President Biden’s student debt plan will provide relief to some 43 million borrowers of all races—and it is a particularly important step towards narrowing the racial wealth divide.
Black graduates also face greater challenges in paying off their student debt because of the systemic racism in education, employment, housing, and other areas that creates economic disadvantages. The student debt crisis has disproportionately affected Black families, exacerbating racial inequalities. On average, Black students have to take out larger loans to get through college than their White peers. Astudy reveals that Black Bachelor’s degree graduates have 13 percent more student debt and Black Associate’s degree graduates have 26 percent more than White graduates with those degrees.
Black women have the largest student debt burdens of all. Those who received bachelor’s degrees in 2015-2016 have average student debts of $37,558, compared to $31,346 for White women, according to a 2020 analysis by theBlack graduates also face greater challenges in paying off their student debt because of the systemic racism in education, employment, housing, and other areas that creates economic disadvantages.
Debt cancellation will be a boost not only for borrowers, but the economy as a whole. Research by the
College isnt the answer for everyone i cluding the poor...immrdiate earnings more realistic trades tech....unless you have top 5% grades in physics