That’s the kind of truth-based headline that will get your site branded as racist. Meanwhile, I’m only aggregating a post by the left-wing Buzzfeed, which is a story about the findings of the left-wing Center For American Progress.
Black students who started college in 2003 had a 50-50 chance of defaulting on their federal student loans, according to a new analysis of government data — a virtual coin-flip of default that stands in stark contrast with a 21% default rate for white borrowers.
A staggering 75% of black students who attended for-profit colleges had defaulted on their student loans by 2015, according to the analysis by the left-leaning Center for American Progress. The analysis is based on first-of-its-kind data from the government, released earlier this month, that breaks down long-term student loan defaults and repayment by race.
“I don’t think there’s an overall student loan crisis,” said Ben Miller, the director of postsecondary education at the Center for American Progress. “But when you look at this data, that’s a crisis for African-American borrowers.”
Twelve years after entering college, the analysis found, the median black borrower had not paid down a single dollar of their student loan balance. In fact, because of swelling interest, they owed 113% of what they’d originally borrowed — a number that was just 65% among white borrowers.
“The size of the disparities are pretty shocking,” said Matthew Chingos, the director of education policy at the Urban Institute and the coauthor of the 2016 book Game of Loans: The Rhetoric and Reality of Student Debt. “The numbers cry out for an explanation. Clearly something is wrong if the typical black borrower is as likely to default as not, and is still underwater on their loans.”
There is a common narrative that student loan problems are fueled by people who drop out of college and don’t get the benefit of a degree, said Miller. That’s true for white borrowers. But black borrowers with bachelor’s degrees still struggled to even begin to pay down their student loans.
After 12 years, black borrowers with bachelor’s degrees owed 114% of their loan balance, while white borrowers owed less than half — 47% — and Latino borrowers owed 79% of their original loan total.
Moreover, a quarter of black borrowers who started college at a four-year public institution in the 2003–2004 school year had defaulted by 2015.
The Education Department did not respond to a request for comment on the data.
The article doesn’t end without the leftist spin that mitigates the responsibilities of the borrowers and puts the blame on something/anything else.
At the root of the deep inequalities between black and white student borrowers are systemic issues like employment discrimination and a lack of any family wealth, the report said. Middle-income white families have nearly eight times as much wealth as black families, meaning that black students must borrow more money, and often have much less of a safety net in case of emergencies, which leads to default.
Black borrowers may also be more likely to attend colleges that have fewer resources and less name recognition, making it more difficult for graduates to benefit from their degrees.
Anyone see a pattern here?
You mean you can’t make $100k with a black studies degree?
@deplorable dude, that was my thought, too. I wonder if we could find out the “degrees” that the students received who then defaulted on their loans.
I suspect the numbers are similar with any kind of loan. Auto, mortgage, credit cards.
I want the money. Pay it back? Whatchutalkinbout Willis?
And that’s why the Old Racist White Woman because like BFH I will point out the “black” problem with society.
Just the other day someone took “offense” with me saying blacks hate white people and white people will always be their excuse for why they don’t work, deal drugs, riot, rob, rape and murder. She said her best friends were black and they worked and didn’t commit crimes. Yep, even I, an Old Racist white woman has black friends who are decent people, yet with my racist ways I know they are in the minority not the majority. I also visit with them in my environment if they lived in the “hood” my white ass wouldn’t be going there to socialize with them. Funny though, they can live in my community and have no fear of being shot, stabbed or robbed.
I’m not a business owner. If I were, I think I’d be a little hesitant to hire someone that had just gone through 4 years of indoctrination teaching them how I’m an evil scumbag that hates them.
I’d like to know of all black students how many borrowed vs. got a full ride just for being black.
Could it be that your white butt is taking all the good jobs? Give your job to some poor deserving underserved person of the correct color preferably one smart enough to dropout after learning all they needed to know.
I keep hearing radio ads about what a crisis black students are having completing school. These are run continuously by the United Negro College Fund.
I suspect people are sitting on their wallets. Seems like a bad investment to me. Success rate is very poor.
The rapidly growing issues in the black community: High crime rate, high rate of single parents, high student loan default rate, high dropout rate, high prison population, etc. These issues have their roots in the politics and policies starting from late 60s and 70s.
Yet they condemn an entire race (whites), country (US) and philosophy (the Constitution) as the cause, when it can actually be traced back to the Democrats and progressives.
“But when you look at this data, that’s a crisis for African-American borrowers.”
No, I’d say it is more of a problem for the lender.
Did Barak Husain Obama pay back his student loans? Or did George Soros take care of him?
