New study shows HUGE disparity between white, minority women

A recent study out of the Insight Center for Community Economic Development shows tremendous wealth inequality among women of different races. Among the findings reported by Democracy Now, the report shows about half of all single black and Hispanic women have debt that exceeds their assets. Thus, they have zero or negative wealth.

Wealth, as defined by the authors of the report, refers to the value of your assets--money held in checking or savings, retirement benefits, real estate--after subtracting debts and liabilities like mortgage and loans. Separate from income, wealth can be said to indicate your long-term financial security.

The most shocking finding, however, is in the comparison of minority women to white women:

The median wealth for single white women is just over $41,000. The median wealth for single Hispanic women is $120, and the median wealth for single black women is $100.

This data is a staggering reminder of the legacy of inequality that continues to this day. The Insight Center points out that wealth can be passed down through generations, and this surely accounts for much of the wealth disparity by race. Policies intended to keep minorities below whites in terms of political, economic and social power have stifled the voices and progress of countless minorities. Residential segregation has kept minorities out of areas with good schools, good jobs and opportunities for growth, a phenomenon referred to as spatial mismatch. The racialization of welfare (think "Cadillac-driving welfare queens") has been followed by reduced support for welfare programs (think Reaganomics and trickle-down theory).

We have outlawed segregation, but many of these roadblocks still exist today. Gerrymandering, or drawing residential boundaries based on demographics of the area, is still allowed, and white flight is alive and well, with many professional jobs following suburb-bound whites. Racial stereotypes persist, both at work and in society, resulting in many minorities' internalization of inferiority.

In short, black and Hispanic women's lack of wealth is the product of history. Rather than a failure to spend responsibly or save diligently, their lack of wealth is a product of generations of hardship and racial prejudice. While white women have had a chance to build wealth and pass their assets onto their children, minority women have struggled against government and social policy to survive.

This report shows that those who extol racial equality speak too soon. Furthermore, and perhaps most importantly, this report underscores the need for action. The Huffington Post lists some of the solutions offered by the Insight Center, but none of these address the legacy of inequality behind the wealth disparity.

We must examine our policies in all areas of life--housing, employment, education, health, etc--that contribute to minority women's lack of wealth. We must tailor existing policies and create new policies geared toward minority women specifically, as any policy intended to help all women will also give white women a leg up and only serve to maintain this racial disparity. We must recognize that any effort at reform that does not look back at the years of discrimination is only a band-aid. We must bear in mind that while white women pass down thousands in wealth, black and Hispanic women pass down years of racism.

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Language "Band-Aid" won't solve education problem

Most college application deadlines for the Fall 2010 semester have already passed, but future applications may look a bit different.

The Associated Press reports some colleges and universities have begun offering Spanish-language versions of their admissions Web sites. The translated sites are intended to help parents who don't speak English understand the college admissions and financial aid processes.

Among those offering Spanish-language resources, Bryn Mawr College, Smith College and Wesleyan University have Spanish versions of their Web sites, and the University of Pennsylvania conducts admissions info sessions in Spanish.

The rationale for the translations? Boosting Hispanic enrollment in higher education. According to the American Council on Education, only 25 percent of Hispanics ages 18 to 24 were in college in 2006, compared to 32 percent of blacks, 44 percent of whites and 61 percent of Asians-Americans. Citing Deborah Santiago, vice president for policy and research at Excelencia in Education in Washington, the AP reports, "Parents play a critical role in the aspiration of college," and helping parents understand the process may help Hispanic students close the race gap in college admissions.

What do these well-meaning efforts overlook? For one, a glance at readers' comments reveals a "LEARN ENGLISH" anger common in "to translate, or not to translate" debates. But in addition to this objection, and arguably more importantly, these new Spanish-language resources ignore social and institutional systems that prevent some Hispanics from going to college. Economic barriers may prevent some groups, while lack of access or preparation may prevent others, and still other barriers may exist for other groups. Where to lay the blame for these roadblocks, I don't claim to know. But in order to effectively combat low Hispanic enrollment, we must start from the ground up: In the high schools, the elementary schools, the after school programs and in the home. We must employ an artillery of resources to help Hispanic students, their families and the education system itself.

Furthermore, what happens when Hispanic students are admitted and enrolled? If parents can't proofread their children's first term papers or help them format their cover letters, students may feel lost and alone. Once again, a ground-up strategy is best. We cannot merely provide parents with the tools to help their children get in the door; we must help Hispanic students feel empowered to take on the rigors of college. We may also want to help parents better support their children, whether through academic counseling of their own or orientation programs upon their children's admission.

Spanish language Web sites may do well to introduce parents to the college admissions process, but it will take more thorough and culturally relevant efforts to boost Hispanic enrollment and achievement in higher education.

Photo Credit: OregonLive.com