
04/24/2019
“One in six student loan borrowers, faces ‘severe difficulty’ in repaying their loans. In some low income bay area neighborhoods, it's closer to 42 percent.
‘It disproportionately effects and hurts certain groups, black and Latino borrowers, first generation students. And really, it hits in certain neighborhoods in a way that is not just disturbing, it's alarming,’ says David Erickson with the Federal Reserve Bank of San Francisco.
He was one of the speakers at an event held at the Federal Reserve Bank in San Francisco to discuss the report's findings.”
For most Americans, an investment in higher education is a key driver of economic security and mobility. However, rapidly rising costs of attendance, combined with stagnant wages and inadequate support systems for vulnerable borrowers have resulted in outcomes that are at odds with our collective vi...