September 26, 2019 | :
WASHINGTON- There is a debt crisis among African-American students on college and university campuses.
According to the college access nonprofit organization The Education Trust, Black borrowers have a 50-50 chance of defaulting on a federal loan within 12 years of entering college. Black borrowers are also over 150 percent more likely to default on a federal loan than their White peers.
Additionally, Black students who have completed a bachelor’s degree are 21 percent more likely to default on federal loans compared to 18 percent of White college dropouts.
Not only are Black students facing higher rates of debt, they are less likely to finish their college degrees.
“A college degree remains the surest path to the middle class and