Black millennials thought college would help them get ahead. Instead, it is setting them back.

The median net worth of households with Black college graduates in their 30s has plunged over the past three decades to less than one-tenth the net worth of their white counterparts, according to a Wall Street Journal analysis of Federal Reserve data. The drop is driven by skyrocketing student debt and sluggish income growth, which combine to make it difficult to build savings or buy a home. Now, the generation that hoped to close the racial wealth gap is finding it is only growing wider.

More than 84% of college-educated Black households in their 30s have student debt, up from 35% three decades ago, when many baby boomers were at the same age. The younger generation owes a median of $44,000, up from less than $6,000. By comparison, 53% of white college-educated households in their 30s have debt, up from 27% three decades earlier. The median amount rose to $35,000 from $8,000. All figures are adjusted for inflation.

Biden Hater’s Banners That Town Called Obscene Can Stay Up, Court Rules

A New Jersey woman can leave her banners as is after a ruling that the American Civil Liberties Union hailed as a victory for free speech.

khn.org
Pandemic Swells Medicaid Enrollment to 80 Million People, a
'High-Water Mark'
Phil Galewitz

The pandemic-caused recession and a federal requirement that states
keep Medicaid beneficiaries enrolled until the national emergency ends
swelled the pool of people in the program by more than 9 million over
the past year, according to a report released Thursday.

The latest figures show Medicaid enrollment grew from 71.3 million in
February 2020, when the pandemic was beginning in the U.S., to 80.5
million in January, according to a KFF analysis of federal data. (KHN
is an editorially independent program of KFF.)

That's up from about 56 million in 2013, just before many states
expanded Medicaid under the Affordable Care Act. And it's double the
40 million enrolled in 2001.

Medicaid, once considered the ugly duckling compared with the
politically powerful and popular Medicare program, now covers nearly 1
in 4 Americans. In New Mexico, the ratio is more than 1 in 3.

Together, Medicaid and Medicare cover 43% of Americans.