Outstanding student debt continues to grow, with some 43 million Americans owing a total $1.4 trillion in federal student loan debt alone.
The decade-long disinvestment in public higher education and the inability of underfunded colleges that serve minorities to deepen access contributes to borrowing disparities, the report notes.
In response, black and Latino students, in particular, have been disproportionate targets of for-profit colleges, many of which haven’t provided students with a return on investment. That’s left them with debt they can’t pay back, offsetting upward mobility gains college attendance brings.
