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Student Loans Emerge as a Women’s Issue

Posted By:  |  June 18, 2014  |  0 Comment(s)

Women graduates in 2001 paid 11% of their income toward paying off their student loans one year after graduation, according to a recent Washington Post article. In 2009, women were paying 20% a year to retire that burden. That’s almost twice as much as they faced eight years ago. Or two graduating bachelor degrees ago. Slice it up any way you like and it still chews up a lot more of a professional woman’s income than many can afford. The slices of the pie for commuting, child-care and groceries haven’t gotten any smaller to compensate. Same with the car payment. And the mortgage if you ever managed to get one. Men aren’t much better off. The percent of their income going to student loans increased from 8% in 2001 to 15% in 2009.

Nevertheless, a year after graduation a woman’s student debt burden is greater than a man’s because women earn less than men do, even in the same professions. For every dollar that a man earns, a woman currently earns 82 cents. That means women are set to take longer to get their student loans paid off.

This has become an issue among women and democrats looking at political races coming in the fall. Elizabeth Warren, Democratic senator from Massachusetts is advocating for some relief. Regardless of where women or Democrats are able to take this, a political solution may take time. A woman needs expediency. Re-casting student loan burdens by using a debt relief company to consolidate multiple loans or lower interest rates is possible in about a month or less. You can even get it done this week!


  • How important is it to you for a debt consolidation company to offer financial education resources?
  • Takes your existing debt and try to settle with your creditors for a lower amount. If you pay off the settled amount, your debt will be considered paid in full.
  • Negotiates with your creditors on your behalf.
  • Fee based on a percentage of your total starting debt or a percentage of the debt they save you.
  • Most settlement companies have you create a separate "escrow" account where you will make monthly contributions over a certain amount of time to contribute to your settlement. Once there is a substantial amount of funds to show your creditors, the settlement company will try to negotiate a lower amount of debt.
  • Combines all your debts and creditors into one monthly payment.
  • Allows you to pay one monthly payment to the consolidation company, instead of multiple payments to different creditors.
  • You no longer owe your original creditors; instead you pay one monthly payment to your consolidation company.
  • Consolidation companies can help negotiate lower interest rates on your debts and help lower your total debt payment in the long run. A lower interest rate will lower the amount you owe in the end.
  • Allows you to consolidate all your different debts into one personal loan that can be paid off over time.
  • Can offer borrowers a lower interest rate with a longer payback term (compared to high-interest credit cards or medical bills). This will lower the amount of money required to pay off the loan over time.
  • Personal loan debt consolidation can be an effective way to raise your credit score quickly (within 3-6 months).
  • Borrowers can receive funds from their loan within only a few days.

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