The Effects Of Biden's Student Loan Forgiveness On Non-White Borrowers
1A - A podcast by NPR
The Department of Education estimates that 45 million Americans have borrowed $1.6 trillion dollars in debt.Tens of millions of those borrowers are getting a break. President Joe Biden announced a plan last week to forgive some student loans.The plan will do more for some than it will for others. A breakdown of who holds the most student debt shows a clear disparity in how much of the financial burden has fallen on women and people of color. As higher education has become essential for upward social mobility, student loan debt has slowed that trajectory for many people of color.We discuss which parts of Biden's plan will benefit those who have taken on the most financial burden. We also discuss how less student debt can increase economic opportunities for people of color. Want to support 1A? Give to your local public radio station and subscribe to this podcast. Have questions? Find us on Twitter @1A.
