Sweeping student loan changes took effect July 1, eliminating key repayment plans and leaving Black borrowers, who carry a disproportionate share of national debt, bracing for higher payments. Contributing writer Clint Combs reports on what advocates say borrowers need to know now.
Black borrowers
Posted inEducation
Black Student Loan Default Rate Five Times Higher Than White BorrowersÂ
A coalition of civil rights and consumer advocates is urging the federal Education Department to halt plans to garnish wages of nearly 9 million student loan borrowers in default, warning the policy will disproportionately harm Black and older borrowers.