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But why won’t employer-assisted student loan payment help these grads? There is still not much data that could tell us why that troubling gap exists, but The Atlantic article offered a few possible factors:

Some of it has to do with the fact that black borrowers have higher default rates, which may be partially tied to the fact that black college graduates earn less than white graduates. Separate studies have suggested that hiring managers are sometimes less likely to consider someone with a “black-sounding name,” and that black workers are paid less than white workers for the same job.

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But the biggest contributor could actually be grad school:

[Researchers] found that 45 percent of the black-white gap is a result of differences in borrowing for post-baccalaureate studies. While 40 percent of black college graduates pick up debt to pay for these courses, only 22 percent of white graduates do the same. One factor is that blacks with bachelor’s degrees are more likely to go to graduate school at all. Almost half of the 2008 cohort of black graduates the researchers studied enrolled in graduate school within four years, compared to just 38 percent of white graduates. But crucially, of the black graduates who continue their studies, 28 percent sign up at a for-profit school, compared to less than 10 percent of their white peers.

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Because more black graduates continue their studies after receiving their bachelor’s degree, and because they have a higher rate of attending predatory for-profit institutions, that puts them further in debt without actually advancing their employment options, and they’re more likely to accumulate a staggering amount of debt.

As the BuzzFeed article notes, having employers subsidize their employees’ debts doesn’t actually help mitigate the cost of college; nor does it help the students and grads who are struggling the most. It certainly doesn’t rein in predatory for-profit colleges—a task left in the hands of Education Secretary Betsy DeVos.

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In fact, having companies pay for their employees’ student loans could likely only benefit high-earning grads. And if Congress decides to make those employer contributions tax-exempt, as it has for 401(k) plans, that could create more inequality. As one source told BuzzFeed News, this is because taxpayers would end up shouldering the burden of paying off loan debts for grads who have landed the good, fairly high-earning jobs that can offer this package.

Fidelity’s plan, then, while encouraging, is a Band-Aid solution that does little to address the crisis, particularly for black graduates drowning in debt.

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Read more at BuzzFeed and The Atlantic.