
Tuesday, September 30, 2008
Sunday, July 27, 2008
Black Men Not Graduating in Michigan
It also says Detroit has the second-lowest rate among big-city public school districts. The report issued by the Schott Foundation for Public Education says Michigan graduated 33% of black males in 2005-06, compared with 74% of white males.
Detroit Public Schools graduated 20 percent of black males and 17% of white males.
State Superintendent Mike Flanagan says the low graduation numbers are a “major concern.” He says Governor Granholm’s small high school initiative will help build greater relevance and relationships with schools and students.
Sunday, June 22, 2008
Black Money, Black People: Blinded by the Black Bling
When it comes to diversity and integration, I have some critics. I created a website called YourBlackWorld.com, a website for African-Americans. The site was created in response to my experience dealing with mainstream media, which typically provided a 1 or 0 dimensional perspective to black points of view. Although I have a PhD in Finance, I was never called by CNN, FOX or CBS to discuss money or financial issues. I was usually called whenever they had a conversation on “black stuff”.
The fact that they saw me as a black man before they could see anything else was no fault of my publicist. A wonderful and energetic woman, my publicist called all the major networks to introduce me as a person well-qualified to discuss the economy, money management, stock markets or global finance. I have trained literally thousands of Suzie Ormans and Wall Street experts through the years, so it was only logical that this be an area that I speak on as a public scholar.
The problem was that many Americans do not see a black man when they envision a financial expert. A black man is more likely to be seen as a rapper, athlete or criminal. At best, they see a black scholar willing to discuss black rappers, athletes and criminals. That became my role with CNN.
I don’t mind discussing black people, for I have a very strong black identity. However, the limitations of my role bothered me a great deal, and what bothered me most was that it didn’t bother anyone else. If anyone else was bothered, it was for all the wrong reasons. I remember having a debate with a black conservative on CNN about why African-Americans have such a negative image in the world. The conservative, buying into some of the basic tenants of white supremacy, truly believed that the reason black Americans have such a negative image throughout the world is because black people simply choose to behave like criminals. He argued that if black people would simply mind their manners and stop getting arrested so much, the media would have nothing to report.
Apparently, this man had forgotten that there are over 30 million black people in America. So, even if 95% of these individuals were to choose to become perfect angels (or engage in what I call “The Good Negro Behavior Protocol”), there will, by simple statistical fact, be at least 1 million individuals doing things that could embarrass the rest of the community. By virtue of the fact that the media’s lens focuses most on those individuals in the black community who engage in embarrassing behavior, it would be these 1 million individuals who receive the most airtime.
I strongly believe in the idea of freedom. I believe that the black community has a right to be as diverse as any other group of people in America. Rappers have as much a right to exist as professors do. The idea that we can get angry at rappers because CNN and other networks focus on rappers more than anyone else is not the fault of the artists, but rather, due to the one dimensional perspectives of the networks themselves. It’s not who is in front of the camera, it’s where the camera chooses to focus itself.
Another problematic dimension to the “good negro behavior protocol” is this idea that all of us should be “embarrassed” when there is a black person on TV behaving in a comical or criminal fashion. I hear educated African-Americans speak of how embarrassed they are by the behavior of Flavor Flav, the ex-rapper turned reality TV star. I personally find Flavor Flav to be funny and I feel that he has as much of a right to be himself as the white guys on the great MTV show “Jackass”. I have never once heard a white man express that he is embarrassed for the white population because of what the guys on Jackass do on television. I have never once heard a white female say that she is embarrassed for the white race when Paris Hilton is arrested for drunk driving for the 1,000th time. The reality is that they know clearly that Paris Hilton and Jackass do not represent the white experience or dominant white expression.
For some reason, black people are the opposite. Rather than questioning why the media gives us an either-or reality for how we express ourselves in media, we get angry at one another for choosing to express ourselves in a unique fashion. The truth is that Flavor Flav has a right to be a comedian, he has a right to be a jack ass. If anyone in the world watches Vh-1 and thinks that all African-Americans behave like Flavor Flav, then their ignorance is their problem, not mine.
This was an excerpt from the book "Blinded by the Bling: The Plight of the Black Middle Class" by Dr. Boyce Watkins, set to be released August 15, 2008. For more information, please visit www.BoyceWatkins.net.
