View in EDS

Racial Disparities in Student Loan Affordability

Saved in:
Bibliographic Details
Title: Racial Disparities in Student Loan Affordability
Language: English
Authors: Umair Tarbhai, Ethan Pollack, JFF (Jobs for the Future)
Source: Jobs for the Future. 2024.
Availability: Jobs for the Future. 88 Broad Street 8th Floor, Boston, MA 02110. Tel: 617-728-4446; Fax: 617-728-4857; e-mail: info@jff.org; Web site: http://www.jff.org
Peer Reviewed: N
Page Count: 23
Publication Date: 2024
Document Type: Reports - Research
Descriptors: Student Loan Programs, Loan Repayment, Race, Debt (Financial), Income, Disproportionate Representation, Federal Aid, African Americans, Whites, Hispanic Americans
Abstract: Student debt has exploded over the past several decades, rising to over $1.7 trillion. Federal student loans represent over 90% of student loan balances, with private financing making up the remainder. Research has shown that the negative impact of student debt has not been distributed equally across different demographics, with Black borrowers disproportionately feeling the adverse effects of student debt. Yet to date, little research has explored how monthly repayment burdens-- defined as the borrower's monthly payment as a share of their earnings--vary across different demographic groups or how that may relate to the specific fixed-payment structure of student loans. This study uses the 2019 Survey of Consumer Finances (SCF), a comprehensive national survey of U.S. families' financial lives, to identify differences in monthly repayment burdens across racial groups. The study found that, on average, Black borrowers pay a greater percentage of their monthly income toward student loans than white borrowers.
Abstractor: ERIC
Entry Date: 2024
Accession Number: ED660483
Database: ERIC
FullText Text:
  Availability: 0
CustomLinks:
  – Url: https://eric.ed.gov/contentdelivery/servlet/ERICServlet?accno=ED660483
    Name: ERIC Full Text
    Category: fullText
    Text: Full Text from ERIC
Header DbId: eric
DbLabel: ERIC
An: ED660483
AccessLevel: 3
PubType: Report
PubTypeId: report
PreciseRelevancyScore: 0
IllustrationInfo
Items – Name: Title
  Label: Title
  Group: Ti
  Data: Racial Disparities in Student Loan Affordability
– Name: Language
  Label: Language
  Group: Lang
  Data: English
– Name: Author
  Label: Authors
  Group: Au
  Data: <searchLink fieldCode="AR" term="%22Umair+Tarbhai%22">Umair Tarbhai</searchLink><br /><searchLink fieldCode="AR" term="%22Ethan+Pollack%22">Ethan Pollack</searchLink><br /><searchLink fieldCode="AR" term="%22JFF+%28Jobs+for+the+Future%29%22">JFF (Jobs for the Future)</searchLink>
– Name: TitleSource
  Label: Source
  Group: Src
  Data: <searchLink fieldCode="SO" term="%22Jobs+for+the+Future%22"><i>Jobs for the Future</i></searchLink>. 2024.
– Name: Avail
  Label: Availability
  Group: Avail
  Data: Jobs for the Future. 88 Broad Street 8th Floor, Boston, MA 02110. Tel: 617-728-4446; Fax: 617-728-4857; e-mail: info@jff.org; Web site: http://www.jff.org
– Name: PeerReviewed
  Label: Peer Reviewed
  Group: SrcInfo
  Data: N
– Name: Pages
  Label: Page Count
  Group: Src
  Data: 23
– Name: DatePubCY
  Label: Publication Date
  Group: Date
  Data: 2024
– Name: TypeDocument
  Label: Document Type
  Group: TypDoc
  Data: Reports - Research
– Name: Subject
  Label: Descriptors
  Group: Su
  Data: <searchLink fieldCode="DE" term="%22Student+Loan+Programs%22">Student Loan Programs</searchLink><br /><searchLink fieldCode="DE" term="%22Loan+Repayment%22">Loan Repayment</searchLink><br /><searchLink fieldCode="DE" term="%22Race%22">Race</searchLink><br /><searchLink fieldCode="DE" term="%22Debt+%28Financial%29%22">Debt (Financial)</searchLink><br /><searchLink fieldCode="DE" term="%22Income%22">Income</searchLink><br /><searchLink fieldCode="DE" term="%22Disproportionate+Representation%22">Disproportionate Representation</searchLink><br /><searchLink fieldCode="DE" term="%22Federal+Aid%22">Federal Aid</searchLink><br /><searchLink fieldCode="DE" term="%22African+Americans%22">African Americans</searchLink><br /><searchLink fieldCode="DE" term="%22Whites%22">Whites</searchLink><br /><searchLink fieldCode="DE" term="%22Hispanic+Americans%22">Hispanic Americans</searchLink>
– Name: Abstract
  Label: Abstract
  Group: Ab
  Data: Student debt has exploded over the past several decades, rising to over $1.7 trillion. Federal student loans represent over 90% of student loan balances, with private financing making up the remainder. Research has shown that the negative impact of student debt has not been distributed equally across different demographics, with Black borrowers disproportionately feeling the adverse effects of student debt. Yet to date, little research has explored how monthly repayment burdens-- defined as the borrower's monthly payment as a share of their earnings--vary across different demographic groups or how that may relate to the specific fixed-payment structure of student loans. This study uses the 2019 Survey of Consumer Finances (SCF), a comprehensive national survey of U.S. families' financial lives, to identify differences in monthly repayment burdens across racial groups. The study found that, on average, Black borrowers pay a greater percentage of their monthly income toward student loans than white borrowers.
– Name: AbstractInfo
  Label: Abstractor
  Group: Ab
  Data: ERIC
– Name: DateEntry
  Label: Entry Date
  Group: Date
  Data: 2024
– Name: AN
  Label: Accession Number
  Group: ID
  Data: ED660483
PLink https://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=eric&AN=ED660483
RecordInfo BibRecord:
  BibEntity:
    Languages:
      – Text: English
    PhysicalDescription:
      Pagination:
        PageCount: 23
    Subjects:
      – SubjectFull: Student Loan Programs
        Type: general
      – SubjectFull: Loan Repayment
        Type: general
      – SubjectFull: Race
        Type: general
      – SubjectFull: Debt (Financial)
        Type: general
      – SubjectFull: Income
        Type: general
      – SubjectFull: Disproportionate Representation
        Type: general
      – SubjectFull: Federal Aid
        Type: general
      – SubjectFull: African Americans
        Type: general
      – SubjectFull: Whites
        Type: general
      – SubjectFull: Hispanic Americans
        Type: general
    Titles:
      – TitleFull: Racial Disparities in Student Loan Affordability
        Type: main
  BibRelationships:
    HasContributorRelationships:
      – PersonEntity:
          Name:
            NameFull: JFF (Jobs for the Future)
      – PersonEntity:
          Name:
            NameFull: Umair Tarbhai
      – PersonEntity:
          Name:
            NameFull: Ethan Pollack
    IsPartOfRelationships:
      – BibEntity:
          Dates:
            – D: 01
              M: 03
              Type: published
              Y: 2024
          Titles:
            – TitleFull: Jobs for the Future
              Type: main
ResultId 1