“Women are also repaying their debt more slowly”
When this crashes under its own weight, it’ll make the last housing crash look small.
Student loan debt just hit $1.5 trillion. Women hold most of it
Women hold nearly two-thirds of all student debt in the US, according to a report from the American Association of University Women, a group that advocates for equity and education for women and girls.
Part of the reason is that more women go to college. They represented 56% of students enrolled in the fall of 2016.
But that doesn’t explain the whole gender gap.
More women take out loans, and when they do, they borrow more money. The average woman owes $2,740 more than a man upon finishing a bachelor’s degree, the report said.
Women are also repaying their debt more slowly, which can mean they’re paying more in interest over time…
We hit this milestone during the first quarter of 2018, according to Federal Reserve data.
Outstanding student debt currently exceeds auto loan debt ($1.1 trillion) and credit card debt ($977 billion).
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