But new research is showing that getting another degree or a higher paying job may do less than believed to make good on the American Dream for families of color.
Black Americans with college degrees have less in savings and other assets than white Americans who dropped out of high school. According to a recent calculation of 2011 figures by a group of academics, the median household headed by a black college graduate had about two thirds of the net worth of the median white household headed by someone who did not finish high school.
"The data shows that a job or an education are not the panaceas we think they are," says Darrick Hamilton, PhD, a New School economist. Hamilton produced the figures, which will be released in a forthcoming report, using Census Department data, along with Duke University's William Darity, Jr, PhD, and Rebecca Tippett, PhD, of University of North Carolina. Other research has shown similar wealth disparities between white and Latino families.
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