Student Loans

Student loans create debt burdens that impact families for generations. Black Americans in general, and Black and Latina women in particular -- often are forced to take on more college debt than their white counterparts in pursuit of the American Dream. The student debt burden is felt most acutely by attendees of Historically Black Colleges and Universities. CRL successfully led a coalition of advocates that achieved substantial student debt cancellation in 2022. We continue to advocate for higher education policies to protect student loan borrowers and their parents from falling into a cycle of debt that keeps them from engaging in wealth-building activities. 

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The State of For-Profit Colleges

The State of For-Profit Colleges

For-profit colleges are big businesses, primarily funded by taxpayers. Many deliver poor instructional quality at high cost, causing a high proportion of students to drop out. Even for those students who do graduate, gainful employment in the field that they trained for is frequently elusive. Both non-completers and graduates bear high burdens of debt relative to their post college earnings...
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Research
Student Loans

Black Student Borrowers: In Their Own Words

Black Student Borrowers: In Their Own Words

The $1.7 trillion student debt crisis impacts over 44 million families nationwide, and the burden of student loans falls particularly heavily on Black students because of historical and ongoing systemic racism. While Black families themselves typically have less wealth to draw upon to pay for college due to the racial wealth gap, Historically Black Colleges and Universities (HBCUs) have also...
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Policy & Legislation
Student Loans

National Survey Finds Strong Support Among Black Borrowers for Cancellation, Increasing Pell Grant Amount, More Funding for HBCUs, and More

National Survey Finds Strong Support Among Black Borrowers for Cancellation, Increasing Pell Grant Amount, More Funding for HBCUs, and More

The $1.7 trillion student debt crisis impacts over 44 million families nationwide, and the burden of student loans falls particularly heavily on Black students because of historical and ongoing systemic racism. While Black families themselves typically have less wealth to draw upon to pay for college due to the racial wealth gap, Historically Black Colleges and Universities (HBCUs) have also...
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Policy & Legislation
Student Loans

National Survey Shows Strong Support for Student Loan Cancellation Among Black Students

National Survey Shows Strong Support for Student Loan Cancellation Among Black Students

The $1.7 trillion student debt crisis impacts over 44 million families nationwide, and the burden of student loans falls particularly heavily on Black students because of historical and ongoing systemic racism. While Black families themselves typically have less wealth to draw upon to pay for college due to the racial wealth gap, Historically Black Colleges and Universities (HBCUs) have also...
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Policy & Legislation
Student Loans

HBCUs Provide Unique and Positive Learning Environment for Black Student Loan Borrowers

HBCUs Provide Unique and Positive Learning Environment for Black Student Loan Borrowers

As Adam Harris writes in his 2021 book, The State Must Provide: Why America’s Colleges Have Always Been Unequal—And How to Set Them Right: “America’s colleges and universities have a dirty open secret: they have never given Black people an equal chance to succeed.” Despite long-standing systemic challenges and the small average size of Historically Black Colleges and Universities (HBCUs)...
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Policy & Legislation
Student Loans

Black America: Examining the HBCU Student Debt Experience

Black America: Examining the HBCU Student Debt Experience

On October 28, 2021, the Center for Responsible Lending and the United Negro College Fund hosted a virtual discussion highlighting how the COVID-19 crisis has affected Black students nationwide due to our nation’s ongoing systemic racism. The talk highlighted new findings that reveal how the experiences of Black student loan borrowers from Historically Black Colleges and Universities (HBCUs) differ from...
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Research
Student Loans

Almost Two in Three Navient Borrowers Making Payments During COVID-19 Federal Student Loan Payment Pause Are Underwater

Almost Two in Three Navient Borrowers Making Payments During COVID-19 Federal Student Loan Payment Pause Are Underwater

Even before COVID-19, student loan borrowers struggled under the weight of more than $1.6 trillion in debt. One in four borrowers was in default or serious delinquency, and many worried about their ability to make student loan payments while covering other basic needs. Because of decades of structural inequities and discrimination, student loans have burdened Black and Latino borrowers more...
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Policy & Legislation
Student Loans

Response to the State Corporation Commission’s Order Requesting Additional Comments on Proposed Regulations to Implement Virginia’s New Student Loan Borrower Bill of Rights

Response to the State Corporation Commission’s Order Requesting Additional Comments on Proposed Regulations to Implement Virginia’s New Student Loan Borrower Bill of Rights

From the introduction of the letter: The undersigned organizations representing Virginia consumers, students, student loan borrowers, and educators submit this comment in response to the State Corporation Commission’s (the “Commission”) July 9, 2021, Order Requesting Additional Comments (the “Order”) on proposed regulations to implement Virginia’s new Student Borrower Bill of Rights. The Commission specifically requested comments further addressing whether the...
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Letters to Congress
Student Loans

Testimony: To Help Communities of Color and Spur Economic Recovery, Student Debt Cancellation Must be a Part of the Solution

Testimony: To Help Communities of Color and Spur Economic Recovery, Student Debt Cancellation Must be a Part of the Solution

From the testimony delivered by Julia Barnard at the Department of Education's June 23rd hearing: Good afternoon. My name is Julia Barnard, researcher and student loan team co-lead at the Center for Responsible Lending (CRL), a national advocacy organization focused on fighting predatory lending. I am here to deliver a statement on behalf of the Center for Responsible Lending. Even...
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Testimony
Student Loans

Poll: Minnesota Student Loan Borrowers During COVID-19 Pandemic

Poll: Minnesota Student Loan Borrowers During COVID-19 Pandemic

Key points from the poll results include: Download a one-page summary of the results. As a result of the COVID 19 crisis, payments have been paused for federal student loan borrowers nationwide until at least September 2021 Almost one in three 28 Minnesota borrowers are not confident that they will be able to resume payments on their student loans when...
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Research
Student Loans
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