I seem to recall that the Obama’s couldn’t be bothered to pay back their student loans until Ole’ Barak decided to run for President. In spite of the fact the he was a Senator and she had a comfy make-work job as some university. Strange thing that…
“But black borrowers with bachelor’s degrees still struggled to even begin to pay down their student loans.”
Maybe, just maybe, it’s “a sign*” these blacks shouldn’t have been accepted into those universities in the first place…hmm?
* sign…as in…a highway billboard-sized red flag
“Matthew Chingos”?
Para continuar en Inglese, (quando oprima número dos) ‘Chingas’ translates to “fuck,” am I right?
There is not much of a crime problem here either, once you remove blacks from the statistic. There isn’t much of a housing/poverty problem either, once you remove blacks from the statistics.
As the world gets more difficult, life gets more inscrutable for the low IQ and behaviorally undisciplined crowds, and, sadly, blacks are overrepresented in both areas.
Entitlement
Newsone-
‘Check this out, all right? I’m the president of the United States. We only finished paying off our student loans about eight years ago,’ he said while addressing college students at the University of North Carolina at Chapel Hill on Tuesday.
‘That wasn’t that long ago.’
It really wasn’t. That would mean that the couple paid off their loans in the same year that he ran for and won the Senatorial race in 2004. By that point, he had been working as a state senator for seven years and Mrs. Obama was working as an executive at the University of Chicago hospitals.
For the 2004 fiscal year, the couple reported $204,647 in taxable income, which came from his state senate salary, her corporate salary, the royalties of his first book, “Dreams from My Father,” and their earnings from respective boards.
By the same calculation, Mr. and Mrs. Obama were 42 and 40 years old, respectively, when their loans were fully paid off.
In total, it took the couple roughly a decade to pay for those Ivy-League degrees.
@ Yankee, Haha! Noticed that too. Chingo = Naked. In Mexico, it’s also a vulgar way to say “Let’s ….!”
I was always a poor math student. It just didn’t appeal to me.
When I was getting my first bachelors degree, (1 of 2), I took the prerequisite math classes required by the college. I’m telling you, I was not a math major at all. I was the only white guy in the class full of black jocks. They all wanted to sit next to me to copy my tests. I never made any promises that I was any good at it.
Czar, the key phrase in that equation is “for profit.” If the gubmint is handing out cash, someone somewhere is vying to grab it.
Just a new wrinkle in “reparations” cuz penalties iz raysis…
Dem facts is misinterpolation!
A 21% default rate isn’t a big problem?
TO flip
The problem could be that, when the White term “student loan” is translated into Ebonics, it means “mo’ free welfare sh!t.”
Considering that a lot of the “mortgage meltdown” was minorities that failed to service their loans and had their homes foreclosed on, it’s not really much of a surprise.
I’d like to see a breakdown in the degrees that blacks attained while at college borrowing money. In today’s marketlace I suspect there is no such thing as discrimination anymore (or so little as to have no effect on these numbers) and whether black students had matriculated, found jobs and just didn’t pay their loans. The lack of family wealth is certainly something to consider.
Not only will this headline get your site branded “racist”, just try citing statistics like this in almost any forum other than those we know to be conservative. The Guardian in the UK is notorious about banning posters who cite government generated stats which paint minorities in a bad light. Even our local newspaper forums will ban you or won’t publish comments with such stats. Liberal media REALLY can’t handle the truth.
Students coming out of inferior democrat district schools were / are woefully unprepared for Higher Ed.
Most can’t get accepted into legit schools (and those that do get in often don’t make it to their Sophomore year) so would go to the “for profits.” They’d take anyone and put them into programs no employer would want, while taking that student loan backed higher priced tuition.
Those that finished their degree at the “for profits” couldn’t get work, those that didn’t finish were in the same boat. The students enrolled anyway because it was their only option for getting some kind of credential. They didn’t understand that you can’t default on your student loans.
Obama must have seen it coming and began forcing a lot of the “for profits” to shut down. Remember DeVry? Obama forced them into bankruptcy by cutting them off from federal financial aid.
Beg for loans.
(wait 10 years)
Beg for loan forgiveness
There’s Not a ___________ Problem Once Blacks are Removed From Statistics.
Fill in the blank, and chances are you’ll be correct.
This is typical of media bias. It can’t be possible that blacks are less honorable over all and thus do not pay back the loans because they don’t want to rather than can’t. It must then be that they are discriminated against by those evil white men. Yes, that has to be it. Let’s go with that.
Forgetting things is bad…….like forgetting to repay your student loan….and forgetting to support your children………..and forgetting you ain’t white,,,,,,,dummy
So Blacks take out loans that will financially ruin them for life – so white liberal professors can make $100K-$300K a year to “teach” them worthless crap and give them false hope.
Tell me modern day democratic slavery is not alive and well.