Milwaukee City Wire

Women, particularly women of color, are earning degrees while acquiring more debt than men, a study by an association that advocates for fair treatment of women has found.

The American Association of University Women’s (AAUW) “Deeper in Debt: 2021 Update” found women have about two-thirds of the student loan debt in the country (close to $929 billion). On average, women have $31,276 in student debt. White women have student debt of $31,346 and black women, $37,558, “Fast Facts: Women & Student Debt” reported.

“Americans now hold over $1.7 trillion in outstanding student loan debt. The skyrocketing cost of college has forced more students to borrow money to obtain a degree,” the report said. “Women take on greater debt than men to start, but when women graduate, loan payments collide with the gender pay gap. The compounding effect puts a tight squeeze on women’s budgets.”

Student debt is affecting Milwaukee resident Radaya Ellis, who according to LinkedIn, has been a researcher at Ubuntu Research & Evaluation, LLC. Ellis, who has a master's degree and a bachelor’s degree, told WTMJ-TV Milwaukee that she borrowed approximately $120,000 for her education.

“It's hitting me right now because I'm trying to buy a home. It's impacting my credit, it's perceived as a liability," Ellis said, according to WTMJ-TV. “It's like I now have this degree I have to work off instead of work toward the life I want to live, because of the degree.”

Women pay on average $920 monthly for housing one year after college, the report said. A car loan can be $396 per month. Mothers pay $520 for childcare.

“When you factor in an average of $307 per month on student loan payments, the numbers add up to an unsustainable budget,” the report said.

AAUW said in its report that women who have “untenable outstanding debt” need to be helped and that preventing such debt requires “putting the right support into place.”

“AAUW is dedicated to getting the college debt crisis under control,” the report said.

AAUW has worked for the fair treatment of women in higher education since 1881.