August 13, 2012

More Black Women Going Bankrupt [Report]

Three studies released this year continue to show the dire financial state many African American women are finding themselves in.

A study earlier this year showed that blacks are eroding their retirement savings at a rate quicker than others.

Another study found that the single median wealth income of black women is $100 compared to that of single white women which is $41,000.

Other research shows that more and more Black women are filing bankrupcty, and defaulting on student loans – which has an overall default rate of about 15% now for for-profit colleges, according to the U.S. Dept of Education.