Black People : From 1992 to 2013, the Median Net Worth of Blacks Who Finished College Dropped Nearly 56%

Discussion in 'Black People Open Forum' started by RAPTOR, Aug 18, 2015.

  1. RAPTOR

    RAPTOR Well-Known Member MEMBER

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    Economists emphasize that college-educated blacks and Hispanics over all earn significantly more
    and are in a better position to accumulate wealth than blacks and Hispanics who do not get degrees.
    Graduates’ median family income in 2013 was at least twice as high, and their median family
    wealth (which includes resources like a home, car and retirement account) was 3.5 to 4 times
    greater than that of nongraduates. But while these college grads had more assets, they suffered
    disproportionately during periods of financial trouble.

    From 1992 to 2013, the median net worth of blacks who finished college dropped
    nearly 56 percent (adjusted for inflation). By comparison, the median net worth of
    whites with college degrees rose about 86 percent over the same period, which
    included three recessions
    — including the severe downturn of 2007 through 2009, with its
    devastating effect on home prices in many parts of the country. Asian graduates did even better,
    gaining nearly 90 percent.

    http://breakingbrown.com/2015/08/from-1992-to-2013-the-median-net-worth-of-blacks-
    who-finished-college-dropped-nearly-56/
     
  2. AACOOLDRE

    AACOOLDRE Well-Known Member MEMBER

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    Whites who drop out of High school do better than Black college graduates
    Whites who get out of prison do better than Black college graduates

    College for black and brown is a rackett to get them in Debt so that they can seize their Tax returns for 20 plus years
     
  3. jamesfrmphilly

    jamesfrmphilly going above and beyond PREMIUM MEMBER

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    a degree is important. however it does not help when we cannot get a mortgage loan at the bank.
     
  4. MissH

    MissH Member MEMBER

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    Fact is if you're black with a degree you're going to be better off than being black without a degree. As far as debt goes people need to apply some common sense. I could have gone to a private college for 4 years at a cost of $25K per year plus another $15K per year in accommodation plus at least $60K in lost earnings for those 4 years; total cost almost a quarter of a million dollars! Or as I did I could get a part time job and head off to community college part time to get an AAS for a total cost of under $4K. When I finally graduate I should have zero debt; the piece of mind from that I wouldn't exchange for a fancier diploma with debts I'm still going to be paying off as I wave my own grandchildren off to college.
     
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  5. IFE

    IFE Well-Known Member MEMBER

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    In part, I think it could be financial management. I kinda believe too many Blacks are not vested in the value of good credit. Good credit goes a long way in the financial crisis. Asset diversification? Requires assets.
     
  6. Khasm13

    Khasm13 STAFF STAFF

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    This is what i did and am now renting out the house...by having the house be in a good school district i was able to get an additional 3 to 4 hundred dollars a month in rent...

    One love
    Khasm
     
  7. Khasm13

    Khasm13 STAFF STAFF

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    Black folks on average have to jump through more hoops to get loans than any other race...this is set up by design and is one of the founding principles of this empire...

    One love
    Khasm
     
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