Judith Scott-Clayton Co-Authors Paper on Black-White Student Loan Debt Disparity | Education Policy & Social Analysis

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Education Policy & Social Analysis

Judith Scott-Clayton Co-Authors Paper on Black-White Student Loan Debt Disparity

Brookings has published a new report on the dispartiy in student loan debt between black and white graduates, co-authored by Judith Scott-Clayton.

Executive Summary:

The moment they earn their bachelor’s degrees, black college graduates owe $7,400 more on average than their white peers ($23,400 versus $16,000, including non-borrowers in the averages). But over the next few years, the black-white debt gap more than triples to a whopping $25,000. Differences in interest accrual and graduate school borrowing lead to black graduates holding nearly $53,000 in student loan debt four years after graduation—almost twice as much as their white counterparts. While previous work has documented racial disparities in student borrowing, delinquencies, and defaults, in this report we provide new evidence that racial gaps in total debt are far larger than even recent reports have recognized, far larger now than in the past, and correlated with troubling trends in the economy and in the for-profit sector. We conclude with a discussion of policy implications.

Read the full Article at the Brookings website here

Published Thursday, Oct. 20, 2016

Judith Scott-Clayton Co-Authors Paper on Black-White Student Loan Debt Disparity

Brookings has published a new report on the dispartiy in student loan debt between black and white graduates, co-authored by Judith Scott-Clayton.

Executive Summary:

The moment they earn their bachelor’s degrees, black college graduates owe $7,400 more on average than their white peers ($23,400 versus $16,000, including non-borrowers in the averages). But over the next few years, the black-white debt gap more than triples to a whopping $25,000. Differences in interest accrual and graduate school borrowing lead to black graduates holding nearly $53,000 in student loan debt four years after graduation—almost twice as much as their white counterparts. While previous work has documented racial disparities in student borrowing, delinquencies, and defaults, in this report we provide new evidence that racial gaps in total debt are far larger than even recent reports have recognized, far larger now than in the past, and correlated with troubling trends in the economy and in the for-profit sector. We conclude with a discussion of policy implications.

Read the full Article at the Brookings website here

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