NCES Data Show Black or African American Graduates Who Took Out Federal Student Loans Owed Average of 105 Percent of the Initial Loan Values 4 Years After Graduation

Data also show 4 years after graduation, 77 percent of 2015?16 bachelor's degree earners who majored in education were either new or continuing teachers 

WASHINGTON, Sept. 26, 2022 /PRNewswire/ -- Among 2015?16 college graduates with bachelor's degrees who took out federal student loans, Black or African American graduates owed an average of 105 percent of the original amount borrowed 4 years after graduation compared to 73 percent for White borrowers, according to one of two reports released today by the National Center for Education Statistics (NCES) within the U.S. Department of Education's Institute of Education Sciences (IES). Additionally, four years after graduation, 77 percent of 2015?16 bachelor's degree earners who majored in education were either new or continuing teachers in a regular classroom since 2017. 

The second report, which examined the experiences of 2015?16 bachelor's degree earners during the coronavirus (COVID-19) pandemic, found that 51 percent of 2015?16 graduates had the option to telecommute due to the COVID-19 pandemic. Between 14 and 29 percent of ethnic and racial minority degree earners took on additional family or child care responsibilities during the COVID-19 pandemic (American Indian or Alaska Native graduates, 29 percent; Black or African American and Hispanic or Latino graduates, 19 percent each; and Asian graduates, 14 percent), compared to 11 percent of White degree earners who said they had additional family or child care responsibilities due to the COVID-19 pandemic. 

"Data from the 2016/20 Baccalaureate and Beyond Longitudinal Study (B&B:16/20) show the array of issues that are impacting college graduates, both positively and negatively, early in their career paths," said NCES Commissioner Peggy G. Carr. "As our country responds to the challenges of the COVID-19 pandemic, the data presented in these reports provide important information for uncovering and understanding the experiences of recent college graduates in an unprecedented time. Overall, the Baccalaureate and Beyond Longitudinal Study can be used to understand and chart pathways toward better opportunities for lifelong success."

The first report, Baccalaureate and Beyond (B&B:16/20): A First Look at the 2020 Employment and Education Experiences of 2015?16 College Graduates, examines information on enrollment and employment status, federal student loan debt and repayment, earnings and other job characteristics, financial well-being, and teaching status?4 years after earning 2015?16 bachelor's degrees. Highlights from the report include:

• Four years after earning their bachelor's degrees in 2015?16, Black or African American graduates who took out federal student loans owed an average of 105 percent of the original amount borrowed. American Indian or Alaska Native borrowers owed an average of 87 percent, and both Hispanic or Latino borrowers and borrowers of two or more races owed an average of 84 percent. Native Hawaiian or Other Pacific Islander borrowers owed 82 percent, White borrowers owed 73 percent, and Asian borrowers owed 63 percent of the original amount borrowed 4 years later.
• Four years after graduation, 77 percent of 2015?16 bachelor's degree earners who majored in education were either new or continuing teachers in a regular classroom since 2017. Ten percent of graduates who majored in education had never taught in a regular classroom, and 12 percent had left classroom teaching 4 years after graduation.
• Seventy-four percent of 2015?16 graduates were working full-time 4 years after graduation, 7 percent were working part time, 4 percent were unemployed, and 14 percent were out of the labor force. Thirty-one percent of graduates owned a home, and 34 percent reported negative net worth.

The data from the first report can be found at http://nces.ed.gov/pubsearch/pubsinfo.asp?pubid=2022241. 

The second report, Baccalaureate and Beyond (B&B:16/20): A First Look at the 2020 Experiences of 2015?16 College Graduates During the COVID-19 Pandemic, examines information on professional and personal experiences, federal student loan repayment, employment status and characteristics, changes to work arrangements, and unemployment compensation?4 years after earning 2015?16 bachelor's degrees. Highlights from the report include:

• Among 2015?16 bachelor's degree earners, 29 percent of American Indian or Alaska Native graduates said they took on additional family or child care responsibilities during the COVID-19 pandemic. Nineteen percent of both Black or African American graduates and Hispanic or Latino graduates said they took on additional family or child care responsibilities. Fourteen percent of Asian graduates, 12 percent of graduates of two or more races, and 11 percent of White graduates said they had additional family or child care responsibilities due to the COVID-19 pandemic.
• Twenty-six percent of 2015?16 bachelor's degree earners said they worked more than desired due to the COVID-19 pandemic, and 27 percent said they worked less than desired.
• Among graduates who were working for pay and for whom 4 years after bachelor's degree completion was during the early months of the COVID-19 pandemic, 51 percent said they were allowed to telecommute due to the COVID-19 pandemic. Among those who majored in education, 75 percent said they were allowed to telecommute due to the COVID-19 pandemic.
• Among graduates for whom 4 years after bachelor's degree completion was during the early months of the COVID-19 pandemic, 13 percent said they received unemployment compensation due to the COVID-19 pandemic in 2020.
• Thirteen percent of 2015?16 bachelor's degree earners said they delayed enrolling in additional education or training, while 14 percent said they pursued additional education or training due to the COVID-19 pandemic

The data from the second report can be found at http://nces.ed.gov/pubsearch/pubsinfo.asp?pubid=2022251. 

The two publications released today use data from the 2016/20 Baccalaureate and Beyond Longitudinal Study (B&B:16/20), which is a national study of approximately 25,000 graduates from U.S. colleges and universities who were asked about their experiences in the 4 years since completing a bachelor's degree. The study collected information on graduate and other education, experiences in the labor market, earnings and expenses, and family status. In addition to survey responses, information was collected from sources such as enrollment and federal student loan databases.

The National Center for Education Statistics (NCES), a principal agency of the U.S. Federal Statistical System, is the statistical center of the U.S. Department of Education and the primary federal entity for collecting and analyzing data related to education in the U.S. and other nations. NCES, located within the Institute of Education Sciences (IES), fulfills a congressional mandate to collect, collate, analyze, and report complete statistics on the condition of American education; conduct and publish reports; and review and report on education activities internationally. Follow NCES on Twitter, Facebook, LinkedIn, and YouTube and subscribe to the NCES News Flash to receive email notifications when new data are released.

IES is the independent and nonpartisan statistics, research, and evaluation arm of the U.S. Department of Education. Its mission is to provide scientific evidence on which to ground education practice and policy and to share this information in formats that are useful and accessible to educators, parents, policymakers, researchers, and the public.

CONTACT:
Josh Delarosa, National Center for Education Statistics, [email protected]
James Elias, Hager Sharp, [email protected] 

SOURCE National Center for Education Statistics