Good Trouble for Good Debt? A Comparative Analysis of Financial Factors and Racial Differences in U.S. Student Loan Debt Burdens

Authors

• Carlton R. Smith, University of North Carolina - WilmingtonFollow
• Kim E. Bullington, Old Dominion UniversityFollow
• Matthew J. Smith, Augusta UniversityFollow

Abstract

This study examines the relationship surrounding undergraduate student loan debt burdens and income levels post-graduation, focusing particularly on the financial impacts of both on Black student borrowers. Using two datasets from the National Center for Education Statistics, our quantitative analysis highlights that while student loan debt in and of itself is not problematic in theory, when combined with other factors and barriers, debt becomes an additional stressor potentially impeding student success during and after college. We offer short-, intermediate-, and long-term implications, while also highlighting examples of targeted intervention programs tailored to specifically benefit Black student borrowers.

First Page

98

Last Page

127

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Recommended Citation

Smith, C. R., Bullington, K. E., & Smith, M. J. (2026). Good trouble for good debt? A comparative Analysis of financial factors and racial Differences in U.S. Student loan debt burdens. Journal of Higher Education & Student Affairs, 42(1), 98-127. https://doi.org/10.20429/jhesa.2026.420106