Walk on any college campus today and look around. You’ll see classrooms filled with energy, student centers buzzing with life, and young adults grinding toward their futures. But look closely, and you’ll notice something missing—Black men. Our presence isn’t just low… it’s shrinking. Fast.
Right now, Black men make up only about 4.6 percent of all college students in America. In a nation of 19 million students, we’re barely visible. And even at our celebrated HBCUs—institutions built by us and for us—the picture isn’t brighter. Black male enrollment at HBCUs has dropped roughly 25 percent since 2010. That’s not just a dip. That’s a full-blown crisis.
Every brother missing from campus represents one less potential graduate, one less high-earning household, one less leader pouring back into the community. When the educational pipeline shrinks, the paycheck shrinks, and the future shrinks right along with it. This isn’t just about education. This is about economics, wealth, and survival.
This Isn’t Just a School Problem—It’s a Generational Wealth Problem
Let’s talk numbers—real numbers that expose the financial impact.
Only about 40 percent of Black men who start a bachelor’s degree finish within six years.
That means 6 out of 10 walk away with:
No degree
Student loan balances
Limited career options
Lost lifetime earning potential
That’s the worst financial combination possible—debt with no credential. A degree still matters in America, especially for Black people who often lack the resources and connections to benefit from the “it’s not what you know, it’s who you know” blueprint.
Higher education opens doors to higher-paying careers, better benefits, and greater mobility.
According to Federal Reserve data, the median earnings of someone with a bachelor’s degree are roughly 65 percent higher than someone with only a high school diploma. Over a lifetime, that’s close to one million dollars more in earnings.
A million dollars! That’s enough to buy a home, fund a business, eliminate debt, invest for retirement, and change the future for the next generation. When brothers drop out, that million doesn’t disappear—it just goes to someone else.
And the ripple effect hits entire neighborhoods:
Fewer Black homeowners
Fewer Black investors
Fewer Black entrepreneurs
Fewer mentors for young men
Fewer leaders in high-earning industries
Education is a wealth multiplier. When we fall out of the pipeline, Black wealth leaks with us.
Why Are Black Men Walking Away?
There’s no single answer. It’s a storm made up of several forces working against us.
Money Pressure
Many Black male students carry family responsibility before they ever take their first exam.
Bills. Rent. Kids. Caretaking.
When the choice becomes school versus survival, survival wins.
Lack of Belonging
Most campuses weren’t designed with Black men in mind. We often feel isolated—socially, academically, and culturally. When you don’t feel seen or supported, the exit door feels easier than staying.
Low Academic Preparation
The American public school system fails too many Black boys long before college. If high school didn’t prepare you, college hits like a brick wall.
Mental Health and Masculinity Pressure
Anxiety, depression, and stress silently eat at many brothers. But society teaches us to stay quiet, not seek help. That silence leads straight to burnout and withdrawal.
No Clear Vision
If you don’t know why you’re there, college feels pointless. Purpose fuels persistence. Without it, dropping out becomes the simplest option. Add rising tuition, cultural disconnects, and lack of mentorship, and the pipeline weakens even more. But understanding the reasons isn’t enough—we have to reshape how we think about education itself.
College Isn’t the Only Path — But Education Is Mandatory
Let’s get something straight:
College is not the only road to success, but education in some form is absolutely mandatory. The modern economy punishes the unskilled and rewards those with specialized training. If college isn’t your lane, pivot to something that builds skills and long-term earning power:
Skilled trades
Professional certifications
Real estate licenses
Coding and tech bootcamps
Apprenticeships
Military careers
Entrepreneurship and small business programs
Digital, technical, or financial credentials
Electricians, plumbers, welders, HVAC techs, IT techs—many earn between $80K and $150K with little to no debt. That’s real earning power. That’s ownership potential.
Education—whether formal or informal —is a financial asset. Ignoring it is like ignoring investing: You don’t hurt the system. You only hurt yourself.
When Black Men Exit the Educational Pipeline, the Community Pays the Bill
The consequences extend far beyond paycheck size:
Lower Wealth Creation
Without degrees or certifications, lifetime earning power drops—often by hundreds of thousands of dollars.
