Suchergebnisse

Student debt in the United States has had a disproportionate negative impact on black and Latinx borrowers. We argue that analyses of plans proposing student debt cancellation should therefore foreground their potential impact on racial equity. To do so, we use data from the 2019 Survey of Consumer Finances and model the impact of debt cancellation on four key policy outcomes (reach, impact on the most vulnerable borrowers, borrower wealth gains, and impact on racial wealth gaps). We examine universal policy designs as well as designs that incorporate an income eligibility threshold as a means of targeting benefits toward less affluent borrowers. We find that cancellation amounts ranging from $50,000 to $75,000 yield the most desirable outcomes, especially when paired with a relatively low household income eligibility cutoff at between $100,000 and $150,000. Such policies would cancel roughly half of all outstanding student debt without substantially expanding the racial wealth gap, while still reaching a large majority of borrowers and leading to substantial wealth gains, especially for black households.

Frontmatter -- Contents -- Preface -- Acknowledgments -- On Redress for Racial Injustice -- Part 1. Racial Inequality and White Privilege -- Introduction -- Racial Injustices in U.S. History and Their Legacy -- Race Preferences and Race Privileges -- A Sociology of Wealth and Racial Inequality -- Part 2. Law, Citizenship, and the State -- Introduction -- The Case for Reparations -- Toward a Theory of Racial Reparations -- The Constitutionality of Black Reparations -- The Theory of Restitution -- Reparations to African Americans? -- Part 3. Reparations: Formation and Modes of Redress -- Introduction -- ''A Day of Reckoning'' -- Forty Acres, or, An Act of Bad Faith -- The Economic Basis for Reparations to Black America -- The Political Economy of Ending Racism and the World Conference against Racism -- The Rise of the Reparations Movement -- Part 4. Case Studies of Injustice and Intervention -- Introduction -- Nineteenth-Century New York City's Complicity with Slavery -- Railroads, Race, and Reparations -- Reparations -- Residential Segregation and Persistent Urban Poverty -- Part 5. Mobilizing Strategies -- Introduction -- The Politics of Racial Reparations -- The Case for U.S. Reparations to African Americans -- The Promises and Pitfalls of Reparations -- Repatriation as Reparations for Slavery and Jim Crow -- What's Next? -- The Reparations Movement -- Reparations -- Tulsa Reparations -- Race for Power -- Documents -- Introduction -- Section 1. Federal Acts and Resolutions -- Section 2. State Legislation -- Section 3. Municipal Resolutions -- Section 4. Advocacy and Activism -- Section 5. Case Studies of Redress -- Section 6. Lawsuits -- Selected Bibliography -- Contributors -- Acknowledgment of Copyrights -- Index