How HBCUs can accelerate Black economic mobility
From McKinsey: “HBCUs confer 17 percent of all bachelor’s degrees awarded to Black students in the United States, have boosted their students into higher-income quintiles and into prominent political positions, and continue to be key sources of talent. And they are doing all of this with endowments that are seven times smaller, on average, than those of non-HBCUs. …our data show that a strong HBCU network could increase Black worker incomes by around $10 billion in addition to strengthening the economy with $1.2 billion in incremental business profit, $300 million in decreased student-loan debt, and $1 billion in additional consumer expenditures.”
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