Women across the U.S. are “drowning in debt”

Last week, MSNBC reported the jarring burden student loans pose for women, especially women of color, and how that impacts their personal lives:

“Tasha Kaminsky, a director of development at a non-profit organization in St. Louis, would love to have children. In many ways, the timing could not be better. Kaminsky, 33, is happily married, has a stable job and owns a home. Standing in the way, however, is one major obstacle: her student loan debt.

It's been 10 years since Kaminsky took out a $75,000 federal loan for graduate school, and she has never missed a payment. Before the pandemic-era pause on federal loan repayments took effect in March 2020, between $250 to $500 of her salary went towards paying off her debt every month. After a decade of payments, Tasha still owes $107,411.

‘I genuinely think I will just die in debt,’ Kaminsky told Know Your Value.”

This report comes at a time when a woman’s right to their own bodily autonomy is being put on the line, courtesy of the U.S. Supreme Court draft that was leaked earlier this month. In a climate wherein reproductive rights are being impeded on, a woman’s right to financial freedom and choice are more crucial than ever. One of the biggest dilemmas women are dealing with in the face of student debt is the decision between paying off loans and starting a family. With the Supreme Court draft in mind, student loans will likely become an unprecedented financial burden with the potential to widen the gender gap even further. 

Read the full article here.