Women Struggle More Than Men to Pay Off Student Debt
Black women who graduated college during the depths of the recession owed more in student loans than their annual income on average one year after leaving school.
That troubling finding comes from a study produced by researchers at the Washington-based Institute for Women’s Policy Research (IWPR) and published by AARP, a nongovernmental organization and interest group with members who are 50 years of age or over. The study also found that women of all races held debts totaling at least 80% of their income and that white women’s student debt loads were 92% of their income on average. Men of all races also had debt worth at least 60% of their incomes on average one year after leaving school, the study found. The study analyzed National Center for Education Statistics data and looked at the total student debt owed by borrowers as of 2008-2009 on loans they took out for their undergraduate education through June 30, 2008.