Black women owe 22% more in student debt than white women

In the United States, women owe the majority of the outstanding US$1.7 trillion dollars in student loans. As of 2020, women held almost US$929 billion in outstanding student debt, writes Abigail Johnson Hess for CNBC.

And according to a new report from the American Association of University Women (AAUW), black women carry about 20% more student debt than white women do. Researchers estimate that one year after graduation, white women owe US$33,851 in undergraduate loans, on average, while black women owe an average of US$41,466. Among those with graduate school debt, white women are estimated to owe US$56,098, on average, while black women owe closer to US$75,085.

“While there are more black women enrolled in higher education than ever before, it’s deeply concerning that black women hold so much more student debt than their white counterparts,” says Kim Churches, CEO of the AAUW. “Sadly, though, it’s unsurprising: It’s a stark reflection of the wide racial wealth gap in our country that leaves black families with less money to contribute to higher education.”
Full report on the CNBC site