Inclusion has become a staple of modern branding, often reduced to diverse photos and taglines. But inclusion without structural change is cosmetic. It doesn't erase exclusionary practices or expand access to systems designed without everyone in mind. When it comes to the student debt crisis, a truly inclusive approach requires more than representation; it requires re-imagining how financial solutions are built, who they serve, and what values they uphold.

Odds are that especially younger people in your life, from your kids to colleagues to friends and other family members, are carrying a heavy burden of student debt. They did what society asked of them: pursued higher education with the hope of a better life. But in return they were penalized with compounding interest, mental anxiety, and delayed life milestones (i.e. buying a house, saving for retirement, starting families).

I saw this up close in my own family and community. The people I love were doing everything right, but they couldn't escape the math of student loans, which actually made their balances grow when confronted with financial hardship. As a financial practitioner who has built a career designing financial products and services for inclusion and impact, I knew we had to create something different.

Did you know that women in the U.S. hold nearly two-thirds of the nation’s $1.7 trillion student debt? which is nearly 67% of all U.S. student loan debt, or approximately $929 billion. As we mark International Women’s Day, it’s crucial to shine a light on the hidden financial struggles women face.

Women, particularly women of color, carry a heavier student debt load than men, women earning a bachelor’s degree graduate owing an average of $2,700 more than their male peers a burden that compounds over time due to systemic inequities like the gender pay gap and higher education costs. This debt doesn’t just affect their wallets; it shapes their futures and restricts opportunities.

One of the biggest reasons of this disparity is gendered wage gap from the beginning. Women graduating with a bachelor’s degree are expected to earn $35,338 on average, which equates to approximately 81% of what men anticipated to earn. Female borrowers typically require more education to earn a wage equal to less-educated men. Women earn just 85 cents for every dollar their male counterparts make, leaving them with less income to allocate toward student loan payments. According to an AAUW study, this pay gap directly impacts their ability to repay debt while men pay off 13% of their student debt annually, women can only afford to pay 10%. 

Other contributing factor is the higher enrollment of women in for-profit institutions. Women make up 63% of students at for-profit colleges, compared to 55% at public four-year colleges. Compounding this issue, the average tuition at for-profit colleges is double that of public colleges—16,000 versus 8,000, respectively.

Many of the fields that attract a higher proportion of women, such as education, social work, and healthcare, require significant education but offer lower salaries. Surprisingly, some of the industries with the largest pay gaps had the greatest shares of female workers. A study from GAO (Government Accountability Office) looked at the gender pay gap across 14 broad groups of industries, and found that the pay gap was largest in the health care and social assistance industry. In these fields, women made up 77% of workers and earned only 43 cents on average compared to every dollar earned by men.

Women disproportionately shoulder the burden of care giving, often taking on unpaid roles caring for family members, particularly older relatives or those with disabilities. Unpaid care work is essential to the functioning of society, but it often goes uncounted and unrecognized. By 2050 women globally will still be spending on average 2.3 more hours per day on unpaid care work than men based on the current trajectory.

These factors are hindering women's economic security, wellbeing, and career expectations. Many women delay purchasing a home, starting a family, or saving for retirement due to student loan obligations. The stress of student debt can lead to anxiety, financial insecurity, and limited career choices. Women may feel forced into jobs that prioritize immediate loan repayment rather than pursuing fulfilling, long-term career growth.

Key Steps To Alleviate the Financial Burden on Women:  

Decrease the Wage Gap: Ensure fairer wages across genders through legislative measures like the Paycheck Fairness Act.

Make Education Affordable: Reduce tuition costs and increase grant access to lower the need for excessive borrowing.

Extend Loan Forgiveness: Expand income-driven repayment plans and loan forgiveness options tailored to women-dominated fields.

Increase Funding for Public Colleges and Universities: Provide sufficient funds and support so that women have tuition- and debt-free options to complete their education.

Improve Financial Literacy: Women’s empowerment and financial literacy go hand in hand. As an example, teaching women to find the best ways to fund their education more affordably, and enabling them to negotiate salaries and benefits will help them gain financial freedom.

The student debt crisis is more than a financial issue; it’s holding women back from achieving their potential and living life to the fullest. We hope that this International Women’s Day, we make progress in tackling the hidden burden of student debt—one step closer to a fairer, more equitable world.