Student loan debt hit a record high of $1.5 trillion in Q1 2018 according to the US Federal Reserve’s latest data, but while it is typically associated with millennial there’s one demographic it impacts the most: women.
Student Loans Hurt This Group The Most
Student loan debt hit a record high of $1.5 trillion in Q1 2018 according to the US Federal Reserve’s latest data, but while it is typically associated with millennials there’s one demographic it impacts the most: women. They hold nearly two-thirds ($900 billion) of student loan debt as of mid-2018 according to a report from the American Association of University Women; men hold the balance of just +$490 billion.
Here are some more stats from the report that help explain the disparity:
- More women attend college: women represent over half (56%) of enrolled college students as of fall 2016, but hold a greater amount (65%) of outstanding student loan debt.
- More women take on debt: “41% of female undergraduates took on debt in 2015–16 compared to 35% of male undergraduates.” On average, women also “take on more debt than men at almost every degree level and type”. Lastly, “across degree levels women in college took on initial student loan balances that were about 14% greater than men’s.”
- Fewer men have student loan debt at graduation: “71% of women have student loan debt at bachelor’s graduation compared to 66% of men”.
- African American women are the most in debt at graduation: “Black women graduate with the most debt – at $30,400 – compared to $22,000 for white women and $19,500 for white men.”
The difference in student loan debt between men and women is only getting worse, as it has almost doubled in the last four years: “women now graduate with an average of $2,700 more debt than men when earning a bachelor’s degree.” Here are the consequences for women:
- Women earn less than men after college: Full-time working females with college degrees earn 26% less than their male peers. Additionally, “compared to white men with bachelor’s degrees, black and Hispanic women with bachelor’s degrees make 37% and 34% less (respectively) and struggle to repay their loans as a result.”
- Women take longer to repay their loans: Due in part to earning less than men, women paid off an average of 31% of their outstanding debt between 1 and 4 years after graduation compared to 38% for men. Default rates are also higher for women than men.
In sum, this all contributes to the perfect storm. A greater share of women attend college than men, but they also take out more loans and borrow more money in order to do so. Upon finishing their higher education, they earn less than men and are slower to repay their loans.
Aside from the obvious issues of gender equality, these statistics are also important to understanding the future trajectory of US economic growth. By one analysis we’ve seen (link below), US women are the primary breadwinners in 40% of US households. The disparity in student loan debt and earnings means lower growth in household disposable income and, therefore, consumption.
Sources: https://www.aauw.org/article/women-hold-two-thirds-of-college-student-debt/https://www.aauw.org/research/deeper-in-debt/https://www.federalreserve.gov/releases/g19/HIST/cc\_hist\_memo\_levels.htmlhttps://www.refinery29.com/women-breadwinners-household-income-family-impact?bucketed=true
TheAC997 5y ago
Ugh. Really? "Hurt?" Aren't they basically admitting that college is a waste of time, if the process of paying for it is "hurting?"
Taking out a loan means that you're buying money. That's all it is. It's interesting how every time women and men do things differently, the politically-correct viewpoint is that the women are doing things wrong.
JonathanMekerset 5y ago
They don't need to pay off debt because some beta will do it for them eventually
Gr0o0vy 5y ago
https://www.marketwatch.com/story/i-was-surprised-to-learn-my-wife-has-220000-in-student-loans-and-the-repayments-are-twice-our-mortgage-2018-07-27
to quote mr Nate Diaz
"I am not surprised motherfuckers"
juju515 5y ago
TL;DR - women make worst financial choices than men...
Sonos 5y ago
and more women go into higher education, and into shit degrees.
shaggyctes88 5y ago
Hey art/philosophy/gender are great choices! /s
Cha_Cha_cho 5y ago
yeah man, with gender studies I can tell who's right or wrong.
[deleted]
DONT_reply_with_THIS 5y ago
Men will own most of that debt after a few years.
Run up $250k in debt, marry an AFC. Divorce him 2 years later when you find a proper branch to swing to. He keeps half of your debt or more.
Rinse, repeat.
ggggggggee 5y ago
Sounds like my dad. Had no debt after college, marries my mom who has loads of debt. Once her spending got out of control he threatened to cut off her spending money and turn it into debt/bill money.
