More than 44 million people in America have taken on student debt to pursue a post-secondary education. These borrowers collectively owe around $1.6 trillion in student loan debt. Borrowers exist in every community, but some are particularly vulnerable to its impact. Women hold two-thirds of all outstanding student debt and Black and Latinx borrowers disproportionately struggle with repayment.
The problems that emerge from carrying student loan debt are systemic and have consequences not only for borrowers and their households, but also their communities, their states, and the nation’s economy. But these problems are solvable.
AFN’s webinar on October 15, 2020 discussed the disparate impact of student loan debt on black and Latinx students. Watch the replay to learn:
- the state of student debt across the country,
- the disparate impact debt has on low-income borrowers and borrowers of color, and
- tangible, targeted philanthropic solutions aimed at alleviating the balances of borrowers with $10,000 in outstanding loans or less