A recent study by Student Loan Hero discovered that the LGBTQ has more student loan debt than any other group of students. The summarized findings are as follows:
- Sixty percent of the LGBTQ regret borrowing on student loans versus forty-five percent of students in general.
- More than twenty-five percent of LGBTQ borrowers feel their debt is unmanageable.
- Fifty-three percent of LGBTQ borrowers are more likely than the general population to make less than $50,000 a year. Lower income may be tied into discriminatory acts, especially considering that more than half of the United States allows job termination due to sexual orientation and/or gender identity.
- One-third of the LGBTQ community states they were denied financial help due to their gender and/or sexual orientation.
- The LGBTQ community is less prepared for retirement. The general student borrower population has retirement savings (fifty-six percent) versus LGBTQ which is at forty-seven percent.
- To make matters worse, thirty-three percent of the LGBTQ community have been kicked out of their homes because of their sexual orientation or gender identity.
Alexander Hernandez, Esq.
Alexander Hernandez is a bankruptcy attorney practicing in Jacksonville and the surrounding areas, including Miami, Florida. He is also the author of numerous books that could be found via this link.
The Department of Education came out publicly and stated they wish to consider options for students loans and bankruptcy.
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Alexander Hernandez has been representing clients since 1999 in the areas of bankruptcy, family law, and personal injury.
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