The Student Loan Crisis Is a Racial Inequality Issue

Spoiler alert: Having intergenerational wealth helps a lot

Sen. Elizabeth Warren, D-Mass., and House Majority Whip Jim Clyburn, D-S.C., hold a press conference in the Dirksen Senate Office Buidling to introduce the Student Loan Debt Relief Act to cancel student loan debt for millions of Americans on Tuesday, July 23, 2019. Photo: Bill Clark/CQ Roll Call/Getty Images

This week, President-elect Joe Biden affirmed his support during a press conference for erasing some student loan debt “immediately.” Biden repeated his support for the HEROES Act, which calls for the federal government to pay off up to $10,000 in private, nonfederal student…