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Why the Student Debt Crisis Hits Black Borrowers Harder

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They borrow at a higher rate than any other group: 87% of black students borrowed federal loans compared with 65% of Latino students and 60% of white students, according to an analysis of government data by the Center for American Progress, a public policy think tank.

And they are more likely to default on their loans than other groups, which can deliver a long-lasting blow to credit scores. Nearly half of all black students who enrolled in 2003-2004 defaulted on at least one loan over the next 12 years, compared with 1 in 5 white students over the same time period, according to an analysis by Robert Kelchen, assistant professor of higher education at Seton Hall University.

Default on federal loans occurs after nine months of missed...

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