Bossip Video

grads

Black College Students Graduate With More Debt Than Whites

A new study from the Brookings Institution shows that African-American college students graduate with at least $7,400 more in student loans than their white counterparts reports MIC:

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.

Read the entire study HERE and share your thoughts in the comment section below.

MORE STORIES FROM BOSSIP

Comments

Bossip Comment Policy
Please read our Comment Policy before commenting.