Graduates Of Historically Black Colleges Could Be Paying More For Loans: Watchdog Group

Graduates Of Historically Black Colleges Could Be Paying More For Loans: Watchdog Group

The scholar Borrower Protection Center, a watchdog team, states one lender generally seems to charge greater prices to graduates of historically black colored colleges. Jahi Chikwendiu/The Washington Post via Getty Images hide caption

The scholar Borrower Protection Center, a watchdog group, states one loan provider generally seems to charge greater prices to graduates of historically colleges that are black.

Jahi Chikwendiu/The Washington Post via Getty Images

Financial firms could be discriminating against individuals according to where they went along to university, a watchdog group claims. In specific, the team unearthed that a loan provider known as Upstart seems to be charging you higher rates of interest on student education loans to graduates of historically black colored or predominantly Hispanic universities.

Much more individuals are getting loans today from a unique strain of loan providers referred to as fintechs, or economic technology organizations. Plus some of those loan providers element in where loan candidates went along to university.

“It actually raised some security flags, ” stated Kat Welbeck, the civil liberties counsel in the student that is nonprofit Protection Center. Continue reading Graduates Of Historically Black Colleges Could Be Paying More For Loans: Watchdog Group