She filed for a divorce lmao
eyezofnight 5y ago
how much of it did he have to pay?
ggggggggee 5y ago
She filed for divorce 2 days ago. We will see.
aircavscout 5y ago
In theory, prior debt/assets are exempt from distribution. In practice, I hope he gets a good lawyer.
thrway1312 5y ago
Sounds like your dad knows what he's doing sans crazy bitches (for that, read TRP), consider doing whatever it takes to stick with him post-divorce
ggggggggee 5y ago
I actually introduced him to the redpill last month. I took it about 4 months ago and wanted to help him out. I do plan on sticking with him.
hiddenpleasures123 5y ago
My sister had 85,000 debt in student loans. Married an officer in the army and the chump paid it all off. Unfortunately their marriage didn't work out.
lastdumra 5y ago
Not trying to be disrespectful, but how different is what your sister did from prostitution?
hiddenpleasures123 5y ago
Prostitutes are a hell of a lot cheaper and shut the hell up and leave when you're finished.
But, ultimately it was an act of prostitution on her end. He believed they were made for each other. She ripped his fucking beating heart from his chest and feasted upon it infront of his fucking eyes. He ended up jobless, homeless and savingsless.
TheAC997 5y ago
https://youtu.be/15_VliW6X1Q?t=1m52s
Cynthaen 5y ago
Jesus Christ American women seem to be savage. It's like men aren't even human to them.
jnthnrch 5y ago
A generation (or more) of males have been raised to feel guilty about having penises, wanting to fuck things, wanting to fuck more than one thing, making too much money, making too many decisions, not being the right flavor of dad, not being women etc.
At the same time, a generation of women have been raised to believe they are princesses with a magical flower between their legs, and that they're smarter than men and it's a conspiracy that they're not in charge.
Beta cuck bullshit is the outcome. I love women, they're great, good companions, some of the best are worth their weight in gold, but AWALT. I wish I could deny it, but I can't.
thrway1312 5y ago
I like the analogy that beta males are like ugly/fat chicks -- they have their purpose but perceived sexuality, one of the most human traits, isn't one of them
SweatyAdvance 5y ago
So lets summarize:
1) Women take on more student debt than men
2) Women make less money then men
3) Women pay less in taxes then men
4) Women use more tax funded services than men
5) Women are the primary "consumer" spenders
VillagersUnite 5y ago
To be honest I don't care much because taking out loans in general is a bad fucking idea. Told my ex not to do it but she did it anyway. She wants to be a teacher. In Detroit teachers make nickles and dimes compared to other careers. I predict by the time she'll even pay off her loans she'll have a foot in the grave and that's if she actually becomes a teacher.
jnthnrch 5y ago
Wait until the government uses your tax dollars to forgive her loans.
Grumulzag 5y ago
It could be different but where I'm from being a teacher, especially in a low income area, pays off the student loans quickly since they get federal money to attract teachers to these areas. If you land a job in one of the cushier districts you can be debt free in under 5 years and the rural schools will help pay for a masters as well.
deville05 5y ago
Here is what will happen in the future. they will legally dump a percentage of the loans onto the men in these women's lives or the govt will subsidize it or these loans will be forgiven all together.
Reptilian_Brain_420 5y ago
Yup. And the lesson for women and girls to do whatever they want with no regard to consequences will continue. "Don't worry, someone else will help you out of your problems. You just need to find a wealthy prince and live happily ever after"
lastdumra 5y ago
Does this statistic include single women? Or does it say that in 40% of USA couples the female is the breadwinner? I would be surprised if it is the second option.
untitled56 5y ago
If you're a single mom, of course you're the primary bread winner.
Reptilian_Brain_420 5y ago
definitely seems like the first.
And a big portion of that "bread" probably comes from government handouts.
[deleted] 5y ago
All those psychology, women’s studies, communications, and art history degrees bought on credit....this has to be the worst collective return on investment ever!
[deleted] 5y ago
[deleted]
[deleted] 5y ago
There is an insidious death spiral to this, for sure.
I can see this either degenerative to collapse or market forces take over, which comes first ?
I recall seeing an enormous private hospital going up right next to my nearest nhs hospital, before I moved away. How much is the private sector eating into the nhs these days?
[deleted] 5y ago
NAWALT. My SIL has a Masters in Psychology.
Almost zero student loan debt, is teaching at the university as well as being a counselor.
Then again, she made smart choices.
sadomasochrist 5y ago
And she'd still divorce a high beta for being the man she asks for. This isn't NAWALT.
Read my nAWALT post pinned in my profile to understand your sister.
[deleted] 5y ago
Masters level study is something totally different. So is achieving that without debt. Actually employed in the field? Bonus.
HannahNeymus 5y ago
This article helps explain why there are so many black strippers having sex with fat old white “middle class” men outside the club.
KakarotSSJ4 5y ago
What's the point you're trying to make?