BLACK children are now at the leading edge of the nation’s wealth school.
According to a new report released Thursday, the number of black students enrolled in the school is at a record high, while the number who graduated from the top 1% is nearly twice as high as the white population.
According a 2016 report from the Institute for College Access & Success, black students have the most advanced wealth of any race in the country.
More than 90% of the students who graduated in the top 5% of their family’s income are black, the report found.
The report found that black students graduated from more than 80% of elite private and public schools.
But while the share of black families earning at least $250,000 has increased from 20% in 2016 to 31% in 2018, the percentage of black graduating students has declined by nearly 50 percentage points since 2010.
“Our data shows that the wealth gap between white and black families is growing,” said Dr. Jayne Riggs, executive director of the Institute on Race and Economic Equity, a think tank focused on education.
In addition to their high college and high-school graduation rates, black Americans are more likely to have college degrees and higher earnings, while white students are less likely to earn degrees and earn lower incomes, the institute found.
The institute has called for the creation of a wealth school to combat inequality and wealth disparities.
To reach its goal, the Institute has launched the Blueprint for Black Success.
According to the Blueprint, the schools goal is to provide all black students with access to wealth, in-depth learning and career pathways that will help them thrive in today’s economy.
The Blueprint also includes creating more equitable scholarships, and the creation and support of high-achieving black students, it said.
Since its launch in March, the Blueprint has helped more than 4,000 black students in more than 50 cities across the country receive $100,000 in financial aid.
And the Blueprint will not be a one-size-fits-all approach, said Michelle Pomerantz, a partner at the law firm Jones Day, who is also the executive director at the Institute.
For example, she said, black people who receive scholarships are often denied housing and are not offered opportunities to access jobs, she noted.
Other steps the Institute is taking include providing financial aid to black students who earn less than $75,000 annually, and providing students with the ability to earn their degree without having to wait for the next wave of college graduates.
Among other initiatives, the new Blueprint includes increasing the number and diversity of students from minority groups.
While the institute has focused on improving the wealth of black people, there are still gaps in the data on wealth, according to Riggs.
She said the report is an important tool to highlight these gaps.
Still, she hopes that the Blueprint is a start to bringing more people of color into the wealth pipeline.
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