The student loan debt crisis continues to plague millions of Americans, with the average borrower holding a balance of $38,792. By and large, this means that many college graduates enter the workforce with a negative net worth while facing immense hurdles when it comes to buying a home, building wealth or achieving other financial goals.
But some Americans have taken a bigger hit when it comes to student loan debt. In fact, a recent analysis from the American Association of University Women (AAUW) shows that women hold approximately two-thirds of all student loan debt in the United States. Not only that, but Black women in particular graduate with more undergraduate debt than other women.
If we hope to solve the student loan debt crisis, we have to look at the root causes of this issue, as well as why women struggle more to repay their loans after they graduate.
