Of particular concern is that even African American bachelor’s degree recipients appear to be having difficulty repaying their loans

Given their higher debt levels, African American students would have more difficulty than others repaying their loans even if their post-college earnings were similar. But African American (and Hispanic) adults between the ages of 25 and 34 have lower earnings than white payday cash advance Elyria Ohio and Asian adults with the same level of educational attainment-further exacerbating an already uphill climb to student loan repayment. For example, median earnings for bachelor’s degree recipients in 2016 were $41,529 for African American young adults, $41,664 for Hispanics, and $47,478 for white adults in this age range (Table 8).

In addition to having lower earnings than their peers, African American borrowers in repayment on their student loans are less likely than others to have assistance from parents or others in repaying their loans. Among students who began college in 200304, the range of borrowers saying after they left school that they had help repaying their loans was from 10 percent among African American borrowers to 20 percent among Asian borrowers (Table 9).

Repayment

The release of new data from the U.S. Department of Education has recently focused attention on the repayment patterns of African American borrowers. Read more