Black students were the most likely to borrow to pay for college of all groups. In 2003-04, 43 percent of Black undergraduate students borrowed to pay for college compared to 35 percent of all undergraduates. This borrowing pattern was consistent for Black students at all types of institutions—community colleges, public universities, private not-for-profit institutions, and for-profit institutions—perhaps because of their relatively high levels of financial need.
Research
Student Aversion to Borrowing: Who Borrows and Who Doesn't, By Race/Ethnicity
Fast Facts
National Center for Education Statistics, Student Aversion to Borrowing: Who Borrows and Who Doesn’t
