In the United States, the average amount of student loan debt is $39,591, a price tag that has many students asking if higher education is really worth it. This number is even higher for Black students, with the average African American bachelor’s degree holder having $52,000 in student debt.
Though Black students are increasingly questioning the value of college , there are several Historically Black Colleges and Universities (HBCUs) where alumni see higher median salaries than other Black graduates in the same state, according to recent data from OnlineU, a higher education resource for aspiring students.
Famous for their rich culture, historic significance and family-like campus community, some HBCUs have significantly lower tuition rates than other four-year institutions. Through grants, scholarships, and other financial aid resources, HBCUs are often able to better help their students with college costs.
OnlineU identified that Xavier University, in New Orleans, Louisiana, offers the highest financial payoff for Black graduates. The median salary for XULA graduates is $52,582 compared to the $36,962 median salary for other Black graduates with the same level of education in Louisiana, a $15,619 difference.
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