Older Black households are much more likely than white or Hispanic households to have education debt: Percentage of households ages 55–64 with education loan debt, by race and ethnicity, 1992 and 2019
| Share of households with education loan debt | White | Black | Hispanic |
|---|---|---|---|
| 1992 | 3.2% | 3.6% | 0.2% |
| 2019 | 11.5% | 18.4% | 7.3% |
Note: In the Survey of Consumer Finances, age and other household characteristics are based on the reference person, defined as the individual for a single householder, the male in a mixed-sex couple, and the older person in a same-sex couple.
Source: Economic Policy Institute (EPI) and Schwartz Center for Economic Policy Analysis (SCEPA) analysis of Survey of Consumer Finances microdata (Federal Reserve 2022a).