. This gives interest more time to accrue, further widening the debt load.
Women also typically graduate with more student-loan debt than men, and studies have shown that women are more stressed by their debt levels and less likely to understand how to pay it off.
These nine startling facts show just how great of a burden student-loan debt is for women compared to men.