What race has the most student loan debt?
Asked by: Dr. Deven Wiegand | Last update: November 26, 2025Score: 4.1/5 (1 votes)
In terms of debts, Black borrowers were more likely to have larger student loan balances than White borrowers, with 64% reporting having student loan balances above $10,000 at the time of the survey as compared with 53% of White borrowers.
Which race/ethnicity has the highest student loan debt?
Black adults are more than twice as likely than white adults to have student loan debt. The following graph includes federal and private student loan debt among all adults. On average, Black adults in the U.S. also hold higher student loan debt balances than borrowers of other races.
What demographic is most affected by student loan debt?
Student loan debt disproportionately impacts Black student borrowers, affecting monthly budgets and financial milestones alike. Though there are racial disparities in student debt burdens, borrowers of color may also be eligible for scholarships or other financial aid that is race-specific.
What ethnic group has the most debt?
Approximately three-quarters of Black- and White-headed families have debt, but the median debt-to-asset ratio is 50% higher among Black than White families (Copeland, 2020), with Black borrowers less likely to fully repay loans (Brevoort et al., 2021).
Which group has the most student debt?
A large cadre of research now shows that student debt disproportionately burdens Black borrowers. Not only are Black students more likely to borrow, and to need to borrow more, but they struggle much more with paying back their loans.
Racial disparities in student loan debt
Who suffers the most from student loan debt?
By the numbers: Borrowers between 35 and 49 years old owe the most in federal student loans, according to Federal Student Aid data. Details: Women typically borrow more for college than men, according to NerdWallet, a personal finance company.
What race receives the most financial aid?
Asian students received a higher average annual amount of grant aid ($13,840) than did students who were of Two or more races ($11,940), White ($11,420), Black ($11,390), Hispanic ($11,090), American Indian/Alaska Native ($10,750), and Pacific Islander ($10,280).
Which race is the richest?
Asian households overall had more wealth than other households two years since the start of the pandemic. In 2021, Asian households had a median net worth of $320,900, compared with $250,400 for White households. The median net worth of Hispanic households ($48,700) and Black households ($27,100) was much less.
What is the racial disparity in student loan debt?
Over half (56 percent) of the students who attend public two- and four-year institutions in California come from families that earn under $40,000 annually. Subsequently, 90 percent of Black and 72 percent of Latino students take out student loans, compared to 66 percent of white borrowers.
Which gender has the most student loan debt?
The American Association of University Women (AAUW) estimates that women hold nearly 67% of all U.S. student loan debt, or approximately $929 billion.
Who owes the majority of student debt?
Among student borrowers, women take out an average of $31,276, while men borrow an average of $29,270, according to a 2021 data analysis by the American Association of University Women. Black women owe a disproportionate amount of student debt.
Who has the highest student debt in the world?
The #1 most expensive place to go to college in the world
Student debt is making headlines in the UK as student debt balloons. However, their repayment structure looks quite different from the US's. University graduates begin loan repayment once they earn over the income threshold amount for their repayment plan.
Which race has the highest education?
In 2022, the percentage of 25- to 29-year-olds who had completed at least high school was higher for those who were Asian (99 percent) than for those who were White (97 percent), Black (95 percent), American Indian/Alaska Native (92 percent), and Hispanic (88 percent).
Which generation has the most student debt?
In 2024, the generation Z in the United States had an average of roughly 22,950 U.S. dollars in student loan debt. By contrast, Generation X had the highest student loan debt, amounting to approximately 44,240 U.S. dollars.
What race benefits from student loan forgiveness?
It's estimated Black and Hispanic women are expected to experience some of the largest reductions in the percentage with any student loans from the $10,000 relief plan: 5.4 and 4.7 percentage points, respectively. White men are expected to experience among the smallest reductions (2.4 percentage points).
Which racial group has the highest percentage of graduates with student loan debt over $60,000?
Black women are the most likely to graduate with student debt (95.9 percent), followed closely by Black men (94.6 percent), and Black women graduate with the highest average debt among student loan borrowers ($78,500).
What is the racial wealth gap?
...in 2022, for every $100 in wealth held by white households, Black households held only $15. Wealth measures the total value of assets a family owns (such as housing and business equity) minus their debts (such as student loans and credit card bills). During the COVID-19 pandemic, wealth increased unevenly.
Is student loan forgiveness bad for the economy?
Student loan debt slows new business growth and limits consumer spending. Broad student loan debt forgiveness may help boost the national economy by making it more affordable for borrowers to participate in it.
Are Indians the richest in America?
Indian Americans have the highest median household income and the second highest per capita income (after Taiwanese Americans) among other Asian ethnic groups working in the United States.
What is the poorest race in America?
In 2022, Native American and Black people had the highest share of people living below 100 percent of the poverty level. Across the listed poverty levels in 2022, the Native American female population had the highest share of those below the poverty level in the US, while the white male population had the lowest share.
Which religion has the wealthiest people?
Keister and published in the Social Forces journal, found that adherents of Judaism and Episcopalianism accumulated the most wealth, believers in Catholicism and mainline Protestants were in the middle, while conservative Protestants accumulated the least; in general, people who attend religious services accumulated ...
What race is the most generous?
GIVING AS A PERCENTAGE OF INCOME (2018)
Black Americans donated a higher percentage of their income to religious congregations and secular causes in 2018 than all other racial groups, except for White Americans.
Which race gets the most scholarships?
- Caucasian students get more than 75% of all institutional merit-based scholarship and grant funding, despite the fact that they represent less than 3/4 of the student population.
- Caucasian students are 40% more likely to win private scholarships than minorities.
What race earns the most money?
The table below shows a worker's median income grouped by race and ethnicity. In 2023, individuals who identified as Asian or white had median incomes higher than the national median, while individuals who identified as Black or Hispanic had median incomes that were lower than the national median.