Black and brown families are subject to economic headwinds and specific policy choices that prevent them from building wealth, including taking on greater student loan debt. Black families in particular are less likely to be able to pay off their debt, more likely to default on their loans, and more likely to face non-tuition barriers like rent, childcare, and low wages. As a result, black college-educated households have substantially less wealth than white households with just a high school diploma.
To remedy this, we need to think big, from guaranteeing debt-free college for all students, to equitably cancelling student loan debt. For more, check out our 2019 report, Debt to Society: The Case for Bold, Equitable Student Loan Cancellation and Reform and our 2018 report, A Blueprint for College without Debt: A Policy and Messaging Guide for States to Make Higher Education Affordable Again