FINANCIAL

These Are The Students Most Crushed By The Debt Crisis

By Anna Orso
Philly.com

WWR Article Summary (tl;dr) A recent analysis from the nonprofit American Association of University Women found that although women make up a little more than half of students enrolled in college, they hold nearly two-thirds of the outstanding student debt.

Philly.com

Two months and a $14,110 bill stand between Rhapsody Taylor and her dreams.

A rising junior at the University of the Arts, Taylor is a straight-A student stuck in an impossible situation: She can’t afford tuition costs to return to school in the fall, and her mother’s own $80,000 in student debt left her without a loan cosigner.

What remains is a tab, UArts’ $44,000 annual tuition minus grants and scholarships, that the 20-year-old from Pennsauken has no idea how she’ll pay by August.

Her mother, Shawnta, 46, said she wishes she could cosign a loan, but can’t due to debt, largely accrued from her own graduate studies in 2015 at a for-profit online university.

“I feel like somewhere,” she said, “I failed.”

The image of a student plagued by debt is often of a middle-class millennial who owes $100,000 from attending a four-year college.

Those students are no doubt struggling, whether it’s having trouble affording a down payment on a house or delaying marriage until they’re in a better financial situation.

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