Student Loans and the Racial Wealth Gap
economic barriers, financial education, racial wealth gap, student loan debt, law school diversity
Higher education has long been seen as a ticket to upward mobility in the United States, and in large measure it still is, with college graduates earning nearly 75% more on average than their peers with just a high school diploma. Unfortunately, that ticket has become increasingly expensive. Today, 69% of college graduates leave school with student loan debt. The debt burden can weigh most heavily on members of minority groups, who often have far fewer financial resources to draw on, a disparity known as the racial wealth gap.