- Author: NBCLatino, by Sandra Lilley
For many Latino families, average household incomes in the past decade have gone down. Hispanics lost 66 percent of their household wealth following the Great Recession, and unemployment has been high among Latinos. This has resulted in two things. Households have reduced spending, but for big expenditures like mortgages, automobiles and higher education, families have to take on additional debt.
Yet in the area of student loans, and even more so with auto loans, Latino families are still being steered in many cases toward riskier and even predatory loans, according to a new report from the
- Author: Myriam Grajales-Hall
A report released by the University of California, Riverside, indicates that more attention needs to be placed on finances to increase the number of Latino students graduating in science, technology, engineering and math (STEM) fields.
The authors of the report found STEM majors receiving more financial support from their parents were more likely to graduate from highly selective institutions than students with less support.
According to the authors, the findings reveal yet another way that Latina and Latino students are disadvantaged in the current context of rising college costs and falling non-loan financial aid.