Student Loan Relief Highlights Burden On Black Borrowers

On average Black borrowers carry a heavier burden of student loan debt than white borrowers. The disparity reflects a racial wealth gap in the U.S. – one that some advocates say the debt relief plan does not do enough to narrow. One in four Black borrowers would see their debt cleared entirely under the administration’s plan, which cancels $10,000 in federal student loan debt for those with incomes below $125,000 a year, or households that earn less than $250,000. Wisdom Cole, national director of the NAACP Youth & College Division, said more work needs to be done to make higher education accessible and affordable.