How Parent PLUS Worsens the Racial Wealth Gap
“A federal loan program designed to help parents finance their children’s college education is seen by many as a tool for access, but it may be exacerbating racial inequality, New America argues in a new report. While white Americans who use the loan program, known as Parent PLUS, are primarily the middle- and upper-class families it was designed for, it is also heavily used by low-income African-American families with the least ability to repay, the report finds.”