This report shows the problem.
Following is an excerpt from Women, Race & Wealth – Research Brief Series, Vol.1, Jan. 2017, published by: Khaing Zaw, Jhumpa Bhattacharya, Anne Price, Darrick Hamilton, and William Darity, Jr of the Samuel DuBois Cook Center on Social Equity and Insight Center for Community Economic Development.
“…The story of the American Dream proclaims that opportunities for economic success are open to anyone with pure grit, gumption, and merit regardless of race. A college education is viewed as a key driver of upward mobility and the primary vehicle to eradicate racial differences in economic success. In reality, while a college degree may result in some improvement in life outcomes, it does little to undo the massive differences in wealth across race.