June 30, 2020
New Institute Report Addresses Disproportionate Burden of Student Loan Debt on Black and Other Borrowers of Color – a Problem Exacerbated by the Current Public Health Crisis
NEWARK – The New Jersey Institute for Social Justice today released Freed From Debt: A Racial Justice Approach to Student Loan Reform in New Jersey, a new report highlighting the enormous burden of student debt in the Garden State, particularly on Black and other borrowers of color. The report proposes four bold reforms that would chart a path forward for New Jersey students with a particular eye toward supporting Black and other students of color.
“Even before the COVID-19 pandemic and its economic fallout, Black students were more likely to take on student loans, borrow in larger amounts, and default on their loans than their white peers,” said Andrea McChristian, Law & Policy Director at the Institute. “While student loans once served as a resource to help students achieve economic mobility, they have, even more in this moment, become an immense financial weight that entraps Black students and other students of color in a cycle of insurmountable debt.”