Due to student loan debt black women are experiencing unequal salaries.
Black women receiving unequal salaries due to student loan debt (Photo: GMA)
Black women experience unequal salary
According to an analysis by the American Association of University Women, women in the United States are responsible for over two-thirds of all outstanding student loans. According to the Census Bureau, Black women are more likely than any other gender group to have college debt, with about 1 in 4 of them doing so. When it comes to paying back their school loans, black women likewise receive minimal assistance. According to a study published last year by the nonprofit organization The Education Trust, which focuses on student equity, Black women are still in debt more than ten years after they first enrolled in college, owing 13% more than they borrowed, compared to white males, who have paid off 44% of their debt on average.
Katie Kindelan reported that Due to a number of variables, including the shift that occurred decades ago when the burden of paying for college began to fall more heavily on individual families, Black women are more burdened with student debt than other gender groups. Due to the fact that many Black women are first-generation college students, they might not be as familiar with the process of applying for financial assistance and the details of repayment, according to experts.
In a 40-year career, a Black woman with a Ph.D. earns 65 cents for every dollar a white, non-Hispanic man earns with the same education, according to data from the NWLC. This represents a loss of more than $2.1 million.
Black women testimonies
As a first-generation college student, she racked up tens of thousands of dollars in debt while pursuing both her bachelor’s and master’s degrees. Ravenn Moore, a 43-year-old mother from the Detroit area said. Moore said that during the following ten years, the interest on her college loans caused her debt to increase to more than $100,000. Moore, who is currently the director of a nonprofit, also said that it took her ten years to advance in her job to the point where she was making more than $50,000 annually.
The report’s co-author, mother-of-three Brittani Williams, a senior policy analyst in higher education at The Education Trust, said she presently has tens of thousands of dollars in student debt, which she said is only increasing as she works toward a doctorate.
Williams said she had harbored the aim of earning a doctorate “for quite some time,” and she was prepared to work toward it in the hopes that it will be fruitful in the future.
According to Martin, Black women furthermore experience both conscious and unconscious gender and racial stereotypes that result in lower compensation for the same work. Martin claimed that women’s labor has historically been underestimated in the workforce.
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