Students from poorer families are struggling more to pay back their student loans, according to a new report. In theory, student loans are supposed to increase economic mobility by providing low-income students with money they wouldn’t otherwise have to attend college. But a new report suggests the loans may be helping to widen the gaps between the haves and have-nots.
Some highlights from the report: Students from poor families who entered school in the 2003-2004 academic year still had 91% of their debt remaining on average 12 years later
Students from wealthier families who entered school in the 2003-2004 […]