and Latinx people in the United States. 2 For students of color, who are disproportionately
likely to lack financial resources, the burden of debt undermines opportunity, deters some
from pursuing higher education entirely, and punishes those who pursue it. Black students
are disproportionately likely to borrow, 3 to borrow larger amounts, 4 to take out student
loans to attend for-profit schools 5 with worse career outcomes, 6 and to