The percentage of first-year applicants identifying as Black or Latino jumped 12% and 13%, respectively, year over year, outpacing other groups. At the same time, colleges are seeing an increase in first-generation applicants and international students, the Common App found. The financial aid factorFor many families, the price tag is the most significant sticking point when it comes to college access. Black households also tend to borrow more than households to finance a higher education. And because of historic racial and economic inequities, Black student loan borrowers struggle to repay their debt more than their white peers.

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Persons: it's, Cara McClellan, Biden, Bryan Cook, Cook, Elise Colin, Colin, McClellan, Wells Organizations: Racial, Civil Justice Clinic, University of Pennsylvania Carey Law School, Finance, Urban Institute, Urban, University of California, University of Michigan, Federal Student Aid Locations: Wells Fargo