REPORT: HBCU Students Pay Higher Loan Rates

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Published on 13 Feb 2020, 5:15
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Financial firms might be discriminating against people based on their college. John Iadarola and Cenk Uygur, hosts of The Young Turks, break it down. MORE TYT: tyt.com/trial

Read more here:
npr.org/2020/02/05/802904167/watchdog-gr...

"Financial firms may be discriminating against people based on where they went to college, a watchdog group says. In particular, the group found that a lender named Upstart appears to be charging higher interest rates on student loans to graduates of historically black or predominantly Hispanic colleges.

A lot more people are getting loans these days from a new breed of lenders known as fintechs, or financial technology firms. And some of these lenders factor in where loan applicants went to college.

"It really raised some alarm flags," said Kat Welbeck, the civil rights counsel at the nonprofit Student Borrower Protection Center."

Hosts: John Iadarola, Cenk Uygur

Cast: John Iadarola, Cenk Uygur

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