STEMinists rising: Encouraging the next generation of women in technology

The journey of women in STEM is one of resilience, innovation and breaking stereotypes. Despite progress, women still represent only 35% of STEM students globally, with certain fields like computer science seeing even lower participation rates – only 19% in the U.S. Financial constraints, cultural norms and systemic barriers continue to limit opportunities for many aspiring female technologists.

Firms like MPOWER Financing are helping to change this narrative by providing no-cosigner loans that empower women from underserved communities to independently finance their education. By eliminating financial hurdles, MPOWER enables more women to pursue degrees in high-demand STEM fields, increasing diversity and representation in technology. An impressive 68% of MPOWER’s female students are enrolled in STEM programs, a figure that significantly surpasses both global and U.S. averages.

Computer science remains a crucial yet underrepresented field for women. Nationally, only 21% of computer science majors in the U.S. are women. In contrast, 40% of MPOWER’s computer science students are female – almost double the national average. This is a testament to the impact of targeted financial support and progress in bridging the gender gap in technology.

Financial support plays a vital role in fostering gender diversity in STEM. MPOWER’s Women in STEM Scholarship provides much-needed financial assistance to aspiring female technologists, reducing economic barriers and motivating more women to enter and excel in STEM fields. The availability of such resources is critical in empowering the next generation of female innovators.

Women pursuing STEM careers enter some of the fastest-growing and highest-paying industries, including artificial intelligence, data science and software engineering. By securing financial independence through STEM education, these women are not only transforming their personal futures but also becoming role models for future generations.

Moreover, MPOWER-supported female graduates experience significant financial growth postgraduation. Many achieve economic independence and contribute to their families and communities, reinforcing the far-reaching benefits of investing in women’s education.

Women in STEM often serve as catalysts for change within their communities. Many female STEM graduates inspire and mentor others, creating a ripple effect that encourages more women to enter the field. Additionally, MPOWER’s impact extends beyond individual students:

• Female MPOWER students achieve a 15-fold increase in household income postgraduation.
• 75% of MPOWER graduates send an average of US$645/month back home, supporting at least three family members and contributing to economic development in their communities.

Encouraging more women to enter STEM is not just about gender equality – it’s about unlocking innovation and ensuring economic growth on a global scale. The role of institutions like MPOWER in fostering female participation in technology is vital in challenging societal norms and breaking stereotypes.

MPOWER actively challenges these stereotypes by supporting women’s student abroad journeys. When given the opportunity, women not only thrive but also lead innovation in their respective STEM fields.

Shinora Khan, from Bihar, India, overcame financial hardships to secure admission to the University of California, Riverside, for an MBA in business information systems. Through scholarships and financial aid, including MPOWER’s UDAAN scholarship, she pursued her dream of studying abroad. Her story exemplifies how determined Indian students can achieve their goals despite financial limitations.

“My journey has been fueled by the belief that education, combined with technology and sustainability, can create meaningful impact,” said Shinora. “Scholarships will not only ease my financial burden but also empower me to pursue my passion for developing solutions that drive positive change. My goal is to integrate technology and sustainability into business practices, creating long-lasting, positive change in the industry and community.”

Shinora’s postgraduate studies focus on leveraging data analytics and the Internet of Things (IoT) to help businesses use their resources – such as time, energy and materials – more efficiently, reducing waste and costs while improving overall performance. She is also deeply engaged in community-driven initiatives, recently helping a local organic farm boost its revenue by 40% through enhanced data management. Her vision aligns seamlessly with MPOWER Financing’s mission to nurture a globally innovative and diverse workforce.

As interest in cutting-edge STEM fields continues to rise – evidenced by a fivefold increase in applications for AI and machine learning programs in 2024 for MPOWER Financing – the need for more STEMinists has never been greater. By investing in women’s education and financial independence, we pave the way for a more diverse, innovative and equitable future in technology.