This is the third installment in a series of posts centered around data from the 2015 LSSSE Survey administration and the 2015 Annual Report, which provides a retrospective glimpse into law student debt trends over a 10-year period, 2006 to 2015, with 2011 as a midpoint. This post discusses student debt trends based on race and ethnicity. For sake of clearer explication of trends, this post focuses on respondents who identified as Asian, Black, Hispanic/Latino, or White.

Reliance on student loans is largely a reflection of wealth and access to alternative sources of funds. Students from less affluent backgrounds tend to rely on student loans to greater extents than their more affluent peers. This means that the large racial and ethnic wealth disparities in the U.S. have broad implications on student debt trends.

In each of the survey years, white and Asian respondents were more likely than black and Latino respondents to expect no debt.  Regarding high debt, a telling trend was observed.  In 2006, there were only marginal racial and ethnic differences in expectations of more than $100,000 in debt.  By 2011, however, clear disparities emerged, with black and Latino respondents more likely to expect debt at this level.  By 2015, the disparities became more intense, with 61% of black respondents and 56% of Latino respondents expecting debt at this level, compared to about 40% of white and Asian respondents.  That year, 43% of black respondents expected to owe more than $120,000—the first time a racial or ethnic group crossed the 40% threshold on any LSSSE debt category.[i]

[i]. Proportion of expected debt at various levels, by race

debt by race