This is EU data, but speaking of math: US people, don't do the math on being a poor Black girl with straight As, who takes out loans for 4 years of undergraduate tuition + 5 years of grad school tuition to get a PhD, and then only being able to use it for under 9 years. 🤡

Brilliant Black girls tend to have much poorer parents than the average American, and so need to borrow more for college. They're also more likely to excel in school and complete more levels than Black boys.

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20 years after the first year of college, the typical white student has paid down 94% of their borrowed amount.👍🏻

20 years after the first year of college, the typical Black student still owes 95% of their initial borrowed amount.😮

So US college education and loans *increase* the racial wealth gap, not reduce it🙂🙃

https://dfpi.ca.gov/2023/02/13/student-loan-debt-a-disproportionate-burden-on-black-and-latino-borrowers/

Which is the real reason that some US folk are so against student loan forgiveness: much of that *$2 trillion* in debt, is held by educated Black women.

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And for my European friends that are struggling to understand the economics of this:

Most of the Black women that still owe 95% of the original loan amount, have been making the required payment amounts, every month, for 20 years.

Imagine I clone you 3 times, making clone1, clone2, and clone3 of you.

Clone1 I lend €1,000.00

Clone2 I lend €100,000.00

Clone3 I lend €1,000,000,000.00

All at 6% interest.

Based on income, I set the monthly repayment amount to be €200.00. I am so kind!🤡

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