Quicksand: Borrowers of Color & the Student Debt Crisis
National Association for the Advancement of Colored People (NAACP)
Center for Responsible Lending (CRL)
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Student debt is a significant drag on the entire economy as it depresses the purchasing power of millions, preventing people from starting families, investing in their own businesses, going back to school, and buying homes. And because students of color carry larger debt burdens, these consequences also exacerbate the racial wealth divide by impacting families of color the most acutely. Without action, this problem will only worsen. In order to ensure that our higher education system provides meaningful opportunities for students to build a financial future and participate in our economy, fundamental reforms are necessary. This report provides the historical context for the student debt crisis as both a civil rights and an economic justice issue, and provides policy solutions for borrowers in repayment, current students, and future students.