Women aren’t the only ones who face larger barriers to repaying student debt. Statistics released by Campus Progress and the Center for American Progress in a 2012 report, “The Student Debt Crisis,” demonstrate how much heavier the student debt burden is for minorities.
The report states that 27 percent of black bachelor’s degree holders had more than $30,500 in loans, compared with 16 percent of white bachelor’s degree holders. More black students who left school without finishing a degree cited student debt as the reason than their white peers – 69 percent versus 43 percent – and 74 percent of Latinos who opted out of attending college cited finances as the reason, the report states.
There are several factors that create these discrepancies. A higher percentage of minority students graduate with student loan debt than their white peers and – as the report points out – have higher rates of unemployment, affecting their repayment power.
Find out more on what we’re doing to tackle the student debt crisis at itsourinterest.org