A College Education Can Protect Wealth In hard Times, Unless You’re Black

The black unemployment rate, for example, has consistently been twice as high as the rate for whites, even among college graduates. “Compared to their less-educated counterparts, typical white and Asian families with four-year college degrees withstood the recent recession much better and have accumulated much more wealth over the longer term”. The median annual family income for blacks and Hispanics with four-year degrees was $52,150 and $68,400, respectively, compared to $26,600 and $30,450 for those who didn’t finish college, according to the St. Louis Fed report. Asian college graduates saw their median net worth go up 5.1 percent, by […]