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Figure 4. Education Debt ($) Source: Authors’ calculations based on the Survey of Consumer Finances (). Note: Means per year for families with children in the top 50 percent and bottom 50 percent on wealth distribution, with confidence intervals (shades). All dollar values are in 2016 U.S. dollars. When all families are analyzed, increases over time are statistically significant, and they are greater for families below median wealth. These trends are driven entirely by Whites. Among Blacks and Hispanics, increases over time are statistically significant for families above and beyond median wealth, and show no statistically significant differences between the two. Differences between Blacks and Whites are not statistically significant. Differences between Hispanics and Whites are statistically significant.
Figure 4.

Education Debt ($)

Source: Authors’ calculations based on the Survey of Consumer Finances (Federal Reserve 2020).

Note: Means per year for families with children in the top 50 percent and bottom 50 percent on wealth distribution, with confidence intervals (shades). All dollar values are in 2016 U.S. dollars. When all families are analyzed, increases over time are statistically significant, and they are greater for families below median wealth. These trends are driven entirely by Whites. Among Blacks and Hispanics, increases over time are statistically significant for families above and beyond median wealth, and show no statistically significant differences between the two. Differences between Blacks and Whites are not statistically significant. Differences between Hispanics and Whites are statistically significant.

Direct correspondence to: Nina Bandelj at nina.bandelj@uci.edu, 3151 Social Sciences Plaza, University of California-Irvine, Irvine, CA 92617, United States; and Angelina Grigoryeva at angelina.grigoryeva@utoronto.ca.
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