Four years after college graduation, black students find themselves staring down nearly double the debt burden of white students due to differences in wages, interest accrual, and graduate school borrowing, a new research study shows.
At the time of graduation, black students owe $7,400 more on average than their white counterparts. But that gap quickly balloons to almost $25,000.
Those differences are perpetuating the wealth gap between black and whites, the study suggests. According to the Pew Research Center, the wealth gap between whites and blacks has grown from 10x household net worth to 13x since the Great Recession.