College doesn’t pay off for Black students

The latest evidence that college is not for everyone is seen in the median net worth of Black college graduates (“For Black Americans, College Hasn’t Closed the Wealth Gap,” The Wall Street Journal, Aug. 9).  Over the past three decades, it has dropped to less than one-tenth the net worth of their white counterparts.

College has long been sold as the best way for Blacks to amass wealth.  But the evidence shows that has not been the case. In fact, I question if a college degree results in a wage premium for most young people. So much depends on the college major.  When debt accrued for tuition, books etc. is taken into account, it actually doesn’t pencil out.

So many young people of all races would be far better served pursuing a vocational course of study, coupled with an apprenticeship.  They would be quickly hired and free of student debt.

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