Subscriber Account active since. In the wake of George Floyd's death, the Black Lives Matter protests have shined a spotlight on America's long history of inequality and systemic racism. Education is one area where Black Americans are hurting the most as the result of institutionalized racism — especially with student loans. Black students are not only more likely to need to take on debt for school , graduates are also nearly five times as likely to default on their loans than their white peers. Here are nine mind-blowing statistics about the student-debt crisis' impact on black borrowers as compared to white students.
Studies that consider the effects of student debt on college students have concluded that that those who take out loans and gain debt are affected negatively by the need to pay those debts and having to add […]. The price of attending college has risen dramatically over the past few decades, so much that it causes many second thoughts and doubts from young adults who preferred to attend. These doubts are mostly centered around the amount of student debt loan they might be burdened with. Americans now have 1. There are so many reasons why college should be free for everyone. First there would be fewer people that would need to have government assistance. Also with free college education there would be smarter people making better decisions that could help solve our most difficult challenges.
9 startling facts that show just how hard the student-debt crisis is hurting Black Americans
Read essays samples written by our professional writers and feel free to use them as a source of inspiration and ideas for your own academic work. The growing student debt crisis in the United States is created by banks that are targeting students with predatory loan offers, along with a rise in tuition costs associated with the corporatization of higher education and less jobs available for students upon graduation. Students are more likely to be given loans, which are used to pay for increasingly expensive tuition, and once they graduate they are often unable to find jobs in the fields for which they have studied. In order to make themselves more competitive on the job market, they will often seek more advanced degrees which require additional loans. As such, this growing economic crisis can expect to continue unless fundamental changes are made to the structure and financing of higher education institutions.
In , President Abraham Lincoln signed the Land Grant College Act into law, laying the groundwork for the largest system of publicly funded universities in the world. Some of America's greatest colleges, including the University of Minnesota, were created by federal land grants, and were known as "democracy's colleges" or "people's colleges. But that vision of a "people's college" seems awfully remote to a growing number of American students crushed under soaring tuitions and mounting debt. One hundred and fifty years after Lincoln made his pledge, it's time to make public colleges and universities free for every American. This idea is easier than it looks.