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Why does nobody talk about how student loan algorithms flag first gen applicants
I always thought loan decisions were just about credit scores until a friend at a nonprofit in Baltimore showed me how automated systems flag applications with no cosigner as high risk, which hits first gen kids hardest. A 2023 study found these models reject about 30 percent more applicants from zip codes with median incomes under 40k even when credit histories match. Has anyone else seen this pattern in their own lending or financial aid data?
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