Earning a college degree is supposed to be a pathway to higher wages, greater wealth and protection from economic shocks. But for millions of African American and Hispanic graduates, higher education has failed to serve as a buffer against financial crises.
A new study from the Federal Reserve Bank of St. Louis found that while college-educated African Americans and Hispanics had more assets than those without degrees, grads typically fared worse in the face of financial turmoil.
College graduation and home ownership rates among both of those minority groups have soared during the past two decades, delivering more African American and Hispanic families into the middle class. Yet a crippling economic recession erased much of those gains for many families, who remain mired in debt and struggling to reverse the devastation. READ MORE AT WASHINGTON POST
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