More women suffer from student debt than men

Canada Student Loans examines gendered debt

WILLIAM WOLFE-WYLIE, CUP NATIONAL BUREAU CHIEF

TORONTO — (CUP) While women are dominating the post-secondary landscape, they are, on average, deeper in debt and have more trouble paying back their loans once they enter the workforce.

Between 2002 and 2005, approximately 57 per cent of Canadian university students were female. But according to the newly released 2004-05 annual report from Canada Student Loans (CSL), the organization services far more women than that number would suggest.

A total of 337,256 students received a Canada Student Loan in 2004-05. Of those students, 60 per cent were female.

The difference between men and women applying for student loans is even more pronounced when examining part-time students. In the 2002-03 academic year, 65.1 per cent of borrowers were female. By 2004-05, that number had risen to 67.3 per cent of all borrowers.

In addition, women borrowed more money in order to pay for their education and were on average $494 deeper in debt upon graduation.

But the gender gap between who attends post-secondary institutions and who needs help paying for it goes beyond the loan process. Once students graduate and begin paying back their loans, far more women than men are forced to apply for interest relief, the first stage of institutional debtor’s help.

In the first five years after graduation, CSL offers interest relief programs whereby students can apply to cease repayment on their loan for a period of six months without accruing any more interest. Students can apply for interest relief up to five separate times.

At 64 per cent, nearly two-thirds of the 108,000 students who applied for interest relief in 2004-05 were women.

“A large number of people have problems repaying,” said Canada Student Loans director Rosaline Frith at the semi-annual general meeting of the Canadian Federation of Students.

But the issue could have little to do with Canada Student Loans and more to do with barriers to women succeeding in the workforce.

According to Amanda Aziz, the national chairperson of the Canadian Federation of Students, the fact that women are still only making an average of 80 per cent of men’s wages increases the burden on women.

“Women are often the ones who have to take a pause in their career to have children.”

Frith also said that the issue has been noticed by CSL.

“We examine constantly for gender issues,” she said.

Aziz said that the CFS will be working with Frith to further examine how women are being affected by student loan policies and providing input on “what sort of research should be done.”

“It’s a really important area,” said Aziz.





Volume 95 Issue 4	The Official University of Manitoba Students' Newspaper Website	September 05, 2007

Home About Us Advertising Rates Contact Staff Current Issue PDF Employment Letters to the Editor Meet the Staff Online Archives Volunteer Online Classifieds St. Vincent's Academy Diaries	Font Size Respond Email Print-Friendly More women suffer from student debt than men Canada Student Loans examines gendered debt WILLIAM WOLFE-WYLIE, CUP NATIONAL BUREAU CHIEF TORONTO — (CUP) While women are dominating the post-secondary landscape, they are, on average, deeper in debt and have more trouble paying back their loans once they enter the workforce. Between 2002 and 2005, approximately 57 per cent of Canadian university students were female. But according to the newly released 2004-05 annual report from Canada Student Loans (CSL), the organization services far more women than that number would suggest. A total of 337,256 students received a Canada Student Loan in 2004-05. Of those students, 60 per cent were female. The difference between men and women applying for student loans is even more pronounced when examining part-time students. In the 2002-03 academic year, 65.1 per cent of borrowers were female. By 2004-05, that number had risen to 67.3 per cent of all borrowers. In addition, women borrowed more money in order to pay for their education and were on average $494 deeper in debt upon graduation. But the gender gap between who attends post-secondary institutions and who needs help paying for it goes beyond the loan process. Once students graduate and begin paying back their loans, far more women than men are forced to apply for interest relief, the first stage of institutional debtor’s help. In the first five years after graduation, CSL offers interest relief programs whereby students can apply to cease repayment on their loan for a period of six months without accruing any more interest. Students can apply for interest relief up to five separate times. At 64 per cent, nearly two-thirds of the 108,000 students who applied for interest relief in 2004-05 were women. “A large number of people have problems repaying,” said Canada Student Loans director Rosaline Frith at the semi-annual general meeting of the Canadian Federation of Students. But the issue could have little to do with Canada Student Loans and more to do with barriers to women succeeding in the workforce. According to Amanda Aziz, the national chairperson of the Canadian Federation of Students, the fact that women are still only making an average of 80 per cent of men’s wages increases the burden on women. “Women are often the ones who have to take a pause in their career to have children.” Frith also said that the issue has been noticed by CSL. “We examine constantly for gender issues,” she said. Aziz said that the CFS will be working with Frith to further examine how women are being affected by student loan policies and providing input on “what sort of research should be done.” “It’s a really important area,” said Aziz.


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