Despite higher education, a persistent racial and ethnic wealth gap
A new study finds that, despite being known as “the great equalizer” for economic mobility, a college degree rarely protects black and Hispanic graduates from an ever-present wealth gap. (NYT, 8/17)
“The long-term trend is shockingly clear,” said William R. Emmons, an economist at the Federal Reserve Bank of St. Louis and one of the authors of the report. “White and Asian college grads do much better than their counterparts without college, while college-grad Hispanics and blacks do much worse proportionately.”
There is not a simple answer to explain why a college degree has failed to help safeguard the assets of many minority families. Persistent discrimination and the types of training and jobs minorities get have played a role. Another central factor is the heavy debt many blacks and Hispanics accumulate to achieve middle-class status.
– The Chronicle of Philanthropy takes a look at how two major foundations – The Ford Foundation and the MacArthur Foundation – are taking very different new approaches to their grant making. (Chronicle, 8/17)
– Exponent Philanthropy explores some of the difficulties funders often encounter when honing in on a giving focus and ways they can work to break through the barriers. (Philanthrofiles, 8/17)
ARTS | Opinion: As the world of American ballet grows more diverse, one writer ponders why the audience for productions continues to be so homogeneous. (WaPo, 8/17)
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