The Racial Gap in Women’s Ability to Pay Off Their Student Loans

moneybagThe American Association of University Women (AAUW) reports that one year after graduating from college women are paid, on average, 82 percent of what their male counterparts are paid. This pay gap for recent college graduates make its more difficult for women to pay off their student loan debt than is the case for male college graduates. According to a new analysis by the AAUW, women who graduated from college in the 2007-08 academic year were able to pay off 33 percent of their student loan debt by 2012. Men who graduated from college in the 2007-08 academic year were able to pay off 44 percent of their student loan debt by 2012.

This inability to pay off student loan debt due to lower average pay for recent college graduates is particularly severe for African American women. Again for women who graduated from college in the 2007-08 academic year, Black women were able to pay off only 9 percent of their student loan debt by 2012. In contrast White women, who were recent college graduates had paid off 37 percent of their student loan debt by 2012. Asian American women paid off 61 percent of their student loans by 2012.

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2 COMMENTS

  1. there is an article that addresses this issue

    African American College Students Tend to Concentrate in Majors That Lead to Low Pay

  2. Women in STEM contributes greatly in narrowing the gender salary gap from 79% to every dollar to 94%. K-12 and summer camp can help prepare women for college in these fields.

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