"Analysts used microdata from the U.S. Census Bureau’s American Community Survey as well as the National Postsecondary Student Aid Study hosted by National Center for Education Statistics to differentiate between the earnings and out-of-pocket expenses for millennial students (ages 23-38 in 2019) who identified as Black and students who don’t identify as Black. Specifically, the study found that in 2019 Black millennial bachelor’s degree-holders earned 22% less than non-Black grads ($44,498 versus $56,731). Further, Black degree holders and their families borrowed 35% more, on average, in the 2015-2016 academic year (the latest available data)." Learn more from NASFAA here.

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