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twin_ghost

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Member since: Sat Jan 2, 2021, 02:24 PM
Number of posts: 428

Journal Archives

Nena Live 99 LuftBallons (Red Ballons)

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College Was Supposed to Close the Wealth Gap for Black Americans. The Opposite Happened. (WSJ)

Black millennials thought college would help them get ahead. Instead, it is setting them back.

The median net worth of households with Black college graduates in their 30s has plunged over the past three decades to less than one-tenth the net worth of their white counterparts, according to a Wall Street Journal analysis of Federal Reserve data. The drop is driven by skyrocketing student debt and sluggish income growth, which combine to make it difficult to build savings or buy a home. Now, the generation that hoped to close the racial wealth gap is finding it is only growing wider.

More than 84% of college-educated Black households in their 30s have student debt, up from 35% three decades ago, when many baby boomers were at the same age. The younger generation owes a median of $44,000, up from less than $6,000. By comparison, 53% of white college-educated households in their 30s have debt, up from 27% three decades earlier. The median amount rose to $35,000 from $8,000. All figures are adjusted for inflation.


https://www.wsj.com/articles/college-was-supposed-to-close-the-wealth-gap-for-black-americans-the-opposite-happened-11628328602

The complete article is behind a paywall.

'America' Music Video 'A Horse With No Name'

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The Rolling Stones - (I Can't Get No) Satisfaction (Live- Ireland 1965)

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Meatloaf Music Video I Would Do Anything for Love I would run into hell & back,

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