20 years after the first year of college, the typical white student has paid down 94% of their borrowed amount.
20 years after the first year of college, the typical Black student still owes 95% of their initial borrowed amount.
So US college education and loans *increase* the racial wealth gap, not reduce it
Student Loan Debt | The Department of Financial Protection and Innovation
Celina Damian, California Student Loan Ombudsperson, on the disproportionate student debt burden and how she helps borrowers navigate long-term debt.
The Department of Financial Protection and Innovation (dfpi.ca.gov)
Which is the real reason that some US folk are so against student loan forgiveness: much of that *$2 trillion* in debt, is held by educated Black women.
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