Black Graduates Owe More Debt Than White, Asian, or Hispanic Graduates
Many students graduate with manageable debt or no education loans, but almost 17 percent of graduates in 2008 borrowed $30,500 or more to get their bachelor’s degrees, according to a new analysis.
A report released today by the College Board Advocacy & Policy Center, also said that students who borrow the most are disproportionately black, and are more likely to have attended a private nonprofit or for-profit college than a public four-year college. But debt levels did not necessarily reflect family income.
Over all, the analysis—based on data from 2007-8 graduates in the “National Postsecondary Student Aid Study”—revealed that about two-thirds of all those who received a bachelor’s degree graduated with some amount of loan debt.
About 25 percent of all college-degree recipients graduated with at least $24,600 in debt, and 10 percent graduated with at least $39,300, says the report, “Who Borrows Most?: Bachelor’s Degree Recipients With High Levels of Student Debt.”
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