Table 3.

OLS regression models predicting racial disparities in (logged) student debt by parents’ wealth

	Model 1	Model 2	Model 3	Model 4
Race (ref: non-Hispanic white)
Black	.386*	.235	.242	.212
	(.195)	(.181)	(.181)	(.178)
Other race	−.034	−.245	−.239	−.234
	(.231)	(.205)	(.205)	(.206)
Parents’ net worth ($10 k)	−.024***	−.036***	−.033***	−.028***
	(.005)	(.004)	(.004)	(.004)
Black* parents’ net worth	.035*	.027*	0.025*	.023+
	(.014)	(.013)	(0.013)	(.012)
Other race* parents’ net worth	.005	.009	.009	.007
	(0.01)	(.010)	(.010)	(.010)
Constant	−244.5*	−176.0*	−182.4*	−115.2
	(97.36)	(85.46)	(85.36)	(85.56)
Model covariates
Family background	Yes	Yes	Yes	Yes
Postsecondary characteristics	No	Yes	Yes	Yes
Family contribution	No	No	Yes	Yes
Young adult characteristics	No	No	No	Yes

Standard errors in parentheses. N = 5246. All models adjust for sex (1 = female), region, family structure at age 14, number of children in the parents’ household at baseline, urban/non-urban status, and year/age when assets and debts questions were answers

^***p < .001;

^**p < .01;

^*p < .05;

⁺p < .10