Overly large student loan debt is no surprise to Americans since college tuition continues to rise each year. However, the question is whether student loan debt affects young women more than it does young men? Many pollsters and experts in the field think that women surpass men in the amount of student loan debts that they incur. Why? Well, most believe that women are more eager to get an education than men and so will take the risk of borrowing to fund their education. In a male dominated corporate world, many women think that in order to compete, they have to gain more educational power by pursuing a college degree. In so doing, the cost becomes too much not to take out student loans.

The First Look

When a young man or woman takes on their first debt, it is usually when applying for a student loan. Upon entering the workforce later, and earning less than the young man does, the young women will oftentimes depend on her credit card to get by financially. This is true too, if the young woman gives more priority to an active social life. For this reason, other debts begin to mount and the student loan debt is no longer the focus. With not much knowledge as it relates to finances, the young woman is not able to make any sense of it until the debt becomes too overwhelming.

The Stats

On the other hand, as reported by the U.S. Labor Department’s statistics, women will oftentimes pay down their debt, especially those between the ages of 25 and 35 years of age. For that reason, more women in that particular age group will pay on their student loan debts than men will. Student loans, though, have always been an issue for both male and female. In 2014, sixty nine percent of those students who have graduated from college did so with huge student loan debts incurred. Seventeen percent of this number has incurred debt in excess of $40,000. In fact, student loan debt is estimated at $1.3 trillion and this is in excess of the combined credit card debt in America. And this is for both men and women combined.

The Effect

The effect of student loan debt is not just a simple statistic or theoretical indication, but a realistic occurrence affecting college students who have graduated. In fact, when surveyed, many college students, male and female have indicated that they have taken lower paying jobs from time to time in order to pay their student loan debt. Twenty percent of these students said they put off purchasing a home because of their student loan debt. Some have even delayed having children to place more emphasis on repaying their loans. It is not surprising that some college students who have retired indicated that the student loan debt was not worth it, since they have to take jobs insignificantly lower than their expectation. This goes for both men and women.

The Bottom Line

In America, there is a gap as it relates to men and women. According to various stats, more women work full time and earn less than men. For that reason, more women owe on their student loan than men do. When you look at this disparity, it is no shocker that women find it more difficult to pay down their student loan debt than men do.


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