Black and Hispanic adults who graduate college owing money on student loans have significantly lower net worth at age 30 than students who don’t borrow to pay for college, a new study suggests.
Black and Hispanic adults in the study who reported having outstanding student loans when they graduated college had $36,000 less in net worth than their peers at age 30, according to lead author Min Zhan, a professor of social work at the University of Illinois. Zhan’s co-author, Xiaoling Xiang, is a professor of social work at the University of Michigan.
Read Next
