Black women tend to have more college debt. Here's what they can do

There are several steps students can take to tackle college debt.

ByYi-jin Yu via via logo
February 15, 2022, 8:59 AM

According to a recent study from nonprofit The Education Trust, Black students are much more likely to incur the largest average student loan debt out of any group in the United States, including their white peers.

It's a situation Dr. Shamell Bell knows well. Even though she had scholarships, Bell, who is now a Harvard lecturer and single mother, took out multiple student loans to pay for her living expenses while she pursued higher education.

Bell told "Good Morning America" the stress from her college debt has significantly impacted her life. "Every single night, I'm not getting sleep because I'm worried about my bills. I'm worried about loan payments. I'm worried about my credit," she said.

"We were sold a lie with the educational system. I went all the way to the top and I still feel like I failed."

Bell isn't alone. A 2021 report from the American Association of University Women, based in part on federal data, shows that women not only make less than men after graduating from school, they hold more debt, an average of $31,276 more. Black women also borrowed an average of $37,558, more than other racial and ethnic groups overall.

'Every single night, I'm not getting sleep because I'm worried about my bills. I'm worried about loan payments. I'm worried about my credit.'

Financial aid expert Jessica Brown, author of "How To Pay For College When You're Broke," told "GMA" there are several keys to tackling college debt. Here are her recommendations:

Financial advice for incoming students

Related Topics

ABC News Live

ABC News Live

24/7 coverage of breaking news and live events