Women Have the Highest Student Loan Debt
The Federal Reserve has released new data regarding the student loan debt crisis. Per the data, out of $1.4 trillion debt pertaining to student loans, women have approximately $900 billion.
American Association of University Women (AAUW)
The AAUW provided insight as to why women carry the more debt that their male counterparts.
- More women are attending college than men.
- Fifty-six percent of those in college are women.
- Women are borrowing more than men. The AAUW’s found that 41% of female undergraduates obtain student loans while only 35% of men.
- Upon graduation, women have $2,700 more in student loan balances than males. That may be related to higher degree pursuits by females.
- Income inequality.
- Women may take more time off from their careers due to maternity leave and raising a family.
Alexander Hernandez, Esq.
Like many other states, Maine also has a student loan forgiveness program.
The Department of Education released data that shows how ineffective the student loan forgiveness program has been.
Attorney Generals from nineteen states plus the District of Columbia sued U.S. Secretary of Education Betsy DeVos and the U.S. Department of Education for failing to implement a borrower protection rule.
Student loan debt is estimated at $1.5 trillion, and with the costs of education increasing, so will the national debt.
Alexander Hernandez has been representing clients since 1999 in the areas of bankruptcy, family law, and personal injury.
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