Student debt is also too much when it blocks access to the American dream, the idea that success is possible in the U.S. no matter a person’s background. Students who are the first in their family to attend college and low-income students have a much harder time paying off their student loans, and they end up defaulting more often than other students. Black students, who owe 60% more than their white counterparts, struggle even more to pay back their loans, in part because of persistent racial wealth and income gaps.
The government’s original purpose in lending to students was to help people of modest means get a college education. But today, it is precisely those borrowers who are most harmed by student debt.
Student loan debt is costing recent grads much more than just money
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The 2020 election still hovers over the Supreme Court
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