Thursday, June 12, 2008
Boyce Watkins: Educational Thought of the Day
Monday, June 2, 2008
529 College Savings Plans: Tax Advantages for Your Student
The 529 prepaid tuition and savings plans are among the weapons parents and students can use to cover the cost of college tuition. The 529 plans, also known as “qualified tuition plans” are designed to encourage families to save for higher education. They provide incentives to save, and also allow for additional financial and tax benefits that can make the process easier for families who plan ahead. All 50 states sponsor at least one type of 529 plan, so there are options available for any citizen in any state.
Note that there is a difference between the 529 prepaid tuition plans and the 529 college savings plans. The 529 prepaid tuition plans allow parents and students to purchase credits for tuition at a chosen university and sometimes even room and board. The price of tuition, room and board is held fixed, with no inflationary changes for the duration of the investment (in other words, the cost of tuition doesn’t change for you like it does for everyone else). Most of the plans are sponsored by the state government and also have some kind of residency requirement. In exchange for meeting these requirements, the state government will provide a guarantee for the investment made in the 529 plan.
The 529 savings plans are similar to the prepaid tuition plans, with some mild variations. The plans allow an individual (usually the parent) to set up a plan for another individual (the student) with the goal of paying for the student’s educational expenses. The plans allow plenty of flexibility in choosing the beneficiary, and you can even choose yourself as the beneficiary. The funds are not guaranteed by the state or federal government and you are given an array of investment options for the funds you’ve deposited into your account.
The tax advantages of 529 plans are quite strong. While rules can vary by state, you are not typically required to pay state and federal taxes on earnings from the 529 plan. The only requirement is that any withdrawals from the plan are being used to pay qualified college expenses. Withdrawing the funds to pay for items not related to the cost of college attendance will lead to a 10% penalty in addition to any applicable federal and state income taxes.
Here is a mathematical example to help you understand the financial impact of avoiding taxation on investments in a 529 college savings plan. Assume Teresa invests $1,000 per year in her son’s 529 college savings plan from the time he is born until he is 18-years old. Also assume that her investment earns an annual rate of return of 8%, which is relatively easy to earn on a well-diversified stock portfolio (you can simply ask your investment company to give you a mutual fund that matches the risk and return of the rest of the stock market). She doesn’t engage in stock picking. She just puts her money in a simple mutual fund and leaves it alone.
How much will Teresa have contributed to the account over an 18 year period? $18,000. How much will she have available to pay her son’s tuition when he leaves for college? $37,450. That is more than double the amount she invested in the plan over the 18-year period. Not being taxed on the income gives Teresa an extra $5,000 (roughly speaking) to pay college tuition that she would not have had by investing without the tax benefits of the 529 plan.
One thing that Teresa must remember is the fact that the average tuition increase is 8% per year. So, this increase is going to match dollar-for-dollar the increase in Teresa’s investment portfolio. So, the truth is that she is going to have swim forward just to keep up with the current. This match in growth rates is what makes prepaid tuition plans roughly the same in attractiveness as prepaid savings plans. Had Teresa invested in a prepaid tuition plan (instead of a savings plan), she would have found herself paying tomorrow’s tuition at today’s prices. So, either way, she is going to pay tuition, but investing with tax benefits makes it easier.
My thoughts on the issue? Prepaid tuition plans are the safest bet, as long as you are sure that you don’t want to leave the state to attend college. While you are allowed out of the deal in most cases, there is a penalty for doing so. Savings plans are better for those who want to have a bit more flexibility in attendance options, as well as the chance to possibly outrun the cost of college tuition. Remember: Teresa earned 8% per year on her investment, but the average rate of return on the stock market has historically been around 12%. Therefore, an average portfolio over 18 years would have likely given her more than the cost of tuition.
The key is to remember that the greatest investment in this process is the one in your child. Your child’s greatest investment is the one in his/her educational future. Also, there are a litany of financial aid options available in addition to 529 savings plans. Money should not be a hurdle to building a great future.
Dr. Boyce Watkins is a Finance Professor at Syracuse University. He is also the author of “Everything You Ever Wanted to Know about College”, and “Financial Lovemaking 101: Merging Assets with Your Partner in Ways that Feel Good”. He is also the founder of YourBlackWorld.com, one of the top black news and commentary sites in America.
