Black College Students Graduate With More Debt Than Whites
Four years after graduation, the difference between what white and black grads owe widens to $25,000, the researchers found, precisely at the time when students should be flourishing in the workforce and beginning to pay the loans down.
While white graduates owe about $28,000 after four years, black degree holders owe more than $52,700 on average, the study showed.
“People need to know about these numbers,” said Judith Scott-Clayton, an economics professor at Teacher’s College at Columbia University and the study’s lead author, in a phone interview.
For-profit graduate programs appear to be part of the problem, she said, with 28% of black graduate students in a for-profit graduate institution. That compares with just 9% of white students today and just 7% of black graduates in 2004.
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