A brief released Monday in the journal Education Researcher finds that racial differences in student borrowing have diverged over the past two decades. Since 2000, Hispanic students have been less likely and black students more likely to borrow than white students, the brief finds.

The co-authors of the brief concluded that the evidence black students are more likely to borrow and borrow more in student loans means the structure of the financial aid system has a disproportionate impact on those students before and after college.