Many have cheered the White House proposal to provide student loan debt relief to millions of Americans as a significant step toward addressing the nation’s racial wealth gap and other inequities facing borrowers of color. kprc2 click2houston pellgrant
, Black students are four times as likely as white students to struggle in repayment of private loans.
Following the passage of stiffer state and federal penalties for crack cocaine and other drugs, the incarceration rates for Black and Hispanic Americans tripled between 1970 and 2000. By comparison, the white incarceration rate only doubled in that same timespan. In just the five years after the expanded ban took effect, the measure cost more than 140,000 would-be college students between $41 million and $54 million in Pell Grants per year, and between $100 million and $164 million in federal student loans per year, according to an estimate by the federal Government Accountability Office.
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