Project Description
Student Debt Relief Fund
This program is self-explanatory. A mortal enemy of economic progress in the black community is student loan debt and this program seeks to provide an economic stimulus by paying down or paying off student loan debt for African-American borrowers. Accomplishing the ultimate goal of this program offers relief to borrowers by adding $200-$2000 to their monthly budget, a more attractive debt to income ration, and an economic boast to their immediate community.
African-American students who borrowed to earn their bachelor’s degrees are four times more likely to default on their student loans than white peers.
Program Stats:
Cause Addressed: Education, Family
Approach: Action
Activity Status: Launching January 2019
Racial discrimination in hiring has not improved over the past quarter century. Perhaps it’s too much to expect student loans and postsecondary education to solve these structural problems, but sending African American students into an inequitable adulthood with large debts from college can put them even further behind than they already start.