For some, obstacles still block the American dream

Seminar in lecture hall.

Seminar in lecture hall. Photo Credit: iStock A college degree has long been considered the holy grail of economic mobility. Getting one, the conventional wisdom says, puts you on the road to higher wages and greater wealth, and protects you from economic turbulence.

A degree also is viewed as the prime path across the economic chasm that divides minorities from whites. Like whites, highly educated blacks and Latinos do indeed have higher incomes and greater wealth than their peers who did not attend college.

It’s apparent there is a very big "but" here. A new study from the Federal Reserve Bank […]