Elizabeth Warren Rolls Out Education Plan Impacting HBCUs and Black and Latinx Students
Presidential candidate Senator Elizabeth Warren (D-MA) on Monday rolled out a comprehensive education policy: a $1.25 trillion plan to reshape higher education by canceling most student loan debt and eliminating tuition at every public college. It includes a plan to create a $50 billion fund to support HBCUs. Warren’s education policy would also prohibit colleges from considering citizenship status and criminal history in admission decisions. And it would cut off federal money from for-profit colleges -- which serve a disproportionate number of African American and Latinx students, and often fail to provide a quality education for students, leaving many with a dangerous level of debt. Warren’s policy has been well received by many experts saying it would improve the financial futures of young people, and help reduce the racial wealth gap between whites and people of color, who have been disproportionately burdened by student loans. Just last week, a WSJ analysis found that HBCU students are leaving with disproportionately high loans compared with their peers at other schools. One of the reasons they found was that tuition increases have outstripped inflation across America. Black families have the least wealth of the largest U.S. racial groups, and parents of Black college students have lower incomes and are less likely to own homes than those from other racial groups. So, in coping with tuition increases, WSJ reports that Black students have fewer resources to draw on than many Americans. Hence, borrowing proportionally more has been the solution for many Black students and families. Warren’s plan would eliminate up to $50,000 in student loan debt for every person with a household income of less than $100,000; borrowers who make between $100,000 and $250,000 would have a portion of their debt forgiven. More on her plan here.