{"id":72537,"date":"2024-04-19T00:12:24","date_gmt":"2024-04-19T04:12:24","guid":{"rendered":"https:\/\/world.edu\/?p=72537"},"modified":"2024-04-19T00:12:24","modified_gmt":"2024-04-19T04:12:24","slug":"graduation-rates-for-low-income-students-lag-while-their-student-loan-debt-soars","status":"publish","type":"post","link":"https:\/\/world.edu\/graduation-rates-for-low-income-students-lag-while-their-student-loan-debt-soars\/","title":{"rendered":"Graduation rates for low-income students lag while their student loan debt soars"},"content":{"rendered":"

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A\u00a0recent federal study<\/a>\u00a0on graduation rates for American colleges and universities shows that 40% of all students did not earn a degree or credential within eight years of leaving high school. The graduation rate is even lower for low-income students.<\/p>\n

Among students from families with income levels of US$115,000 or more, 66% who enrolled in higher education earned a bachelor\u2019s degree or higher from 2009 through 2021. However, among students from families who made less than $35,000, 26% earned a bachelor\u2019s degree or higher during the same period. For people whose families had earnings between $35,000 and $55,000, 36% earned these degrees.<\/p>\n

Many start but don\u2019t finish<\/strong><\/h4>\n

The problem goes beyond the fact that students from lower-income households are entering higher education at a lower rate than high-income students. Rather, the issue is also that fewer low-income students are graduating.<\/p>\n

The data also reveals disparities in the graduation rates of different racial and ethnic groups. While 50% of white students earned a bachelor\u2019s degree or higher during this period,\u00a0only about 29% of Black students did, and 30.4% of Hispanic students earned these degrees<\/a>.<\/p>\n

Also, 73% of students who went to a private high school earned a bachelor\u2019s degree or higher, while 42% of public school students attained these degrees.<\/p>\n

Educational segregation<\/strong><\/h4>\n

As I indicate in my book, \u201cEducating Inequality<\/a>,\u201d there are many causes for these disparities. One key factor is that low-income students of color tend to go to\u00a0low-funded higher education institutions with low graduation rates<\/a>. Meanwhile, most white and Asian students\u00a0attend highly funded schools with high graduation rates<\/a>.<\/p>\n

Moreover, underrepresented minority students tend to major in high-paying STEM disciplines\u00a0at a much lower rate<\/a>. According to\u00a0federal data<\/a>, 20% of white college students earned a STEM degree, while 15% of Hispanic students and 10% of Black students earned degrees in these majors.<\/p>\n

Since race is\u00a0highly correlated with income<\/a>\u00a0in the United States, one possible solution is to push universities and colleges with high graduation rates to accept and graduate more low-income students. In our current system of de facto educational segregation, however, economic disparities are growing bigger instead of shrinking.<\/p>\n

Making matters worse is the fact that students of color often leave college with\u00a0high levels of debt<\/a>. In 2019, close to a third of Black adults had student debt, while only 20% of white adults bore this burden. Meanwhile, the average level of outstanding student loans for Black borrowers was $30,000, while it was $23,000 for white borrowers.<\/p>\n

The combination of low graduation rates and high debt can severely reduce the ability to pay off loans. These loans generally\u00a0cannot be discharged through bankruptcy<\/a>.<\/p>\n

Even though President Joe Biden has forgiven some student debt, causing the total owed to decline slightly, there is still\u00a0$1.727 trillion<\/a>\u00a0of outstanding student loans.<\/p>\n

A significant part of student debt is generated by for-profit colleges that have low graduation rates. In\u00a0comparison<\/a>\u00a0with students who go to public four-year colleges and universities, students who attend for-profit colleges take on $3,000 more debt and default on their loans at twice the rate.<\/p>\n

At a time when many public and nonprofit colleges and universities are striving to\u00a0increase diversity on campus<\/a>, their own enrollment and retention practices could be adding to economic and racial inequality.<\/p>\n

Author Bio:<\/strong> Robert Samuels is a Continuing Lecturer in Writing at the University of California, Santa Barbara<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

A\u00a0recent federal study\u00a0on graduation rates for American colleges and universities shows that 40% of all students did not earn a degree or credential within eight years of leaving high school. The graduation rate is even lower for low-income students. 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