Americans without a College Degree Struggle Financially


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Latinos have made great strides in education in recent years, with more enrolling two- and four-year colleges and universities than ever before. However, there is still a significant gap between Latinos and other racial and ethnic minorities in obtaining college degrees.

Education is one of the main determinants of health; the more education you obtain, the better your chances for higher paying jobs, financial stability, upward mobility, and better long-term mental and physical health.

Overall, the economy has rebounded from the mid-2000s economic downturn. However, according to a new report by the Federal Reserve, those households that do not have a college degree are struggling more than ever.

As reported by Reuters, the annual report serves as “temperature check” on the wellbeing of U.S. families. While 70% of those families surveyed said they were “living comfortably” or “doing OK,” which is an improvement of the 62% surveyed in 2013, 40% of respondents with a high school degree or less said they were “struggling” financially.

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The differences were also felt along racial and ethnic lines, as 51% of white adults said they felt better off than their parents compared to 60% of blacks and 56% of Latinos.

“The survey findings remind us that many American households are struggling financially, including fully 40% of those with a high school diploma or less,” Federal Reserve Board Governor Lael Brainard said in a statement.

Of those responding, 44% also said they would struggle to meet emergency expenses of $400 while 17% of workers and 24% with a high-school education or less said their work schedule was changed by their employer from week to week.

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of Latino parents support public funding for afterschool programs

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