From an American Association of University Women press release:
May 21, 2018
Amy Becker, [email protected]
Women Hold Majority of College Debt — and Take Longer to Pay It Off
WASHINGTON – A new update to the American Association of University Women (AAUW) report, Deeper in Debt: Women and Student Loans, finds that women hold almost two-thirds ($890 billion) of the country’s $1.4-trillion student debt while men hold $490 billion. The student loan gender gap has nearly doubled in the past four years, and women now graduate with an average of $2,700 more debt than men when earning a bachelor’s degree.
The newly-released data from the 2015-16 National Postsecondary Student Aid Study also reveal that:
Women comprise 56 percent of enrolled college students, but hold 65 percent of outstanding student loan debt;
71 percent of women have student loan debt at bachelor’s graduation compared to 66 percent of men; and
Black women graduate with the most debt – at $30,400 – compared to $22,000 for white women and $19,500 for white men….
The press release doesn’t give a figure for black men.
… Women with college degrees who work full time make, on average, 26 percent less than their male peers, which leaves women with less income to devote to debt repayment. Compared to white men with bachelor’s degrees, black and Hispanic women with bachelor’s degrees make 37 percent and 34 percent less (respectively) and struggle to repay their loans as a result.
Student debt, especially student debt a number of years down the road at a point when some people have paid off their debts and some haven’t, tends to correlate with having high self-esteem and low visual-spatial-math IQ.
From another AAUW press release:
For-Profit Institutions: An Expensive Alternative
Though they enroll a relatively small portion of American college students, for-profit institutions disproportionately enroll women, people of color, low-income students, and members and former members of the U.S. military. For-profit institutions use advertising and high-pressure recruitment tactics to woo students and their student aid and loan money, but debt outcomes for students at these institutions are particularly dismal. Even after accounting for student demographics, for-profit institutions have low completion rates and high default rates — a matter of serious concern for student loan borrowers, researchers, and policymakers.
I know a black woman of limited intelligence who ran up high 5 figure debts to a for-profit college that kept telling her that, after a few more expensive courses from them, she was going to make a good living in a cognitively demanding technical field.
For-profit colleges largely exist to exploit financially people with two-digit IQs by appealing to our society’s dominant Blank Slate anti-IQ ideology. In contrast, not-for-profit colleges such as Harvard exist to facilitate IQ exclusiveness among those with high 3-digit IQs.
My impression of for-profit colleges is that’s the basic business model: be IQ-inclusive in order to exploit (somewhat) subsidized loans. In contrast, the basic business model of not-for-profit colleges is to be IQ-exclusive. It’s a pretty funny paradox, but one reason we don’t have a good debate over for-profit colleges is because nobody, left or right, wants to be terribly honest about how either for-profit or not-for-profit colleges work.