Less Career Mobility
Without specialized training, the job ladder becomes a step stool.
Growth is limited, options are few, and promotions are rare.
Weakening Family Stability
Economic fragility is one of the biggest threats to Black households.
A Shrinking Black Talent Pipeline
High-paying industries—engineering, tech, finance, medicine, law—need us.
But they can’t find us if we’re not prepared.
Greater Economic Vulnerability
Low skills equal low protection. Low protection equals high risk. High risk equals generational struggle. This is not a temporary setback. It’s a long-term economic wound.
Generational Curses Don’t Break Themselves—We Must Unlearn This
We have allowed the idea that “school isn’t for us” to seep into our DNA. We joke about it. We normalize it. We repeat it to our sons. We must unlearn it. Education must be reframed as:
A flex
A responsibility
A strategy
A path to ownership
A wealth-building tool
Black boys must see education—whether degree, trade, or certification—as the gateway to power, not punishment. We need more Black men in:
Classrooms
Trade schools
Coding academies
Business programs
Apprenticeships
Medical and law schools
Financial literacy workshops
Leadership pipelines
When we raise the educational level of Black men, we raise the income ceiling, the wealth floor, and the stability of the entire community.
So, What’s the Bottom Line?
If we don’t invest in ourselves, America won’t invest in us, either. This is not just a college crisis.
This is a wealth crisis.
A family crisis.
A community crisis.
A future crisis.
Brothers—pick a path that strengthens your skills, sharpens your mind, and increases your earning power. Whether it’s a degree, a trade, or a certification—get something that pays you for life.
Because staying unskilled in a skilled world is a debt you will spend your entire life paying back.
It’s time to rebuild the pipeline.
It’s time to unlearn the dropout mindset.
It’s time to invest in the wealth we deserve.
(Damon Carr, Money Coach & Tax Pro can be reached at 412-216-1013 or visit his website at www.damonmoneycoach.com)
Helping you flip your finances from stressed to blessed — one smart decision at a time.
Here are 10 kinds of broke that keep people stuck, and how to break free from each one.
1. Overspending Broke—The Lifestyle Trap
This is the most common kind of broke. You make good money but spend like it’s unlimited. You buy what you want when you want—because, after all, “you work hard.”
But here’s the problem: You’re financing a lifestyle, not building a legacy. Your bank account never grows because your spending grows lockstep with your income.
Fix it:
Track every dollar for 30 days. Identify your leaks. Create a spending plan that includes saving and investing before spending. Live below your means now so you can live beyond your limits later.
2. Under-earning Broke—The Paycheck Problem
This broke isn’t about wasteful spending. It’s about not earning enough to meet basic needs. You’re working hard, but the paycheck doesn’t match the effort. You’re juggling bills, scraping by, and trying to survive on wages that don’t stretch far enough.
Fix it:
You can’t budget your way out of under-earning forever. Upgrade your skills. Get certified in a high-demand field. Pursue a side income. Network strategically. If your job doesn’t pay what you’re worth, find one that will.
3. Mindset Broke—The Belief Barrier
Some people stay broke because they’ve accepted struggle as normal. They grew up hearing “the little man can’t get ahead.” That kind of thinking becomes a financial ceiling.
Fix it:
Reprogram your mindset. Replace scarcity thinking with abundance thinking. Learn about money, wealth, and opportunity. Surround yourself with financially disciplined people. You can’t build wealth with a broke mindset.
4. Situational Broke—The “Life Happens” Broke
Sometimes you’re not broke because of bad habits—you’re broke because life blindsided you. A job loss, a divorce, a medical bill, or an unexpected emergency can knock you flat.
Fix it:
Focus on survival first—food, housing, transportation, and utilities. Then build an emergency fund, even if it’s just $25 per paycheck. Protect yourself from future crises with insurance and savings. You can’t always avoid trouble, but you can prepare for it.
5. Temporary Broke—The Investment Season
Sometimes being broke is strategic. You might be going back to school, paying for your child’s education, starting a business, or investing heavily in your future. You’re not irresponsible—you’re reinvesting your resources for a bigger payoff later.
