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Article: News and Views: Black College Students Increasingly Taking on Debt
- Article from:
- The Journal of Blacks in Higher Education
- Article date:
- September 30, 1996
CopyrightCopyright CH II Publishers, Inc. Sep 30, 1996. Provided by ProQuest LLC. (Hide copyright information)
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News and Views: Black College Students Increasingly Taking on Debt.
Drawing on the traditional buy-now-pay-later formula, Congress now allows young Americans to pile up huge debt in order to pay for the rising costs of a college education. Black students, on average, have lower debt levels than do white students. But they are catching up fast.
In 1992 Congress enacted Higher Education Act amendments which made it far easier for parents and college students to borrow money to finance higher education. Eligibility criteria are extremely lenient even for families that apparently have little means of repaying loans. Students may borrow up to $46,000 for an undergraduate degree and up to ...