Data Shows Black Federal Loan Borrowers Owe 105 Percent of the Initial Loan 4 Years After Graduation

By Jasmine Browley· Updated October 14, 2022

Student loan debt is a deep concern for most of the country. For Black borrowers though, it’s downright crippling.

New findings from a sweeping study found that among 2015–16 college graduates with bachelor’s degrees with federal student loans, Black gradsowed an average of 105 percent of the original amount borrowed 4 years after graduation compared to 73 percent for White borrowers.

This comes from one of two reports released on September 26, 2022 by the National Center for Education Statistics (NCES) within the U.S. Department of Education’s Institute of Education Sciences (IES).

“Data from the 2016/20 Baccalaureate and Beyond Longitudinal Study (B&B:16/20) show the array of issues that are impacting college graduates, both positively and negatively, early in their career >news release. “As our country responds to the challenges of the COVID-19 pandemic, the data presented in these reports provide important information for uncovering and understanding the experiences of recent college graduates in an unprecedented time. Overall, the Baccalaureate and Beyond Longitudinal Study can be used to understand and chart pathways toward better opportunities for lifelong success.”

Right now, the national average of total student loan debt (including federal and private loans) sits at $1.75 trillion. The average borrower took out $28,950.

More on the reports can be found here.

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