Russel Sage Foundation

The continued rise in student debt has negatively affected socioeconomic mobility among young American adults, with Black Americans bearing the brunt of student debt burden. Though Americans romanticize entrepreneurship as a path to socioeconomic mobility, little is known about the consequences of student debt burden for business ownership and success, and how such consequences vary by race. While some research contends that higher education increases business ownership and success, we know little about whether and how this relationship varies by race. Drawing on longitudinal data from the Survey of Income and Program Participation, sociologist Daniel Auguste will examine the extent to which student loan debt, race, and educational attainment affect business ownership and success.