Majoring in Debt: Why Student Loan Debt is Growing the Racial Wealth Gap and How Philanthropy Can Help
Author: Karen Biddle Andres, Raquan Wedderburn
Topic: Asset building and saving, Credit & Debt
Publisher: AFN - Asset Funders Network
Location: United States
Format: Webinar
Content Type: Research
Publication Date: October 15, 2020

More than 44 million people in America have taken on student debt to pursue a post-secondary education. These borrowers collectively owe around $1.6 trillion in student loan debt. Borrowers exist in every community, but some are particularly vulnerable to its impact.  Women hold two-thirds of all outstanding student debt and Black and Latinx borrowers disproportionately struggle with repayment.

This webinar discussed the disparate impact of student loan debt on black and Latinx students and the following topics:

  • the state of student debt across the country,
  • the disparate impact debt has on low-income borrowers and borrowers of color, and
  • tangible, targeted philanthropic solutions aimed at alleviating the balances of borrowers with $10,000 in outstanding loans or less
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