If Congress does not act by July 1, federal student loan rates are set to double, meaning that the average student with federal loans will have to pay additional interest rate costs. We know that African-American and Latino students have heavier educational loan debt than their white counterparts. According to the Center for American Progress, the black student loan debt ratio is 81 percent, for Latinos it is 67 percent and White students are at 64 percent. Higher student loan rates would create an undue burden on students and families of color in particular says the Congressional Black Caucus Foundation.
Posted on: Thu, 20 Jun 2013 15:20:13 +0000
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