Since You Got A Degree and Know Everything!

According to findings compiled in a study by the National Center For Education Statistics, Black women have been obtaining degrees at a consistently high rate for the last eight years and counting. Despite stereotypes about African Americans, Blacks in the US are among those most likely to earn a postsecondary degree.

Between 2009-2010, Black women accounted for 68 percent of associate’s degrees, 66 percent of bachelor’s degrees, 71 percent of master’s degrees, and 65 percent of doctorate degrees awarded to Black students during that time frame.

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Why is the pursuit of Degrees so important to Black Women?

Essence magazine reported that negative imagery of Black women appears twice as often as positive depictions. Images of the “welfare queen,” “baby mama,” and “angry Black woman,” among other images, shame working-class Black women’s struggles and reduce Black women’s complex humanity.

These depictions are not just hurtful; they have an impact on Black women’s lives and socioeconomic opportunities. To be clear, education is the gateway to wealth in America. This is a necessity for survival in a period of stagnating wages, and increasing reliance on Black women as caretakers for aging parents.

The Unfortunate Side Effect is DEBT

On average, women graduate owing almost $22,000 in student debt, while that number for men is $18,880. Black women graduate with an average of $37,558 in debt. Once Black women graduate, they’re likely to make less than their white counterparts. The median wage for Black women in the U.S. is $36,303 per year, compared to $57,005 annually for white, non-Hispanic men.

“The expense of that endeavor leads to being in an even deeper financial hole, especially if promotional opportunities do not come through,” said Tisa Silver Canady, Founder and Director of the Maryland Center for Collegiate Financial Wellness.

Unfortunately, this amount of social pressure better known as the superwoman complex doesn’t allow black women a space to fail.

The Griots with Degrees

If you are new here, The Financial Griot is a play on two words (Finance + Griot). Our aim is to turn a degree into financial mobility and ultimately financial freedom.

The goal is to help close the wealth gap. We hope that through conversations and shared stories, we grow and foster opportunities. Beyond that, we talk about money so you don’t have to be afraid to.

Can you imagine being a Millionaire in 20 years or less? Yeah, it’s possible. 80% of millionaires are the first generation. That means they didn’t come from wealth. We teach you how. Join a community of subscribers that welcome a fresh take on money.

Even though you have a degree and you know everything, we can all learn a bit more.

Find the TFG Crew Hosts on Instagram

Alainta Alcin – Blogger, Travel and Money Enthusiast @alainta_alcin
Lovely Merdelus – Entrepreneur and Small Business Growth Specialist @lovelymerdelus
Lawrence Delva-Gonzalez – Blogger and Millenial Millionaire @theneighborhoodfinanceguy