Earning a college degree has long been considered—one of the major keys in achieving the American Dream. However, contrary to popular belief, that theory has been proven invalid. According to a recent study from the Federal Reserve Bank of St. Louis (FRBOSL), “Education does not help black and Hispanic college graduates protect their wealth the same way that it does for their white and Asian counterparts.”
But why is that? Why is there even a financial disparity between white/Asian and black/Latino college graduates? And why are black/Latino college graduates earning significantly less than blacks and Hispanics without a college degree. The answer might not surprise you, but it will reinforce the main reason why black and Latino college graduates
Minorities do worry about the cost of higher education, but they understand this is a vestment in their children’s future. “Solid majorities of Hispanics, Asian-Americas, and to a slightly lesser extent, African-Americans all agreed that ‘young people today need a four-year college degree in order to be successful’ Most minority families understands that education is the key to fulfilling the American Dream that each generation will live better than he generation before them” (Brownstein pg. 1). Twenty years ago you could graduate from high school, find an entry level position and in time with work experience, you could work your way up to a higher paying positions without needing a college degree. Now days that is not the case, most entry level positions require some type of trade certification or an associated degree. So what has changed in the last twenty years? Employers want their employees to have a college degree and the way we are encouraging and prepare our teens for
Daniel Santos, a retired military officer, “The US government provides many opportunities for citizens to further themselves” says Daniel Santos, a retired military officer. US benefit programs have allowed Daniel and his family to have a stable home with health care, as well as numerous educational opportunities. He has passed on his strong educational values, knowing that higher education is essential for success. “Between 1971 and 1992, the number of Hispanic college students rose from 47% to 70%, and just last year there was a 24% increase in the number of Hispanics enrolled in college” reveals the Bureau of Labor Statistics. Before the 1970’s a majority of Hispanics and other minorities were uneducated. Progress to improve this has been made with scholarships and programs sponsored by colleges and the US government. Within the 20th century, the percentage of educated Hispanics has increased and surpassed the perception of minorities. Conclusively the 20th century education progress has transformed modern-day
The results from this study show that students from low income households have a significantly lower chance of receiving a bachelor degree than those coming from higher income households, which one could probably assume. Even the students that preformed at the top of their class in eighth grade, but lived in low income households had less than thirty-three percent chance of completing college (Roy). This astonishing fact proves that even the highest achieving students still do not have a guarantee of receiving a college education, if their parents have no way to afford it. Another study, conducted by the National Student Clearninghouse Research Center, tracked two million, three hundred thousand people from high school into college to track their performance while in college based on where they attended college. They found that low income students from lower income high schools tended to wait a couple years before enrolling in college while high income students attending higher income high schools enrolled in college the fall semester after graduating high school. Out of these participants, twenty-two thousand, one hundred eight students continued their education into college, and eighty-one percent of these college students successfully completed at least their second year of schooling (Sparks ).
Along with the excitement and anticipation that come with heading off to college, freshmen often find questions of belonging lurking in the background: Am I going to make friends? Are people going to respect me? Will I fit in?
On average 86% of Americans believe that college was ultimately a “good investment” and that it set the bar for their annual earnings. Those adults who graduated from a four-year school thought that they earned an annual wage of $20,000 more than the wage of an individual who didn’t graduate from such a facility. This estimation was precisely accurate with the actual statistical findings according to the U.S. Census Bureau. (“Is College Worth It?”) Post-secondary education offers a greater financial status in the lives of those who dare to gamble with the odds and invest their time and effort into a reward of a lifetime. This educational wealth offers a gateway into a life that cannot be conjured up by any high school graduate but by a collegiate alumnus, a life that is ultimately happier and stress-free. While other high school graduates often hide and run in the face of this decision the few that stay will be rewarded a life of
The financial worth of college derives from the intellective objective that leads to innovating provisions to society. Attainments obtained from a college education ignite prosperity within the individual generating growth within a community due to their inputted contributions. The prospective of college affects one’s lifetime through a wide range of outcomes, not only through earnings (Pew Social). Recent studies have
In the United States, obtaining a higher education is more important than ever. The income gap between a family of college graduates and a family of high school graduates grew 30,000 dollars in just three decades (Porter). Institutions of higher education are engines of upward mobility that is not afforded to the entire population. American society is still plagued with racial disparities; however, they are no longer the main divider separating Americans. Today, the most imminent danger to the American dream is socioeconomic status (SES). The Organisation for Economic Co-operation and Development (OECD), an intergovernmental economic organization, found that when it comes to academic achievement, SES has more influence in the United States
White students represent 75% of the students at the top 468 colleges in the country even though they are only 62% of the country’s college-age population (Fletcher, 2013). On the other hand 67% of black students and 75% of Latino students attend open-access colleges. Black and Latino students make up 37% of students at open access schools but only 15% of students at the nation’s top colleges while making up 33% of the country’s college age population (Fletcher,2013). Although black and Latino students are attending college at higher rates, they are not given the tools necessary to graduate and succeed at the same rates as their white counterparts. 30% of black and Latino students with an A averages in high school end up in community colleges, as compared with 22% of white students (Fletcher, 2013). Anthony Carnevale explains this phenomena saying, “The higher-education system is colorblind in theory but in fact operates, at least in part, as a systematic barrier to opportunity for many blacks and Hispanics, many of whom are college-qualified but tracked into overcrowded and under-funded colleges, where they are less likely to develop fully or to graduate (Fletcher, 2013).” Carnevale further explains that the issue is not particularly with the students but the system that does not support them. Michael Dannenberg, director of higher education and education finance policy at the Education Trust, noted “What individual colleges do often can make all the difference in the world between a student graduating or leaving with a pile of debt and no degree. Demography is not destiny, and what colleges do matters (Roach,
The benefits of postsecondary degree attainment have grown sizably in the U.S. labor market. Indeed obtaining a college degree has been proven to be the surest way for young people to achieve upward socio-economic mobility especially for those individuals from economically disadvantaged backgrounds (Issacs, 2007). The incentives therefore, for greater postsecondary degree attainment amongst young people, especially the economically disadvantaged, are compelling.
