Higher Ed. Doesn’t Close Racial Gap

A new study released Monday shows that post-high school education for blacks and Hispanics does not close the wage gap between them and white and Asian peers. “Higher education alone cannot level the playing field,” the report by the Federal Reserve Bank of St. Louis said, though college-educated blacks and Hispanics earn twice as much as their non-college educated peers. The report also found that college-educated blacks and Hispanics suffered disproportionately during the Great Recession because more of their wealth was locked into real estate, whose value crashed and hasn't fully recovered, rather than stocks and bonds for whites and Asians.