Disparities in postsecondary degree completion rates and student loan defaults by race and ethnicity

Individuals with a bachelor’s degree as their highest degree earned 39% more than associate degree holders and 65% more than those with only a high school diploma, according to U.S. Bureau of Labor statistics in 2022. Because most people pursue education in early adulthood, racial and ethnic differences in educational attainment could impact differences in lifelong financial security and explain a portion of existing income and wealth gaps.