Author Anne-Marie Nunez, examined and researched how students who work while attending college can influence learning in different domains. The article focuses on how higher education could expand opportunity structures from Latino, first-generation, or other historically marginalized groups to improve their socioeconomic status and increase societal equality. “Compared with other racial/ethnic groups, Latino college students are most likely to report concerns that their financial situation will adversely affect their ability to complete their postsecondary degrees (Longerbeam, Sedlacek, & Alatorre, 2004).” (Pg, 92) I believe this article is a perfect example of the population at FIU and the impact it has on higher education. In this critique, I will be discussing what I believe the research should have focused on, the points I agreed with and disagreed with as well as what points could have been touched on.
According to the Bureau of Labor Statistics, people who have earned Doctoral degrees statistically have the lowest rate of unemployment at 2.2%, and the highest median weekly earning of $1,623, whereas people with less than high school diplomas have the highest rate of unemployment, 11%, and the lowest median income at $472 (Education Still Pays: 2014). Clearly, higher education will, statistically speaking, correlate to a higher socioeconomic status and greater probability at achieving the “American Dream.” However, given the disproportionate demographics of who attends college, the “American Dream” is further away for some more than
It seems to be the case that racial groups are not equally qualified for jobs, because further education is a major qualification for a job and it is not currently the case that different racial groups are equally prepared for further education after high-school. According to a study by Rachel E. Durham and the Baltimore Education Research Consortium “The average person with a bachelor's degree earns almost twice as much as a high school graduate and nearly triple that of someone who did not finish high school. The unemployment rate for people with bachelor's degrees is about one-third that for non-high school graduates and one-half that of high school graduates” (Durham). Therefore, it seems to be the case that if someone is accepted into a college, can pay for college, and can pass all of their college classes, then, in most cases, that person has, or will have a college degree and therefore a major qualification for a job. This major qualification for a job can allow its recipient to have access higher paying jobs and to have a lower rate of
A white person is also more likely to attend college, earn a degree and own their own homes than there African-American and Hispanic counterparts. The findings concluded that race and class are related and the lack of knowledge means less fortune. Although African Americans adults have narrowed the gap between white adults when it comes to graduating high school, on the other hand the gap is much wider for obtaining college degrees. Studies show that over 30% of white adults had earned a bachelor’s degree in 2005, at the same time only 17 percent of black adults and 12 percent of Hispanic adults earned degrees. Asian- American topped all three races; almost fifty-percent of them had at least a bachelor’s degree in 2005. The median income for white households was a little over $50,000 last year, for African-Americans the households income it was $30,939, $36,278 for Hispanic and $60,367 for Asian households. The results show that white households tend to make 50 percent more than their African-American Counterparts. In dollar terms, the gap has grown from $18,123 to $19,683. Hispanic households made about 76 percent as much as white households in 1980. And in 2005, it was 72 percent. Even though the gap in poverty still exists it has diminished a little since the 80’s. The poverty rate for white was 8.3 percent on
Throughout this article it explains how college is a very important aspect of many people 's futures and why it is so crucial to attend if you want to be successful and have a more secure financial future. They state that “(The earnings gap between young adults) a sign of the growing value of a college education despite rising tuition costs” one of the major reasons why people fight against the value of college is the tuition costs. But over a lifetime is 100 thousand dollars worth the extra money that you will make yearly and the financial security? Pews vice president, Paul Taylor claims that "In today 's knowledge-based economy, the only thing more expensive than getting a college education is not getting one," just one of the many successful individuals who agree that college is worthwhile. This article also explains that on average college graduate generally make $17500 more than a high school graduate. Also later explaining how the earnings of high school graduates has decreased by $3000 yearly. These college graduates higher incomes alleviate the amount of college educated individuals relying on government programs. In an article by Jamie P. Marisotis, the president and CEO of the Lumina foundation, claims that “those who have attended college participate in government assistance programs at substantially lower rates than do high school graduates or those who have not graduated from high school.” showing the increasingly large importance of getting a
Becoming a successful individual in today’s society is difficult, and without a college education it becoming even harder. A college degree is necessary for a lot of important jobs; such as a lawyer, a doctor or any occupation in the medical field really, a teacher, and so many more that are imperative to everyone. Without doctors to treat us when we are sick and teachers to prepare the youth for the world, we would be a broken society. Well, with “education inflation [rising over] 5.2%” every year tuition for college is becoming ridiculously expensive, and there are changes that need to be made to accommodate the wide range of middle class students that are financially suffering to earn an adequate college education (Patton, 2015).