The rising growth of student debt among Black women postgraduates highlights an alarming trend impacting social class attainment and economic mobility. Federal loan programs increase college access for students of color; however, these programs also contribute to racial disparities that influence students' academic outcomes and financial well-being. Black graduate students accumulate $25,000 more in debt compared to their White peers, perpetuating educational and wealth disparities (Chan et al., 2019). Despite extensive research on student debt, very few studies have examined the connection between student debt and social mobility for Black postgraduates. In particular, the relationship between Black women postgraduates' student debt, barriers to social mobility, and psychological well-being remains underexplored. This qualitative study aimed to uncover the risks associated with student debt and its impact on social mobility, wealth attainment, and mental health wellness among Black women postgraduates. Utilizing Seidman's structured phenomenological interviewing method, in-depth interviews were conducted with four participants to explore how student debt influences their educational pursuits, financial stability, and social mobility. The data analysis revealed five major themes: educational pursuits as a pathway to social mobility and family influence, self-guided financial aid understanding amid support gaps, myth of the American dream, educational disparities and financial barriers, and the emotional and psychological impacts of student debt. Findings showed that while education is often viewed as a route to social mobility, Black women face long-term financial challenges that hinder their ability to achieve the American Dream despite their academic achievements. The findings signal a call for policy and college and university reforms aimed at addressing economic inequality and reducing the burden of postgraduate indebtedness for Black women. Additionally, the emotional and psychological toll of student debt warrants further exploration, as participants described significant stress in managing debt while balancing career advancement and personal well-being. Researchers should continue to examine the intersectionality of race, gender, and economic policy in shaping postsecondary educational outcomes and the long-term effects of student debt on social mobility and wealth accumulation. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://www.proquest.com.bibliotheek.ehb.be/en-US/products/dissertations/individuals.shtml.]