• Celebrity
    • Cardi B and Offset Cover
    • Celebrity News
    • ‘Yes, Girl!’ Podcast
    • Entertainment
    • Black Celeb Couples
    • Celebrity Moms
    • Red Carpet
  • Fashion
    • Digital Cover – Method Man
    • Digital Cover – Zazie Beetz
    • Fashion News
    • Fashion House 2021
    • Street Style
    • Accessories
    • Fashion Week
  • Beauty
    • Black Beauty Awards 2022
    • ESSENCE Hair Awards 2022
    • AVEENO® Skin Health Startup Accelerator
    • MAYBELLINE: FIT ME MATTE + PORELESS
    • Beauty News
    • Skin
    • Makeup
    • Nails
    • Girls United: Beautiful Possibilities
  • Hair
    • Hair News
    • Natural
    • Relaxed
    • Transitioning
    • Weaves
    • 4C
  • Love
    • Love & Sex
    • The Solve Podcast
    • Weddings
    • Parenting
    • Relationships
  • Lifestyle
    • Build Your Legacy
    • Prudential – Dream & Plan with Confidence
    • Black History Month
    • AMEX Platinum Travel
    • Holiday Gift Guide
    • Lifestyle News
    • Coronavirus: Everything You Need to Know
    • Health & Wellness
    • ESSENCE Eats
    • Money & Career
    • Entrepreneurship
    • Travel
    • Food & Drink
    • Black Travel Guide
    • Currency Conversations
  • News
    • Latest News
    • Raise Your Voice
    • Culture
    • Politics
  • Videos
  • Festival
  • Events
    • Road to Festival
    • 2022 Black Women In Hollywood
    • 2022 HOLLYWOOD HOUSE
    • Entrepreneur Summit 2021
    • Wellness House
    • VAX & VIBES Louisiana
    • Girls United Summit 2021
    • She Got Now
    • Fashion House 2021
    • GU Back To School
    • Dear Black Men
    • I Am Speaking
    • WELLNESS HOUSE: YEAR OF RENEWAL
    • Power Tools
    • Making Moves Now: Virtual Bootcamp
    • #EF SESSIONS
    • Cares Act
    • News & Announcements
  • Essence Studios
  • Girls United
  • Subscribe
  • Newsletters

WHERE BLACK WOMEN COME FIRST

Every day we're serving Black women deeply. Come get a plate of goodness! Sign up for daily content and exclusive offers you'll love!

Your email is required.
Your email is in invalid format.
Confirm email is required.
Email did not match.
By clicking Sign Up, you agree to our Terms of Use and that you have read our Privacy Policy
Skip to content
SUBSCRIBE
  • MAGAZINE
  • NEWSLETTER
  • Celebrity
    • Cardi B and Offset Cover
    • Celebrity News
    • ‘Yes, Girl!’ Podcast
    • Entertainment
    • Black Celeb Couples
    • Celebrity Moms
    • Red Carpet
  • Fashion
    • Digital Cover – Method Man
    • Digital Cover – Zazie Beetz
    • Fashion News
    • Fashion House 2021
    • Street Style
    • Accessories
    • Fashion Week
  • Beauty
    • Black Beauty Awards 2022
    • ESSENCE Hair Awards 2022
    • AVEENO® Skin Health Startup Accelerator
    • Beauty News
    • MAYBELLINE: FIT ME MATTE + PORELESS
    • Skin
    • Makeup
    • Nails
    • Girls United: Beautiful Possibilities
  • Hair
    • Hair News
    • Natural
    • Relaxed
    • Transitioning
    • Weaves
    • 4C
  • Love
    • Love & Sex News
    • The Solve Podcast
    • Weddings
    • Parenting
    • Relationships
  • Lifestyle
    • Build Your Legacy
    • Prudential – Dream & Plan with Confidence
    • Black History Month
    • AMEX Platinum Travel
    • Holiday Gift Guide
    • Lifestyle News
    • Coronavirus: Everything You Need to Know
    • Health & Wellness
    • ESSENCE Eats
    • Money & Career
    • Entrepreneurship
    • Travel
    • Food & Drink
    • Black Travel Guide
    • Currency Conversations
  • News
    • Latest News
    • Raise Your Voice
    • Culture
    • Politics
  • Videos
  • Festival
  • Events
    • Road to Festival
    • 2022 Black Women In Hollywood
    • 2022 HOLLYWOOD HOUSE
    • Entrepreneur Summit 2021
    • Wellness House
    • VAX & VIBES Louisiana
    • Girls United Summit 2021
    • She Got Now
    • Fashion House 2021
    • GU Back To School
    • Dear Black Men
    • I Am Speaking
    • WELLNESS HOUSE: YEAR OF RENEWAL
    • Power Tools
    • Making Moves Now: Virtual Bootcamp
    • #EF SESSIONS
    • Cares Act
    • News & Announcements
  • Studios
  • Girls United
Home · 2019 ESSENCE Festival

