DEEPER IN DEBT - Lumina Foundation

DEEPER IN DEBT

WOMEN AND STUDENT LOANS

DEEPER IN DEBT

WOMEN AND STUDENT LOANS

Published by AAUW 1310 L St. NW, Suite 1000

Washington, DC 20005

connect@ 202.785.7700

Copyright ? 2017 AAUW All rights reserved

Printed in the United States of America

First printing: May 2017

126-17

Contents

FOREWORD

VII

ACKNOWLEDGMENTS

IX

EXECUTIVE SUMMARY

1

CHAPTER 1 HOW WE ARRIVED HERE

5

CHAPTER 2 WHO BORROWS AND HOW MUCH?

15

CHAPTER 3 THE LONG ROAD OUT OF DEBT

25

CHAPTER 4 CONCLUSIONS AND RECOMMENDATIONS

35

REFERENCES

43

Foreword

Since 1881 the American Association of University Women has worked to ensure that women share fairly in the rewards of higher education in terms of social and economic mobility and equity, the creation and open exchange of transformational ideas, and citizen engagement and leadership. And AAUW's dream for women's equity in education has been realized: Women are succeeding in higher education--outnumbering men--and women's success in education is shrinking the gender pay gap and creating greater opportunities for women. But in order for higher education to continue to serve as an engine for economic mobility, intellectual development, and cultural growth, it must remain accessible to all. Affordability is a necessary part of access to higher education, but higher education today is heavily financed by student loans. This report reveals that student loans are burdening women disproportionately. Time spent in college now sometimes means unmanageable student debt that drags down those seeking greater opportunity, especially low-income women, women of color, and women who drop out before completing a degree or credential. Students are at risk of having their college dreams turn into financial nightmares. This is why AAUW is advocating college affordability, debt-free aid for low-income students, and resources that help students at risk of dropping out to complete their college programs successfully. I hope this report helps readers better understand the obstacles facing women who are entering and leaving college today. The potential of higher education to improve even more women's lives should not be impeded by debt.

Patricia Fae Ho AAUW Board Chair

vii

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