The student debt crisis has many faces, from students dealing with private loans and high interest rates to those with debt but no degree.
This story was supported by the journalism nonprofit the Economic Hardship Reporting Project. Early on a Thursday morning in Jacksonville, Florida, Ryan Moran and his wife are chatting over breakfast. The couple talk finances, bills, monthly budgets, and the possibility of buying their first home. The COVID-era federal student loan moratorium would have been a relief for their finances if not for the private student loan bill arriving like clockwork every month during the pause.
Because when it rolled out, it was saying something along the lines of, ‘Oh, this is going to help Black debtors a lot, especially those who did some of their schooling and didn't finish it.’ A lot of us had private loans because we went to private schools, so we had federal and private loans through our schools. I was really skeptical about how that was supposed to help out the Black community, but I was just relieved for some sort of debt relief.
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