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

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

The scholar Borrower Protection Center, a watchdog team, states one loan provider appears to charge greater rates to graduates of historically colleges that are black. Jahi Chikwendiu/The Washington Post via Getty Images hide caption

The scholar Borrower Protection Center, a watchdog team, states one loan provider appears to charge higher prices to graduates of historically colleges that are black.

Jahi Chikwendiu/The Washington Post via Getty Images

Financial firms might be discriminating against individuals according to where they visited university, a watchdog team states. In specific, the team discovered that a loan provider called Upstart is apparently charging you greater interest levels on figuratively speaking to graduates of historically black colored or colleges that are predominantly hispanic.

Far more individuals are getting loans today from a brand new strain of loan providers referred to as fintechs, or technology that is financial. Plus some among these lenders element in where loan candidates decided to go to university.

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