Black College Graduates Holding More Student Loan Debt Compared to Their White Peers

Black College Graduates Holding More Student Loan Debt Compared to Their White Peers

There’s more involved than you might expect when it comes to predicting who has the most student loan debt. New research shows that Black students, even in middle-income families, are taking on more debt to earn a degree in comparison to their white peers. Combined with the race gap in graduationand earnings, where even when students earn the same degree from the same school, black Americans are getting paid less yet on the hook for more student loan debt. The journal Children and Youth Services Review recently published a study led by Michal Grinstein-Weiss of the Center for Social Development at Washington University in St. Louis. In it, researchers report “Low-to-moderate income (LMI) black students and graduates accrue on average $7,721 more student debt than their white counterparts.” This was the result even when accounting for other factors like socioeconomic status in families of origin. That additional debt has long-term consequences for growing wealth over the long term, as other research has found that middle-class white households have ten times higher wealth than their black peers. Even levels of employment are unbalanced between white and black graduates, with significantly higher unemployment among black college graduates… Continue Reading at GoodCall… By: Eliana...

Veterans Groups, Student Advocates Stand Up Against Partnership between The Ellen DeGeneres Show and The University of Phoenix

             FOR IMMEDIATE RELEASE May 6, 2016 CONTACT: Natalia Abrams natalia@studentdebtcrisis.org 310-365-1069 RELEASE: Veterans Groups, Student Advocates Stand Up Against Partnership between The Ellen DeGeneres Show and The University of Phoenix Higher Ed, Not Debt Partners Launch Petition Asking Host Ellen DeGeneres to Drop Partnership with For-Profit College Under Investigation by the Federal Trade Commission Washington, D.C.— Veterans groups and student advocacy organizations are speaking out after The Ellen DeGeneres Show awarded a stay-at-home mom a $25,000 scholarship to the University of Phoenix, a heavily-scrutinized for-profit college currently under investigation by the Federal Trade Commission and the California Attorney General. The veterans and student advocacy organizations, part of the Higher Ed, Not Debt coalition, are voicing their opposition to the promotional partnership, which will also provide ten additional scholarships of $25,000 each to participating entrants. The partnership is widely perceived as an egregious departure from the progressive positions DeGeneres typically champions, and another example of the University of Phoenix preying on vulnerable Americans with predatory and misleading marketing tactics. Promotional posts of the partnership on DeGeneres’ social media accounts have been removed in the wake of the public outcry, but neither DeGeneres nor representatives of her show have issued a public comment addressing the partnership, or confirmed whether or not DeGeneres was paid to air the segment. Veterans groups, many of which have called out University of Phoenix for abusing billions of GI Bill dollars to aggressively recruit returning veterans, were equally outraged that DeGeneres would lend support to a school that the federal government placed on probation for unlawful recruiting practices targeting veterans....

Student Debt Crisis takes the White House Student Debt Challenge

Student Debt Crisis plans to conduct a series of webinars to reach more than 800,000 people within their membership network.   From WhiteHouse.gov Taking Action to Help More Americans Manage Student Debt Higher education is one of the most important investment individuals can make for themselves and for our country. Today, 11 of the 15 fastest-growing occupations require a postsecondary education. Many students access student loans to help finance their education; typically, that investment pays off, with bachelor’s degree recipients earning $1 million more in their lifetime and associate’s degree recipients earning $360,000 more, compared to their high school counterparts. But for some, burdensome student loan debt can present a challenge as they seek to start a career, raise a family, purchase a home, start a business, or save for retirement. “I’m only here because this country gave me a chance through education.  We are here today because we believe that in America, no hardworking young person should be priced out of a higher education.  This country has always made a commitment to put a good education within the reach of young people willing to work for it.” – President Barack Obama, Remarks on College Affordability, June 9, 2014 Read the entire Press Release here Over 40 new student debt challenge takers. Earlier this month, the White House issued a call to action for colleges, universities, non-profits, businesses, state and local governments, and other employers to help more borrowers better understand their options, and to take action to enroll those borrowers in PAYE and related plans so they can manage their monthly payments and avoid delinquency and default. Today,...

What is #1TDay? America’s Student Debt Crisis

Federal student loan repayment options are always free and you should NEVER pay for help.  Today, “1-TDay” marks the fourth anniversary since student loan debt hit one trillion dollars. Since then, we have added nearly four-hundred billion dollars to the overall total and there’s no end in sight. If student debt is stressing you out – you are not alone. Veterans, students, parents and even retirees are feeling the pressure of their student loans and nearly half are struggling to make monthly payments. This is why Student Debt Crisis is co-hosting two events this week aimed at helping borrowers better understand federal student loan repayment options. While we fight for better reforms and combat the fraud and abuse from student loan servicers, we want to make sure you have all of the tools necessary to repay your student loan debt.  Friday (4/29) 12:30 pm ET: “Student Loan Debt 101 – Repayment Plans for Beginners” hosted by Student Debt Crisis, Higher Ed, Not Debt and Generation Progress It is important for us to understand what life is like for student loan borrowers. Sure, some of us have it easy and our monthly payments are minimal, however, 8 million people are in default which means their lives have been turned upside down due to their student loans.                ...

AFL-CIO and Student Debt Crisis to Hold Second Annual Student Debt Hotline

Media Advisory for April 25, 2016                                                      Contact: Natalia Abrams,  (310)-365-1069 AFL-CIO and Student Debt Crisis to Hold Second Annual Student Debt Hotline On Monday, April 25th, Student Debt Crisis will host a Twitter Town Hall to mark the fourth anniversary since student loan debt hit $1 trillion in 2012. The average college graduate has $35,000 in student loan debt, and as that cost continuous to increase, the AFL-CIO is standing with Student Debt Crisis and other allied organizations to ensure borrowers are informed about their debt-relief options. Following the town hall, the AFL-CIO and Student Debt Crisis will host the second annual student debt hotline from May 24th – 26th to offer debt relief solutions to borrowers. WHAT: Student Debt Crisis Twitter Town Hall WHEN: April 25th at 11:30am EST WHO: Student Debt Crisis – @DebtCrisisOrg AFL-CIO – @AFLCIO Higher Ed, Not Debt – @HigherEdNotDebt Generation Progress – @GenProgress One Wisconsin Now – @StudentLoanVote NerdWallet – @NerdWallet Student Loan Attorney’s Jay Fleischman – @JayFleischman Joshua Cohen – @StudentLoanLaw   *To join the Twitter chat, ask questions using #StudentDebtHotline from 11:30am-12:30pm EST on April...

Join Our Student Loan Debt 101 Webinar – “Repayment Plans for Beginners”

Next Friday, April 29th at 12:30pm ET, Student Debt Crisis, Higher Ed, Not Debt and Generation Progress will be hosting a nationwide webinar – “Student Loan Debt 101 – Repayment Plans for Beginners”. This will be an opportunity for student loan borrowers, like you, to learn about the topics that matter most: What should borrowers do if they are having trouble making payments? Which federal student loan repayment plan is best? What options are available for federal student loan borrowers who are in default? What is Public Service Loan Forgiveness?      Our experts will answer all of these questions and more, plus there will be ample Q&A time for your individual questions. You are our top priority and you should never pay for student loan...