Fix it:
Plan your transition. Budget lean but intentional. Don’t stay broke longer than necessary—set clear timelines and financial checkpoints. Remind yourself that this is a season of sacrifice that leads to a harvest.
6. Fake Rich Broke—The Image Illusion
This one is everywhere. You look like money—designer shoes, new car, flashy vacations—but behind closed doors, you’re swimming in debt. You’re faking it until you make it. However, your fake lifestyle is impeding your ability to save and invest.
Fix it:
Let go of image management. Sell what doesn’t serve your goals. Stop chasing compliments. Build your assets quietly. The goal isn’t to look rich—it’s to be rich.
7. Complacent Broke—The Comfort Zone
You’re not struggling, but you’re not growing, either. You’ve accepted “just enough” as good enough. You’re stable but stagnant—no savings, no investments, no goals beyond next month’s bills.
Fix it:
Challenge your comfort zone. Set bigger financial goals. Automate your savings. Study wealth-building strategies. Don’t confuse comfort with success—progress lives beyond your routine.
8. Silent Broke—The High-Income, Low-Net-Worth Syndrome
You’re earning solid money—maybe even six figures—but your bank account doesn’t reflect it. You have no emergency fund, no investments, and no financial margin. You’ve mastered making money, but not managing it.
Fix it:
Track your net worth quarterly. Automate your savings and investments. Live like your future depends on it—because it does. Wealth isn’t what you earn or how much you can spend, it’s what you save and invest. .
9. Emotional Broke—Spending to Feel Better
Money becomes medicine. You spend when you’re sad, lonely, angry, or stressed. The rush of the purchase feels good for a moment—until the bill comes due.
Fix it:
Heal the root, not the symptom. Learn to manage emotions without money. Journal. Exercise. Talk to someone. Replace impulse with intention. Emotional peace will bring more relief than any purchase ever could.
10. Generational Broke—The Family Cycle
This broke runs deep. You learned how to manage money by watching people who struggled with it. Maybe nobody ever taught you how to save, invest, or plan— because they didn’t know how, either.
Fix it:
You can’t fix what you don’t face. Learn what wasn’t taught. Read financial books. Take courses. Seek mentorship. Hire a money coach. Then teach your kids what you’re learning. You can be the one who ends the cycle and starts the legacy.
The Common Thread: Control
Whether you’re overspending, under-earning, or repeating family patterns, the word “broke” boils down to one thing—lack of control.
Overspending broke is losing control of where money goes.
Under-earning broke is losing control of how money comes in.
Mindset broke is losing control of what you believe about money.
Regaining control starts with ownership. You can’t change what you won’t confront.
How to Break Free
From Broke for Good
Face your numbers. Ignorance isn’t bliss—What you don’t know can bankrupt you. Write down your income, debts, and expenses.
Build a cushion. Aim for at least $1,000 in an emergency fund, then grow it to three to six months of expenses.
Cut financial fat. Cancel what you don’t need. Simplify bills and subscriptions.
Increase income. Learn skills that boost your value. Side hustles, certifications, or better opportunities—pursue them.
Invest automatically. Start small, stay consistent. Compound growth rewards patience.
Protect your peace. Financial stress spills into your health, relationships, and sleep. Build structure, not chaos.
Teach what you learn. Knowledge that stops with you dies with you. Pass it on.
Being broke wears many faces—overspending, under-earning, mindsets, emergencies, or emotional habits. But the cure is always the same: awareness, discipline, action, and consistency.
You can’t pray away poor money habits. You can’t wish away a low paycheck. You can’t manifest wealth while ignoring math. But you can decide—right now—that broke is not your destiny.
Start today. Spend smarter. Earn better. Think bigger. Break free from broke!
Financial freedom doesn’t happen overnight, but it does happen on purpose.
(Damon Carr, Money Coach & Tax Pro can be reached at 412-216-1013 or visit his website at www.damonmoneycoach.com)
Helping you flip your finances from stressed to blessed — one smart decision at a time.
