Removed together with her, the results off Table 2 suggest that relatives records, more youthful mature postsecondary schooling, and more youthful adult public and you will economic characteristics describe as much as fifty % of one’s black–light difference within the student loan debt

Fundamentally, Model 5 raises more youthful adult’s monetary literacy, inclination to have exposure, and you can net worthy of and you can income in the age twenty-five survey. Ones details, just web really worth is much regarding the education loan personal debt, due to the fact a beneficial 10 thousand-dollar increase in young adult net well worth are regarding the 7.6 % reduced student loan loans. While doing so, the newest addition regarding younger adult net worth next teaches you the fresh new racial gap in education loan obligations, given that race coefficient are shorter by the everything 12 % from Model 4 in order to Model 5.

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