JFI report shows dramatic increases in millennial student debt, interactive map of disparate impacts
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New York, NY, September 17, 2020 — A new report from Jain Family Institute researchers finds that the lowest-income communities, especially majority-minority neighborhoods, have seen an increase in student debt burdens since the Great Recession, with debt relative to income in 2018 at 94% for the poorest communities. Across all borrowers, the study finds an 18% increase in median student debt balances nationwide since 2009, and a 54% increase in majority-Black neighborhoods
The third in an ongoing series on millennial student debt, the newest report builds upon JFI’s extensive interactive map of student access to higher education nationwide with added debt and income data, showing rising debt levels across all student borrowers, with the most dramatic increases in student loan debt in the Great Lakes region of the US, which saw a 28% increase in student debt burdens since 2009, including the key swing states of Wisconsin, Michigan, and Ohio…continue reading