AAF Preview: Black Enterprise and Prudential Want You to Get Out of Debt

Prudential and Black Enterprise are joining forces to bring attendees at this year’s African American Festival perspective, planning, and best practices when it comes to taking control of their debt levels.

[Related: 2015 African American Festival to Take Place in Baltimore]

BlackEnterprise’s Senior Personal Finance Editor Stacey Tisdale will moderate a panel titled “The Impact of Debt on the African American Community,” Saturday, June 20 from 3:00pm  — 3:45pm.  The panel features,  The Hon. Joan M. Pratt, Baltimore City Comptroller; Dr. Deforest Soaries Jr., author of dfree: Breaking Free from Financial Slavery; and Khalilah Harris, Deputy Director at the White House Initiative on Educational Excellence for African Americans.

The panel will take place at the Black Enterprise Empowerment Zone tent.

Among the topics discussed …

Ways to reduce student loan debt:  This is an issue of significant importance to the black community considering that more than 40% of African American families have student loan debt.  African American families also carry more student loan debt than other groups: $10,295 on average compared with $8,020 for white families, according to the Urban Institute.

How to turn our improving economics into “debt-free” wealth: According to Nielsen research, blacks earning more than $75,000 a year are the fastest growing income group in the country, yet demos finds that more than 40% of black households are borrowing to make ends meet.

How to improve economic circumstances for those in urban communities: Research shows that urban economic circumstances are directly correlated to rioting and violence in those communities.

Please join us for this thought provoking, insightful, and empowering discussion so you can get your financial house in order.