Twelve years after entering college, white men have paid off 44% of their student-loan balance on average, according to an analysis released Thursday by Demos, a left-leaning think tank. For white women, that share drops to 28%. For black borrowers, the picture is even bleaker. Black women see their loan balances actually grow 13% on average, 12 years after leaving school, while black men see their balances grow 11%.

(http://www.autoadmit.com/thread.php?thread_id=4278326&forum_id=2#38354714)

white men not only have a moral obligation and duty to society to shut down the leftist rot and indoctrination in academia, but also a moral obligation to simply stop these people from getting straight up taken advantage of by....let's call them the "financial industry"

(http://www.autoadmit.com/thread.php?thread_id=4278326&forum_id=2#38354743)

This is utter chaos and order MUST BE RESTORED

(http://www.autoadmit.com/thread.php?thread_id=4278326&forum_id=2#38354763)

The racial wealth gap means black families have less wealth to draw from to pay for college, so black students borrow more. In addition, young black adults are less likely to have family resources — whether it’s just a financial cushion that helps make loan payments manageable or a wealth transfer through an inheritance or other form — to rely on when repaying their loans. They’re also more likely to be contributing to their families’ economic well-being. Add all that to labor market discrimination and what you get is a group of borrowers who are slower to pay back their loans.

Other data in Huelsman’s analysis helps to illustrate why that’s the case.White households with a bachelor’s degree have about $400,000 in net worth, compared to $68,000 for black households with a college degree.

That likely has an adverse consequence on the ability of borrowers of color to pay back their debt, Huelsman said. Among households in the middle of the income distribution, white households have four times the financial assets of black households and nearly nine times the financial assets of Latinx households.

(http://www.autoadmit.com/thread.php?thread_id=4278326&forum_id=2#38354747)

the way for-profit schools (and also the just shitty bottom barrel normal schools) prey on poor kids in this country is a total disgrace and people should be jailed

(http://www.autoadmit.com/thread.php?thread_id=4278326&forum_id=2#38358713)

They're getting fucked from every angle lol

(http://www.autoadmit.com/thread.php?thread_id=4278326&forum_id=2#38354933)

This is actually a good example of "structural racism" or whatever the lib buzzword is at the moment. poor kids trying to do the right thing, but don't know better or have anyone to tell them better, and end up getting fucked hard by blood-sucking scammers.

(http://www.autoadmit.com/thread.php?thread_id=4278326&forum_id=2#38358719)

They do both all the time in addition to other judgment enforcement mechanisms (bank account freeze and levy). I don't know why people in this thread act like defaulting on your loans is getting one over on the government. Your credit goes to shit, you have to worry about judgment enforcement, and you can't use bankruptcy to get out of it. And default interest on judgments is high (for a judgment docketed in NY it's 9%) so you can never get ahead of it. It becomes a permanent condition.

(http://www.autoadmit.com/thread.php?thread_id=4278326&forum_id=2#38355484)

I am willing to bet that much of this racial repayment gap arises from a disparity in college majors. Of course, white men are much more likely to graduate with valuable STEM degrees than useless Grievance Studies toilet paper.

The problem is structural:

Black college students are, on average, under-qualified (as compared to their white peers) to participate in STEM programs. This isn't because black students are generally stupid, but because they are significantly mismatched to their colleges as a result of AA. As a result of this mismatch, black kids fail out of STEM classes (at which they could have been successful, if they had been appropriately matched to a college with slower-paced, or remedial STEM programs). They compete with super-study AZNs and the smartest whites, who scored substantially better on standardized entrance exams. It is no surprise that they cannot compete with these groups, who score so much higher on entrance exams.

So how do they respond to this inevitable failure? They respond by signing up for grievance studies courses. They do this because (1) grievance studies courses are much easier than other courses, virtually guaranteeing a passing grade to minorities, and (2) there is significant socio-cultural pressure by college administrators and peers, for blacks to segregate into grievance studies.

Unfortunately, grievance studies degrees rarely lead to lucrative jobs (except those rare few people who leverage their grievance studies degrees to become college administrators, and other grievance-obsessed rent-seekers).

The whole structure is completely fucked up. If black students were correctly matched to schools where they could succeed, they would end up getting better jobs which would result in higher rates of loan repayment.

With this, as with so many other things, the negative externalities of shitlib policies hurt the very people they are designed to help.

(http://www.autoadmit.com/thread.php?thread_id=4278326&forum_id=2#38355679)

Do you think opening up blank checks for education to financially unsophisticated and largely irresponsible people was good idea? What can we do differently?

(http://www.autoadmit.com/thread.php?thread_id=4278326&forum_id=2#38355792)

There is an overall culture of placing minority kids into programs which are out of their grasp, and it cascades all the way down to the community college level. The entire structure, from pre-k to early work, presumes that black kids can succeed at the same level as white and asian kids, and indoctrinates them to strive for the same brass rings, and then it allows them to enter programs for which they are (by objective testing measures) underqualified.

Then, when the rubber hits the road, and they are faced with actual competition, they fail. But it's really not their fault. If you put a 90-IQ white kid, with a 1000 SAT in an MIT class with 130-IQ white kids, with 1600 SATs, he would fail. So why does anyone think that a black kid would succeed under the same circumstances.

Under the same principle (and apropos to your poast), if you put a 65-IQ white kid in community college, he would also fail. But 65-IQ kids are not fed this line that they are doing poorly in class because of "racism", and they can do anything, because Wakanda forever! So white kids are more likely to have a fair self-assessment of their strengths and weaknesses. The more intelligent ones go to college, and succeed. The less intelligent ones just don't go to college.

(http://www.autoadmit.com/thread.php?thread_id=4278326&forum_id=2#38355932)

Cr

(http://www.autoadmit.com/thread.php?thread_id=4278326&forum_id=2#38356106)

We had 8 years of the highest profile black man in history preaching that it was a right and duty to go to college.

(http://www.autoadmit.com/thread.php?thread_id=4278326&forum_id=2#38356065)

(http://www.autoadmit.com/thread.php?thread_id=4278326&forum_id=2#38356123)