Report: Blacks Have Heaviest College Debt

Report: Blacks Have Heaviest College Debt: A College Board study released today has found that undergraduate student debt is heavier among African-American bachelor’s degree recipients than among graduates from other racial and ethnic groups. Twenty-seven percent of 2007-08 Black bachelor’s degree recipients borrowed $30,500 or more, compared to 16 percent of Whites, 14 percent of Hispanics/Latinos, and 9 percent of Asians. Along with the finding, reported in Who Borrows Most? Bachelor’s Degree Recipients with High Levels of Student Debt, researchers also found that a growing number of students are borrowing at high levels and taking out loans that are likely to cause substantial payment difficulties.