How Student Loan Debt Affects Women [US News]

Is diversity important at your company? Of course, it is. Companies that maintain a diverse workforce based on gender and race, perform better. But can your company structure its employee benefits to align with its diversity goals? One way is to offer benefits that will address the needs of underrepresented groups.

Today, we’re seeing more and more employers choose to offer Student Loan Repayment in order to engage women and minorities because individuals who identify with these groups have been adversely affected by student debt.

US News recently reported on how student debt affects women.

Here are some of the key findings:

  • Women owe about 2/3 of all US student debt
  • It takes women about 2 years longer than men to pay off their student loan debt
  • Black women have about 20% more student debt than white women

The article cites sources including the American Associations of University Women (AAUW) 2021 report on student debt along with a recent report from the Center for American Progress. It goes on to highlight some of the factors that affect the rates at which women typically take on, accrue, and repay student debt. Click here for the full text.