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2016 Postmortem
Related: About this forumBernie's Tuition Plan Especially Benefits African-American College Students:
Bernie's proposed plan for college tuition would help African-American students the most:Half of black college students graduate with more than $25,000 in student loan debt
http://www.theguardian.com/money/us-money-blog/2014/oct/07/expensive-college-education-reinforces-racial-inequality-us-america
The dropout rate for black students is now at 8%, a record low. At the same time, the number of black 18-to-24-year-olds who have a high school diploma or an equivalent has increased to 82%, according to Pew Research Center.
A high school degree, however, will only get you so far.
Higher education has long been viewed as the way out of poverty. Unfortunately, it comes at a cost: student loan debt. For black students this cost is often greater than for their white classmates.
This burden often follows them for decades after school, reinforcing income and racial inequalities that are so prominent in the US.
A Gallup poll released in September found that in the last 14 years about half of black college students graduated with student debt over $25,000 whereas only 35% of white students did. During that same time, the number of black Americans enrolled in college had increased by 74%. In 2012, the total number of black college students was 2.96 million, up from 1.7 million in 2000. Black students make up 15% of US college students.
Often, the only way for these students to afford the college education that eludes many of their friends and classmates is by taking on loans. Four out of five black students take out loans to go to college. They are also the most likely to hold the most debt with an average debt burden of $28,692 as compared to $24,742 for white students, according to a 2012 report by the Center for American Progress.
The income inequality is often emphasised by racial inequality. A Demos analysis of a recent US census report showed that on average white high school dropouts have more wealth than black college graduates.
White families with less than a high school education have $161,000 of wealth, which is higher than every black and Hispanic family, except those with college degrees, Matt Bruenig wrote on Demoss Policyshop blog.
Black families with college degrees have a mean wealth of $162.8k, which is effectively the same as the mean wealth of white families with less than a high school education.
The plight of black students should not come as a surprise. There is deep racial inequality in the US. In 2013, the median income for black households was just $34,600. The poverty rate for black Americans is 27%, almost three times that of white Americans.
Even those that manage to make it to college, often drop out because the financial burden is just too much. The most recent college graduation rate for black students is 20.5%, about half of the total US graduation rate of 39%. Its not that they lack drive or ambition. Its that they often cant afford to stay in school. According to the Center for American Progress, 69% of black students who dont finish school cite the burden of high student loan debt as the reason, compared with 43% of their white peers.
A high school degree, however, will only get you so far.
Higher education has long been viewed as the way out of poverty. Unfortunately, it comes at a cost: student loan debt. For black students this cost is often greater than for their white classmates.
This burden often follows them for decades after school, reinforcing income and racial inequalities that are so prominent in the US.
A Gallup poll released in September found that in the last 14 years about half of black college students graduated with student debt over $25,000 whereas only 35% of white students did. During that same time, the number of black Americans enrolled in college had increased by 74%. In 2012, the total number of black college students was 2.96 million, up from 1.7 million in 2000. Black students make up 15% of US college students.
Often, the only way for these students to afford the college education that eludes many of their friends and classmates is by taking on loans. Four out of five black students take out loans to go to college. They are also the most likely to hold the most debt with an average debt burden of $28,692 as compared to $24,742 for white students, according to a 2012 report by the Center for American Progress.
The income inequality is often emphasised by racial inequality. A Demos analysis of a recent US census report showed that on average white high school dropouts have more wealth than black college graduates.
White families with less than a high school education have $161,000 of wealth, which is higher than every black and Hispanic family, except those with college degrees, Matt Bruenig wrote on Demoss Policyshop blog.
Black families with college degrees have a mean wealth of $162.8k, which is effectively the same as the mean wealth of white families with less than a high school education.
The plight of black students should not come as a surprise. There is deep racial inequality in the US. In 2013, the median income for black households was just $34,600. The poverty rate for black Americans is 27%, almost three times that of white Americans.
Even those that manage to make it to college, often drop out because the financial burden is just too much. The most recent college graduation rate for black students is 20.5%, about half of the total US graduation rate of 39%. Its not that they lack drive or ambition. Its that they often cant afford to stay in school. According to the Center for American Progress, 69% of black students who dont finish school cite the burden of high student loan debt as the reason, compared with 43% of their white peers.
Half of black college graduates leave school with more than $25,000 in student loan debt
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Bernie's Tuition Plan Especially Benefits African-American College Students: (Original Post)
amborin
Feb 2016
OP
ny times reported that African American college grads don't fare as well after graduation b/c debt
amborin
Feb 2016
#3
orpupilofnature57
(15,472 posts)1. Now that is more than Fist shaking and Platitudes .
Uncle Joe
(58,366 posts)2. Kicked and recommended.
Thanks for the thread, amborin.
amborin
(16,631 posts)3. ny times reported that African American college grads don't fare as well after graduation b/c debt
liberal_at_heart
(12,081 posts)4. K&R
Arazi
(6,829 posts)5. Yes but HRC will issue signing statements!!1!!!11
i kid you not, I was given that as a rationale this morning for why AAs want HRC
amborin
(16,631 posts)6. one reason for the black/white wealth gap is African-American student loan debt after graduation
Anytime
College Debt Is Crippling Black Graduates'...
www.huffingtonpost.com/2015/02/18/student-loans-race_n...
Feb 17, 2015 · Millions of Americans are plagued by student loans, an albatross hindering them from taking adult financial steps like buying a house or moving out of Mom ...
Student Debt Affects Black Students More ... -...
www.bloomberg.com/.../student-debt-affects-black-students...
Black students rely more on student loans to pay for college than do other ... of black students are in debt than ... wealth of black families and ...
Black College Grads More Likely to Graduate With ...
www.gallup.com/poll/176051/black-college...debt.aspx
... than $25,000 in student loan debt. Black college grads show lower ... student loan debt. Gallup did not ask ... and wealth gap between the races ...
Less Debt, More Equity : Lowering Student Debt...
www.demos.org/publication/less-debt-more-equity-lowering...
Less Debt, More Equity: Lowering Student Debt While ... in wealth (assets minus debt) between Black and white ... completing college, debt amounts ...
Black College Graduates Leave With Diplomasand a...
www.theatlantic.com/education/archive/2014/09/black...
Black College Graduates Leave With Diplomasand ... black college students have far fewer resources to pay for ... Black College Grads Carry More Debt After ...
College Debt Is Crippling Black Graduates'...
www.huffingtonpost.com/2015/02/18/student-loans-race_n...
Feb 17, 2015 · Millions of Americans are plagued by student loans, an albatross hindering them from taking adult financial steps like buying a house or moving out of Mom ...
Student Debt Affects Black Students More ... -...
www.bloomberg.com/.../student-debt-affects-black-students...
Black students rely more on student loans to pay for college than do other ... of black students are in debt than ... wealth of black families and ...
Black College Grads More Likely to Graduate With ...
www.gallup.com/poll/176051/black-college...debt.aspx
... than $25,000 in student loan debt. Black college grads show lower ... student loan debt. Gallup did not ask ... and wealth gap between the races ...
Less Debt, More Equity : Lowering Student Debt...
www.demos.org/publication/less-debt-more-equity-lowering...
Less Debt, More Equity: Lowering Student Debt While ... in wealth (assets minus debt) between Black and white ... completing college, debt amounts ...
Black College Graduates Leave With Diplomasand a...
www.theatlantic.com/education/archive/2014/09/black...
Black College Graduates Leave With Diplomasand ... black college students have far fewer resources to pay for ... Black College Grads Carry More Debt After ...
LWolf
(46,179 posts)7. Yep. nt