For most, the path to financial security has been a college degree. But in recent years, the rising cost of higher education and the debt many students take on have made them question that piece of conventional wisdom. Women face an even higher hurdle — an astounding two-thirds of the nation’s $1.3 trillion of college debt is held by them.

That surprising fact was discovered by AAUW when it examined how college debt and the gender pay gap affect women in its report, “Deeper in Debt: Women and Student Loans.” According to its research, more women are going to college and earning degrees and are 57 percent of college students. In addition to two-thirds of college debt being held by women, 44 percent of female undergraduates take out loans, compared to 39 percent of males.

AAUW Honolulu recently discussed those findings and held a panel discussion as to how debt and the gender gap directly affected women in Hawaii.

In Hawaii, females make 83 cents for every dollar a male makes. This makes Hawaii the 10th highest out of all states and the District of Columbia, according to AAUW. The National Partnership for Women and Families pegs the pay gap as taking $2.5 billion out of the pockets of women statewide, or $7,640 per woman per year. According to the National Women’s Law Center, the lifetime wage gap for women in Hawaii is $305,600 over a 40-year career.

Nationally, more women have been attending college than men — and in Hawaii, according to the state Department of Business, Economic Development and Tourism, 31.5 percent of women over age 25 have a bachelor’s degree or higher, compared to 29.4 percent of men. However, nationally, women with some college education make, on average, less than men with high school diplomas. Even women with advanced degrees earn less than men with only college degrees.

The problem of the wage gap, plus graduating with loans, is only compounded in Hawaii by our high cost of living. With these burdens, it’s difficult for women to pursue further education, start a business, buy a home or save for retirement. Economic insecurity can even make it more difficult for women to leave domestic violence situations. These all have effects on future generations.

The overall issue of women receiving lower pay while saddled with student debt means looking at this as a financial security issue. Changes such as free tuition at community colleges and income-based repayment schedules would help to alleviate the pressure of student loan repayments, especially for women.

Policies such as raising the minimum wage, paid family leave and increased child care support also should be explored. One of AAUW Honolulu’s contributions to being part of the solution includes raising the funding for its scholarships from $50,000 to $140,000 this year.

Here in Hawaii, we should be proud that our state’s gender pay gap is smaller, and more of our women have college degrees, than the national averages.

However, with women facing heavier student debt burdens and the highest cost of living in the country, we can and should find ways to better ensure that our women — and their children and families — can find economic security in the Aloha State.

Nicole Woo is senior policy analyst for the Hawaii Appleseed Center for Law and Economic Justice; Janet Morse is scholarship committee chairwoman for AAUW Honolulu.