Parent PLUS Loans a ‘Double-Edged Sword’ for Black Families Katherine Knott, Inside Higher Ed Approximately 43 million Americans collectively owe $1.5 trillion in federal student loan debt, but students aren’t the only ones drowning in this debt. Increasingly, parents—particularly Black parents—are taking out Parent PLUS loans and putting off retirement to help their children pay for college, says a new report from The Education Trust.
“I will be dead before that principal balance ever gets paid off,” one borrower states in the study. |