“Racism is the child of economic profiteering, not the father.” Ta-Nehisi Coates
Why Start Here?
Objective
Statement of Purpose
Summary
Conclusion
ABOUT
support@noblackstudentdebt.com
︎ ︎
Zero Black American Wealth in Three Decades :
The Institute for Policy Studies (IPS) warned in their 2017 report “The Road to Zero Wealth”,
“If the racial wealth divide is left unaddressed and is not exacerbated further over the next eight years, median Black household wealth is on a path to hit zero by 2053. In sharp contrast, median White household wealth would climb to $137,000 by 2053 and $147,000 by 2073.”
Before COVID-19’s disproportionate health and economic effects on Black Americans, the Pew Research Center released a report that emphasized the stark economic reality of the racial wealth gap. “In terms of their median net worth, White households are about 13x as wealthy as Black households – a gap that has grown wider since the Great Recession.”
The typical Black family whose head-of-household has a college diploma has less wealth than a white family whose dominant earner did not finish high school.
The Cost of Education :
The gap between four-year degree attainment between Black and White students is greater today than it was when the Higher Education Act was passed in 1965.
Since 1980, the average cost of four-year public college is up 1,200%, and 900% for private college, while inflation measured by the Consumer Price Index has risen by 236%.
Milennial Wealth Disparity :
The typical White millennial family has approx. $88,000 in wealth. The typical Black millennial family has approx. $5,000 in wealth.
White millennial wealth trails previous generations of White Americans by 5%, where Black millennial wealth trails previous generations of Black Americans by 52%.
Targeted Universalism :
If equity is the goal, then universal approaches alone are insufficient and can exacerbate current divides.
NBSD is a targeted strategy to shrink the widening racial wealth gap.
Our past is predetermined. Our future is not.
American history is not only one of suffering and injustice,
it’s also a history of profound transformation,
the blending of cultures that would forever change the world.
it’s also a history of profound transformation,
the blending of cultures that would forever change the world.
Without material intervention, or policy realizing the racial differences and the unique historic circumstances of Black Americans in context of wealth, Black Americans will face even steeper debt burdens to pursue education.
Race-blind or race-neutral education costs extracts finite financial resources from Black Americans, who have less wealth as evidenced by documentation in previous chapters. The effect of enormous education costs on a severely wealth-deprived communityhas left Black Americans spiraling downward in a cycle of disparities.
Chapter 05 : The New York University Case Study
See how NYU can afford to ensure that every Black NYU student begins their career with no student debt.
![]()
Race-blind or race-neutral education costs extracts finite financial resources from Black Americans, who have less wealth as evidenced by documentation in previous chapters. The effect of enormous education costs on a severely wealth-deprived communityhas left Black Americans spiraling downward in a cycle of disparities.
Chapter 05 : The New York University Case Study
See how NYU can afford to ensure that every Black NYU student begins their career with no student debt.
