Financial Literacy

The Floyd Turner Foundation

According to statistical research by

Black and African American college graduates owe an average of $25,000 more in student loan debt than White college graduates

Four years after graduation, 48% of Black students owe an average of 12.5% more than they borrowed.

Black and African American student borrowers are the most likely to struggle financially due to student loan debt, with 29% making monthly payments of $350 or more.

Socioeconomic factors are largely responsible for this disparity. The Floyd Turner Foundation seeks to close the gap through local business partnerships to provide financial literacy education tools in the areas of banking and investing. Education in this area is key in aiding students to eradicate student debt and helping build generational wealth thus building more financial literate communities.