A college degree has long been thought to improve the wealth prospects of those who hold them. However, recent research suggests that may be true for some people, but not for everyone.
In this video, William Emmons discusses how the median wealth of white and Asians with college degrees has nearly doubled in real terms from 1992 to 2013, yet the median wealth of blacks and Hispanics with college degrees actually fell during that period.
Emmons is an assistant vice president and economist with the St. Louis Fed and the lead economist with the St. Louis Fed’s Center for Household Financial Stability. This video was taken from a recent Dialogue with the Fed presentation. To see the rest of the presentation, visit “Does College Level the Playing Field?”