Student Loans and the Racial Wealth Gap
We look at how the potential elimination of up to $50,000 in student loan debt could impact borrowers.
Could student loan forgiveness help close the racial wealth gap?
The Federal Reserve's Survey of Consumer Finances reported white families had more than 7 times the wealth than Black families in 2019. Some Democratic lawmakers and progressive groups have been pushing for student loan forgiveness. They're proposing the cancelation of $10,000 or $50,000 in federal student loans. This could provide substantial relief.