Do US Student Loan Companies Discriminate?
I read in this article that US government officials are asking the big lending companies to say it isn’t so and back it up with some proof.
The tricky thing about this ethical question is that traditionally black colleges still have a predominately black student body. Since every school has different fee structures, it stands to reason that lenders would have differing policies for different schools. The lenders are interested in the bottom line. If repayment statistics aren’t as favorable in one school as they are in another school, it stands to reason that a lender would charge a less favorable rate. It will be quite an indictment of the industry if the numbers do bear witness to racial prejudice. I think there are going to be a lot of semantics thrown around as this issue is dealt with.
