When it comes to paying off that debt, Black and Latino graduates are struggling. Nearly half of Black students owe an average of 12.5% more than they borrowed, according to the Education Data Initiative.
Cody Hounanian
The student loan debt crisis is now up to $1.7 trillion. Many federal loan borrowers were temporarily relieved of repayments during the pandemic, but they’re set to resume Feb. 1. And there’s no movement on canceling student debt.
Americans owe more than $1.7 trillion in student loan debt. Now, President Joe Biden is facing new calls to cancel $50,000 or more of loan debt per student. But critics say it would put an undue burden on Americans who never went to college.
