Read more, via FiveThirtyEight:
from Addo and sociologist Jason Houle found, for example, that if younger Black adults held the same level of debt as their white peers, the racial wealth gap in young adulthood would be reduced by about 10 percent. Addo and Houle also found that student debt’s contribution to the racial wealth gap increased with age, from 13 percent at 25 to 23 percent at 30.
The authors found, further, that this growing divide was not because of more Black Americans attending college, but due to disproportionate exploitation by predatory lenders., a professor of sociology, criminology and African American studies at the University of Iowa and a co-author of the paper, said the fact that Black students tend to carry far more student debt contradicts the idea that higher education is a means to mobility.
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