An American Association of University Women (AAUW) report, Deeper in Debt: Women and Student Loans, estimates that women hold almost two-thirds ($833 billion) of the country’s $1.3-trillion student debt while men hold $477 billion.

The report reveals that women also take on larger student loans than do men. And because of the gender pay gap, they have less disposable income with which to repay their loans after graduation, requiring more time to pay back their student debt than do men.

As a result, women hold nearly two-thirds of the outstanding student debt in the United States — more than $800 billion.

“It’s encouraging that women are enrolling in college more than ever before, but at the same time they are taking on larger amounts of debt to pay for their dreams,” said Kevin Miller, Ph.D., the senior researcher for AAUW. “Because of factors like the gender pay gap, debt that could be manageable ends up becoming unmanageable, particularly for women.”

More than half of graduating U.S. college students have financed some or all of their education with student loans.

Women now earn 57 percent of bachelor’s degrees from U.S. colleges and universities, and AAUW estimates that women take on average two years longer to pay off their student debt than men do.

“Women face a catch-22: go to college and take on student loan debt but get a higher paying job or, alternatively, forgo college and avoid the debt, but be locked out of higher-wage careers. We need to do better,” said Miller.

Following graduation, women repay their loans more slowly than do men, in part because of the gender pay gap. Women with college degrees working full time make 26 percent less than their male peers, which leaves women with less income on average to devote to debt repayment.

And thanks to student debt, women are more likely than men to experience financial difficulties:

Thirty-four percent of all women, 42 percent of Hispanic women, and 57 percent of black women who were repaying student loans said they had been unable to meet essential expenses within the past year.

“This isn’t just a student problem, it’s a gender inequity problem and it impacts us all,” said Anne Hedgepeth, senior government relations manager at AAUW. “As a nation, we rely on women to add to and strengthen our economy. That can’t happen under mountains of student debt.”

“Imagine if there are cuts to Pell or to other financial aid programs. Women’s $833-billion problem could become even worse. The solutions are diverse, and they tackle the challenges students face before and after attending college. It’s time for policymakers, institutions of higher education, and us as a nation to commit to fixing this problem for women and for all student borrowers.”

The American Association of University Women (AAUW) empowers women and girls through advocacy, education, philanthropy, and research. Our nonpartisan, nonprofit organization has more than 170,000 members and supporters across the United States, as well as 1,000 local branches and 800 college and university members. Learn more at www.aauw.org.