Repayment tips for women struggling with student loan debt [Video]

Nearly two-thirds of the country’s outstanding student debt is held by women.

Women graduate college owing $2,700 more, on average, than their male counterparts, according to the American Association of University Women. Among undergraduate students in bachelor’s degree programs in 2019-2020, 54% of men graduated with student loans, compared to 66% of women, according to higher education expert Mark Kantrowitz.

One major reason women tend to borrow more, experts say, is the fact that they often face additional caretaking responsibilities that can leave them with higher expenses and less able to work while they’re in school.

After graduation, men also typically pay down their student debt faster, since they earn more. Men with a bachelor’s degree pull in a median weekly earnings of $1,632, compared with $1,248 for women, the U.S. Department of Labor has found.

“We find that women borrowers tend to …