According to the Washington Post, student debt is what keeps black students from entering the middle class. The blog post written by Ann-Marie Adams claims that loans are keeping American minority groups from climbing the socio-econominc ladder. Black college graduates have been disproportionately affected by the debt crisis–more than 80 percent of African American students graduated with debt.
The consequences of the growing debt-norm? More black students at four-year universities drop out of college, and 69 percent said it was for financial reasons. This tendency to leave school is leaving more minorities without degrees, keeping them from more high-paying jobs. As the job market is expected to improve following the retirement of baby boomers, this will negatively affect black adults even more. By 2018, American employers will need 22 million new workers with college degrees. But fulfilling this need could be difficult, Adams said.