Nearly half of black Americans who borrowed from the federal government to attend college defaulted on their student loans — more than double the rate among white student debtors, according to new data from the U.S. Department of Education.
The figures are part of a comprehensive report out this month that examines students who first enrolled in college during the 2003-04 academic year and whether they defaulted on at least one federal loan over the next 12 years, or until June 2015.
Robert Kelchen, an assistant professor at Seton Hall University who researches higher education, compiled default rates by race and provided it to Bloomberg.