HBCUs Could Be The Answer To Closing The Nation's Economic Divide

By Tanya A. Christian · Updated July 6, 2019
Joy-Ann Reid, Richard Lawson, Yesha Callahan, and Dr. Walter Kimbrough took to the Essence Fest Power Stage to discuss ways Black children can get ahead.

In the United States, predominantly white school districts receive $23 billion more in funding than non-white schools, according to an EdBuild report. That financial disparity contributes greatly to the nation’s economic divide, leaving the Black community in search of educational opportunities that will help youth better compete with their White counterparts.

On Friday, actor Richard Lawson, MSNBC host Joy-Ann Reid and Dillard University’s Dr. Walter Kimbrough joined ESSENCE News and Politics Director, Yesha Callahan on stage at Essence Festival to discuss the disparities in more detail. Not surprising, HBCUs and community colleges were named as a possible way forward for the Black community.

NEW ORLEANS, LOUISIANA – JULY 05: Joy-Ann Reid speaks on stage at 2019 ESSENCE Festival Presented By Coca-Cola at Ernest N. Morial Convention Center on July 05, 2019 in New Orleans, Louisiana. (Photo by Paras Griffin/Getty Images for ESSENCE)

“The reality is that if you looked at the amount of money that Black people pour into this system we would be the 15th largest country in the world. So that tells us that we have a buying power,” Lawson said of the economic wealth in Black communities. “So hopefully in some way, if there is some kind of think tank, some kind of group of educators and then venture capitalists who can direct the money that we make and power that we have towards Black children, a great difference can be made.”

For many Black students, wealth is a determining factor for attending an institution of higher learning. It’s why Joy-Ann Reid says that college can be “a complicated issue.” Though a four-year institution helps Black graduates get ahead in the workforce, student loans after a 12-year period prove that it can also contribute to our overall wealth. Kimbrough noted that White men pay off 44 percent of their college loan within the first 12 years of graduating. In that time, Black women’s loans have increased by 13 percent.

The numbers alone prompted Callahan to assert that community colleges should be considered when making the decision to go to school. Some states offer free tuition for local students. Often they give them the necessary foundation without the burden of debt. As she put it, they give “the same bang for your buck.”

NEW ORLEANS, LOUISIANA – JULY 05: Yesha Callahan speaks on stage at 2019 ESSENCE Festival Presented By Coca-Cola at Ernest N. Morial Convention Center on July 05, 2019 in New Orleans, Louisiana. (Photo by Paras Griffin/Getty Images for ESSENCE)

If a traditional, four-year college is still on the table, Kimbrough believes that Black parents and their college-bound children should strongly consider HBCUs. He pointed to graduation rates, performance statistics, and Black students’ comfortability at institutions where their peers look like them and they are valued. “A brand name institution does not mean it’s better for your child,” he warned.

Regardless of the choice, Kimbrough advises that all parents should get a 529—a tax-advantaged savings plan designed to encourage saving for future education costs—for their kids “even if you just put a little bit in there.” Lawson also added that as a group we have to figure out how to take care of ourselves and put our attention into nurturing the next generation.

Share :
COMPANY INFORMATION
  • Our Company
  • Customer Service
  • Essence Ventures
  • Change Your Address
  • Contact Us
  • Job Opportunities
  • Internships
  • Media Kit
  • tag
SUBSCRIBE
  • Newsletters
  • Give a Gift of ESSENCE
  • Magazine Tablet Edition
FOLLOW US
MORE ON ESSENCE
  • Home
  • Love
  • Celebrity
  • Beauty
  • Hair
  • Fashion
  • ESSENCE festival

ESSENCE.com is part of ESSENCE Communications, Inc.

Essence may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.

©2022 ESSENCE Communications Inc. All Rights Reserved. | Privacy Policy | Terms of Use | Essence.com Advertising Terms

Get The ESSENCE Newsletter and
Special Offers delivered to your inbox

By clicking Sign Up, you agree to our Terms of Use and Privacy Policy.

Get The ESSENCE Magazine
by subscribing below
subscribe now