Majority of Black College Students Support Loan Cancellation, as Underfunding of HBCUs Compounds

United Negro College Fund, Inc. (UNCF) November 9, 2021·6 min read

New research and documentary film illuminate heavy debt burdens and financial struggles of Black graduates of HBCUs Washington, DC, Nov. 09, 2021 (GLOBE NEWSWIRE) -- WASHINGTON, DC (Nov. 9, 2021) — More than 87% of Black students who attend historically Black colleges and universities (HBCUs) strongly support debt cancellation. In addition, more than 90% of Black borrowers support other policy solutions to address the institutional funding disparities and lack of family wealth that leave Black HBCU graduates with significantly higher student loan debt burdens than their White peers, according to a national study and focus groups conducted by UNCF (United Negro College Fund), the Center for Responsible Lending and UNC Center for Community Capital. A 16-minute documentary released today, featuring Congresswoman Alma Adams, student debt policy experts, and HBCU alumnae borrowers brings to life the burdens borne by HBCU alumnae, who find great value in their college experiences but suffer from heavier debt burdens. Historic and ongoing systemic racism means these students have less family wealth to draw on, and HBCUs are historically underfunded. View “My Yard, My Debt: The HBCU Student Borrower Experience”. A panel of stakeholders discussed key findings of the study and research via Facebook Live. Participating panelists were Rep. Alma Adams, (D-NC 12); Derrick Johnson, NAACP CEO; Rev. Cassandra Gould, executive director, Missouri Faith Voices; Ashley Harrington, federal student aid senior advisor; and Robert Stephens, policy director, Voices for Progress. The panel was moderated by Center for Responsible Lending Outreach Associate Jaylon Herbin.