{"id":18620,"date":"2019-07-19T18:36:44","date_gmt":"2019-07-19T18:36:44","guid":{"rendered":"https:\/\/www.englishforums.com\/news\/?p=18620"},"modified":"2019-07-19T18:36:44","modified_gmt":"2019-07-19T18:36:44","slug":"racial-wealth-gap-student-debt","status":"publish","type":"post","link":"https:\/\/www.englishforward.com\/news\/racial-wealth-gap-student-debt\/","title":{"rendered":"Racial wealth gap concerning student debt"},"content":{"rendered":"

With a skyrocketing student debt of one point five trillion United States dollars ($1.5 trillion), it causes distress to the forty-four (44) million American population across the country. However, a study shows that inequality is counted as a determining factor on how a student deal with cost living.<\/i><\/b>
\nFrom the year 2003 to 2008, <\/span>student debt in the Bay Area<\/span><\/a> jumped from six point two percent (6.2%) to twelve point two percent (12.2%), which shows that <\/span>within a span of few years, the figure was doubled.<\/b>\u00a0<\/span>
\nAn average person who lives independently in the metro area of San Francisco <\/span>has to save around sixty-nine thousand United States dollars ($69,000) in spending for necessity bills.<\/b>\u00a0<\/span>
\nA senior economist from the Economic Policy Institute (EPI), Elise Gould, mentioned how dire the circumstance:<\/span><\/p>\n

\u201cOnce you pay your mortgage and put food on the table and get to and from work you don\u2019t have a whole lot left over to pay your debt.\u201d<\/span><\/p><\/blockquote>\n

The rising racial wealth gap<\/b><\/h3>\n

Upsetting rising numbers have found that correlate about the racial issues which concern about the student debt.\u00a0<\/span>
\nNeighborhoods with a huge chunk of black and Hispanic locals show that nineteen point nine percent (19.9%) of total borrowers are at the minimum behind on their student loans for ninety (90) days. While similar districts but has the lowest percentage of black and Hispanic locals point to a total number of six point seven percent (6.7%).<\/span>
\nTreasurer of San Francisco, Jos\u00e9 Cisneros, stated how \u201cimpossible to ignore\u201d these numerals:<\/span><\/p>\n

\u201cStudent loan debt is accelerating the racial wealth gap in San Francisco, across the Bay Area and nationally.\u201d\u00a0<\/span>
\n\u201cThese findings are stark, upsetting, and impossible to ignore.\u201d<\/span><\/p><\/blockquote>\n

These noticed trends in the Bay Area indicates the student debt crisis which similarly reflects on <\/span>how it threatens education globally today<\/span><\/a>.\u00a0<\/span>
\nIn a report released by the Fed researchers:<\/span><\/p>\n

\u201cStudent debt burden is especially concerning in the Bay Area, where incomes have not kept pace with the skyrocketing cost of living<\/strong>, and income inequality has increased significantly<\/strong> over the past several decades.\u201d\u00a0<\/span>
\n\u201cStagnant wage growth has made it hard for low-income families in the Bay Area to cope with rising expenses.\u201d<\/span><\/p><\/blockquote>\n

Another report was found that the highest prevalence of people who have a student loan in the region is Solano County which has fifteen percent (15%). All the while, it has the lowest number of twenty-one point seven percent (21.7%) of total borrowers who earn a bachelor\u2019s degree.<\/span>
\nWith the social issues in place, student loan borrowers attend school with <\/span>limited resources<\/span><\/a> as well as being targeted of the <\/span>\u201csubtlety of while cultural expectations\u201d<\/span><\/a> in terms of career opportunities that could hinder to pay off the debt. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

With a skyrocketing student debt of one point five trillion United States dollars ($1.5 trillion), it causes distress to the forty-four (44) million American population across the country. However, a study shows that inequality is counted as a determining factor on how a student deal with cost living. From the year 2003 to 2008, student […]<\/p>\n","protected":false},"author":9,"featured_media":18621,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[2,25],"tags":[150,235,452,1211,1228,1350,1385],"_links":{"self":[{"href":"https:\/\/www.englishforward.com\/news\/wp-json\/wp\/v2\/posts\/18620"}],"collection":[{"href":"https:\/\/www.englishforward.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.englishforward.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.englishforward.com\/news\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/www.englishforward.com\/news\/wp-json\/wp\/v2\/comments?post=18620"}],"version-history":[{"count":0,"href":"https:\/\/www.englishforward.com\/news\/wp-json\/wp\/v2\/posts\/18620\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.englishforward.com\/news\/wp-json\/wp\/v2\/media\/18621"}],"wp:attachment":[{"href":"https:\/\/www.englishforward.com\/news\/wp-json\/wp\/v2\/media?parent=18620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.englishforward.com\/news\/wp-json\/wp\/v2\/categories?post=18620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.englishforward.com\/news\/wp-json\/wp\/v2\/tags?post=18620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}