HBCU Alumni Outperform Other Black Students While Generating $14.8 Billion In Economic Impact

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By CultureBanx Team

  • New Orleans Xavier University median salary for graduates is $52,582 compared to the $36,962 median salary for other Black graduates in the state
  • HBCU graduates earn an additional $927,000 over their lifetime

There are several Historically Black Colleges and Universities (HBCUs) where alumni see higher median salaries than other Black graduates in the same state. The benefits of attending an HBCU are abundant, as these havens for intellectuals of melanin to congregate in higher learning and self pride actually generate $14.8 billion in economic impact annually. Let’s get into the alumni of 10 HBCUs who tend to earn more than other Black graduates in their state, according to data from OnlineU.

Why This Matters: Money spent in, around, and by the nation’s HBCUs along with their students drives economic growth both on and off campus. For every one dollar spent by HBCUs and their students, $1.44 is generated for local and regional economies and their graduates earn an additional $927,000 over their lifetime because of their credentials.  

There are HBCUs where alumni see higher median salaries than other Black graduates in the state. “Some HBCUs have significantly lower tuition rates than other four-year institutions,” according to the report. Information from OnlineU helps paint a clearer picture of who is attaining an education at certain HBCUs, and whether or not their degree was worth the financial burden of tuition as Black college compared to the counterparts at Primarily White Institutions (PWI).

Most HBCUs are located in southern states where median earnings are lower overall.  At the top of OnlineU’s list of HBCUs with the greatest pay off is New Orleans Xavier University. The median salary for graduates from Xavier is $52,582 compared to the $36,962 median salary for other Black graduates with the same level of education in Louisiana, representing a whopping $15,619 difference.

Coming in at number two on the list is Spelman College, an all-women’s school in Atlanta. The earnings from Spelman grads is $9,000 above the Georgia median for Black graduates and $8,000 above what other women with the same degree earn in the state, according to the report.

Rounding out the top three is Hampton University, where alumnae earn a median of $47,197, compared to the state of Virginia’s median salary of $43,180. It also has a higher completion rate than many other schools at 58% and Business majors also tend to earn higher median salaries compared to graduates from other colleges.

These are the top 10 HBCUs with the highest payoff for black students:

Situational Awareness: HBCUs continue to serve as economic engines and generators of Black wealth. With a greater share of low-income students, HBCUs have more students with unmet financial needs, 80% graduate with student loan debt. Alleviating the strain of a student loan for an enthusiastic college graduate can help elevate the black community through capital collective strength and generational wealth.

CBx Vibe:Schoolin’ Life” Beyoncé

CONTRIBUTOR

CultureBanx Team

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