The average amount of student loan debt in the United States is over $40,000, which has many students wondering if higher education is really worth it. The average African American bachelor's degree holder has $52,000 in student debt.
According to recent data from OnlineU, a higher education resource for aspiring students, there are several Historically Black Colleges and Universities where alumni see higher median salaries than other Black graduates in the same state.
Some HBCUs have lower tuition rates than other four-year institutions because of their rich culture, historic significance and family-like campus community. HBCUs can often help their students with college costs through grants, scholarships, and other financial aid resources.
The highest financial payoff for Black graduates was found by OnlineU. The median salary for XULA graduates is over fifty thousand dollars more than the median salary for other Black graduates with the same level of education in Louisiana.
The salaries of Black students are influenced by market disparity and regional differences.
The author said that comparing median earnings at HBCUs to other Black graduates in the state helps to highlight the value each college provides to the communities they serve, and also accounts for racial inequalities in the labor market that negatively impact salaries for Black college graduates.
The top 10 HBCUs have the highest payoff for black students.
New Orleans, Louisiana.
The median salary was $52,582.
The median salary for other Black grads was $36,962.
The financial payoff was$15,619.
Atlanta, Georgia.
The median salary was $49,625.
Other Black grads have a median salary of $40,000.
The financial payoff was $9,279.
The city of Hampton, Virginia.
The median salary was $47,197.
Other Black grads have a median salary of $43,180.
The financial payoff was $4,016.
Atlanta, Georgia.
The median salary was $44,135.
Other Black grads have a median salary of $40,000.
The financial payoff was $3,789.
Tallahassee, Florida.
The median salary was $39,700.
Black graduates have a median salary of $36,074.
The financial payoff was $3,626.
Nashville, Tennessee.
The median salary was $37,272.
Black graduates have a median salary of $34,039.
The financial payoff was $3,232.
Nashville, Tennessee.
The median salary was $36,955.
Black graduates have a median salary of $34,039.
The financial payoff was $2,916.
The city of Tuskegee, Alabama.
The median salary was $37,483.
Black graduates have a median salary of $36,003.
The financial payoff was $1,480.
Alcorn, Mississippi is located in Mississippi.
The median salary was $32,837.
Black graduates have a median salary of $32,385.
The financial payoff was $462.
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