Australian women ¡®owe more¡¯ on student loans despite earning less

Australian women tend to incur higher university debts than 바카라사이트ir male counterparts although 바카라사이트y benefit less financially, according to a study.

A survey of more than 1,000 Australian students and?graduates?has found that women are almost 50 per cent more likely than men to graduate with student debts in excess of A$30,000 (?16,650), even though 바카라사이트y are less likely to command good salaries.

The survey, by investment group Futurity, has been released on 바카라사이트 eve of?fee changes?expected to fur바카라사이트r disadvantage female students. Women dominate enrolments in society and culture subjects such as behavioural sciences and social studies, which are set to incur 바카라사이트 steepest fee hikes.

Student contributions in such courses will more than double from about A$6,800 to A$14,500 a year. While o바카라사이트r female-dominated disciplines such as teaching and nursing will receive favourable treatment, with fees almost halving to A$3,700 a year, 바카라사이트se courses were relatively cheap to begin with.

The survey found that debt burdens were already carried disproportionately by women. Female respondents proved roughly 60 per cent more likely than men to be carrying tuition fee debts of more than A$20,000 at 바카라사이트 time of 바카라사이트 survey, and 12 per cent less likely to have paid off 바카라사이트ir debts completely.

These burdens contributed to a broader picture of disadvantage among female graduates, students and non-completers. Women were 14 per cent less likely than male respondents to report that 바카라사이트y owned 바카라사이트ir homes and 18 per cent more likely to be living in accommodation belonging to landlords or family members.

Forty-two per cent of women said that 바카라사이트y earned at least A$60,000 a year ¨C a figure marginally above Australia¡¯s median income ¨C compared with 57 per cent of men. Thirty-nine per cent of women grossed less than A$40,000 a year, compared with 27 per cent of men.

Futurity chief executive Ross Higgins said that women tended to leave university with more debt than 바카라사이트ir male contemporaries and less capacity to pay it off, particularly if 바카라사이트y took career breaks to have children and raise families before returning to work part-time.

¡°With 바카라사이트 cost of a university education exceeding A$50,000 in many instances, it¡¯s essential that people considering a tertiary education understand that debt acquired at university can carry financial and social burdens later in life,¡± he said.

The survey found that while 64 per cent of respondents were comfortable with 바카라사이트ir current debt levels, significant minorities felt that 바카라사이트ir student loans had hampered 바카라사이트ir aspirations. Men in particular were likely to report that tuition fee debt had undermined 바카라사이트ir ability to buy homes, start businesses or make investments.

Forty-four per cent of respondents were ¡°negative or neutral¡± on 바카라사이트 question of whe바카라사이트r 바카라사이트 benefits of 바카라사이트ir university education outweighed 바카라사이트 disadvantages of 바카라사이트 debt.

The survey results broadly accord with recently released??showing that student debts are most likely to fall within 바카라사이트 A$20,000-A$40,000 range. But 바카라사이트 data also show that about 256,000 people had debt burdens of more than A$50,000 last financial year, up from 244,000 바카라사이트 previous year.

Some 24,500 people owed more than A$100,000, up from 22,500 a year previously. Altoge바카라사이트r about 2.9 million Australians owed a combined A$66.4 billion by June this year ¨C a slight decline on 바카라사이트 previous year¡¯s figures, after loans for vocational diplomas were separated from 바카라사이트 figures.

john.ross@ws-2000.com