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The world has adopted a new persona, a more ruthless one. After the attack on George Floyd by the local cops. A rejuvenated sense of unity among African American people took center stage as they felt that white supremacy had been a genuine problem for far too long. For some black people not all who walks the streets, it’s a battle, even if it doesn’t involve gunshots. Unfortunately, it’s not just the streets. In workplaces, shops, court systems and even in the house of finances, you’d find that black citizens sometimes face exponentially more challenges.

Battle of Races or Interest Rates – Which one is it?

To make matters worse, PBS News Hour shared a statement from Assistant Professor of Education at Villanova University Jalil Mustaffa Bishop. He said, “Black borrowers borrow more student loans than any other group. They’re more likely to be targeted by for-profit institutions, which usually are more expensive and have some of the lowest graduation rates. And then on top of that, they enter a labor market that still has continuous wage gaps and patterns of labor market discrimination.


This is a culmination of what some African Americans have faced for years. Charles Chadwick, – author of Chadwick’s College Checklist and Chadwick’s Cultivated Circumstance – who is African-American, has something different to say. He attended college, even though his parents didn’t have enough money to give him a college education. Just like other citizens of the United States, he also had a chance to apply for a student loan. He eventually did procure a loan, but after earning his degrees, he has paid back his loans through sheer effort and hard work. He also learned and worked a trade to help pay off his loan. But the graceful Charles doesn’t think that it’s always racism that’s causing problems, rather it’s the interest rates and lack of understanding!

The article shared by PBS News Hour is also an eye-opener, given what the world is going through. With the recession and aftermath of COVID-19 hanging on to us like a leech, people doing this are unacceptable. But Charles believes with proper data information/understanding, we can ensure better results. Students must know the interest rates and how they can be effective in finances right from the get-go before attending any college.

Black Students Data Collection

Mind you, student loans can be sometime be looked at as investment, and it is not wise for anyone to be cheated out of a decent interest rate on a loan. Student loans can sometimes appear to be a good investment for a better career, but in the end, some students do not always win!  In this case, what if African American students were presented some data to show interest rates among all ethnicities.  Could they have made or claimed they were being taken advantage of early on or ask more questions to why the rate is higher? Also, students could have researched and explore more options with different loan providers etc. I can only imagine if this information could be presented to middle and high school students/parents how much better the future outcome could be for students?

A group of African-American students gathered some data to show interest rates among different ethnicities. Borrowers of different races or ethnicities indeed have varying obstacles in their quest for advanced education. Unfortunately, it’s not just limited to the United States. One especially intriguing stat was that 70% of White and Caucasian students have more debt than 40% of Black students. Further, black students in the United States have higher interest rates, but not elsewhere. Perhaps, the reason for the difference is that some people have to try harder to make ends meet in comparison to other groups for various reasons culturally.

Charles shares that before he graduated college, he would eventually have to pay off his loans, but he understood his interest rates first and later on was not financially hurt! A person must understand their finances if they wish to strive and thrive in this world.  Even outside of a college environment a person should always strive and acquire some type of financial knowledge. This is one of many lessons that Charles wants to share with the current and upcoming college students especially African Americans and all other races.

However, the statistics and data do give Charles’s approach meaning. Please see the chart below to see the student loan debt ratio among students in the year of 2022. The chart comes from an online article by Hanson, Melanie titled ““Student Loan Debt by Race.”

SOURCE: Hanson, Melanie. “Student Loan Debt by Race”, June 13, 2022,

The Need for Financial Awareness Among All Students

Lack of financial awareness has cost students a lot over the years, and it has become oddly predictable. The statement, shared by Jalil Mustaffa Bishop from PBS Article, is merely a foreshadowing of what will happen if we don’t take care of the situation right now. Charles Chadwick has always been a true nontraditional educationalist. He wants to make a difference by introducing students to a new type of mindset! Please start planning and understanding finances to achieve some type of success. It’s essential to understand that acquiring a student loan is very easy, but paying it off can sometimes be harder than one can imagine. So, it’s time that we take the initial step and gain financial awareness.

In today’s fast-paced world, it’s all about making the right decision at the right time. Students, please don’t wait to start getting some type of financial knowledge!   Don’t be like the many that have already graduated and are now eating their slice of payments from the big student loan deficit cake! Always learn finances first, because a student can then limit how much they could be financially hurt!  When Charles attended college, he was not stressed out or lost, because he knew his interest rates and how to cut his college costs it had nothing to do with his race!

Charles wants the same thing for future students. Order your copy of his books today to get started on the do’s and don’ts on how to achieve this goal. He wrote two books with the best futuristic outlook. In reference to reducing college expenses please pick up “Chadwick’s College Checklist” or if you want to learn a trade or develop a mindset for better career advancement, please checkout “Chadwick’s Cultivated Circumstances.”

For more information about Charles and his events, please explore all pages on the website.  Checkout one of the many podcasts Charles has been featured on called “The Speakeasy Podcast.” To listen to the podcast below just click the image below and link will open.

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