Going To College Didn't Shield Black And Hispanic Families From Financial Ruin

The net worth of college educated Hispanic families fell 72% from 2007 and 2013. Educated black families lost 60% in the same period.

Charles Dharapak / AP

A new study by the Federal Reserve Bank of St. Louis highlights how college degrees didn't shelter black and Hispanic families from the devastating effects of the financial crisis.

The vast majority of American families, with and without college educations, experienced drops in net worth caused by the collapse of the housing market and the financial turmoil that followed. But black and Hispanic households led by people with four-year college degrees were the hardest hit.

For white families headed by someone with a college degree, median wealth declined 16% in the same period, while for college-educated Asian families, wealth went up 5%.

St. Louis Fed / Via stlouisfed.org

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