Women need longer to pay off student debts than men
January 4, 2008 by admin
Filed under News, News-Banking
Women need on average five more years than men to pay off their student debts, according to new figures from the government. 
In an answer to a parliamentary question, higher education minister Bill Rammell revealed that female graduates need an average of 16 years to pay off their debts, while men need only eleven.
While the minister stressed that having a degree is worth around £100,000 in lifetime earnings, the Conservatives condemned the situation.
Education spokesman David Willetts said: “This shows that women get a raw deal in the labour market. Women’s earnings are more intermittent and still lower than men’s.”
He suggested that the impact of women taking time away from their careers to raise families was a major factor.
However, National Union of Students women’s officer Kat Stark disagreed.
She said: “Women are taking longer than men to pay off their student loans because they are paid less, not because they are taking time off to have children.”