Monday, May 26, 2008
College Drinking Is Out of Control
I recently noticed that the Duke Lacrosse team, the same guys caught in the middle of the rape fiasco that occurred a couple of years ago, were knocked out of the NCAA tournament. The upset by Johns Hopkins ended a season that will surely allow these young men to be remembered as heroes. Granted, their comeback from the depths of despair after the rape scandal in 2006 is quite remarkable. Also, Duke is a great school, a place that my little brother was planning to attend. However, we might want to put the “heroism” of Duke University athletes into perspective, for we don’t want to get carried away.
I was quite vocal about the Duke lacrosse situation in 2006, and I don’t regret one word of my commentary. When a young black student at another university accused the athletes of rape at a party, there was quite a bit of legitimate racial tension in the Raleigh-Durham area, as well as across the nation. I did not stand up in defense of the young black woman’s story, nor did I accuse the athletes of anything that was not yet proven in the court of law. I wasn’t there when the event allegedly took place, since I don’t hang out at drunken stripper parties.
What concerned me about the situation was not the lies that may have been told by the victim. I assume she was lying, since she disappeared and her story fell apart like a Sean Hannity argument. Perhaps she was paid or threatened to remain quiet, but we will never know what happened. I also had no problem with the punishment of Mike Nifong, the District Attorney who seemed to presume guilt before actually proving it.
What I had a problem with is that everyone continues to miss an important piece of this picture. The athletes on the Duke Lacrosse team are NOT great American heroes. At best, their behavior was that of drunken thugs who were fortunate enough to be able to hire good attorneys to get them out of trouble. I have friends in “the hood” who behave this way, some of whom are still in prison for things they didn’t do. There is a Bill Cosby argument to be made which states that staying out of trouble means avoiding situations most likely to get you into trouble.
Heroes don’t drink till they puke every weekend. Heroes don’t hold parties with booze and strippers till all hours of the night. After all was said and done, I hope that these men were not given the green light to continue the same egregious behavior that got them into trouble in the first place. That would be sending the wrong message to these young men.
But the kids on the Duke Lacrosse team are not alone. I find myself consistently shocked at some of the behavior I see on many college campuses. While we consider college campuses to be havens of the elite, I can simply say that I know men who’ve gone to prison who don’t behave in such a deplorable fashion. The fact that individuals like George Bush are products of this tradition explains a lot about the brilliant policies of our great nation. It also explains why Bill O’Reilly has a loyal audience. I can’t use this culture to explain the drug abuse and illegal behavior of the caricature known as Rush Limbaugh, since he never graduated from college. In fact, according to Rush’s own mother, “he flunked everything, even a modern ballroom dancing class”. I’m honestly not surprised.
After spending my life on major college campuses for the last 18 years, I can only ask this question: Who IN THE HELL decided that it was normal to drink every weekend until you pass out? Who decided that this behavior is simply a “part of college life”, with kids not being taught the first thing about personal responsibility? I’m sorry, but in the real world, people who engage in excessive alcohol consumption destroy their livers, are far more likely to get raped, are more likely to be caught in violence, are at risk of driving and killing their best friends and put the rest of us in jeopardy. I’m not cool with that.
The U.S. Surgeon General has identified binge drinking on college campuses as a major health problem. I have middle aged alcoholic friends who took their first drink on a college campus. What concerns me the most is that the parents of these students and administrators around them are not stepping up to the plate and forcing these kids to chill out. Even well-intended administrators are ham strung by overzealous parents who believe their children can do no wrong. Perhaps they should call Bill Cosby in on this one, since there is a lot of bad parenting going on.
I know cops and prosecutors who claim that parents are one of the primary reasons that arrested college students don’t usually learn lessons from their audacious behavior. The next time I hear someone criticizing parenting in the black community, I am going to tell them to look to our elite campuses as the greatest examples of irresponsible parenting. I’m no bible thumper and I’m surely not a conservative, but I grew up with good role models who taught me the importance of common sense.
When I read about the Duke Lacrosse party, that is what I saw: another episode of college campus culture teaching young men and women to be comfortable behaving as menaces to society. Over 1,700 college students die each year from unintentional alcohol-related accidents. Roughly half of all college women are sexually assaulted during college, with at least half of these incidents involving alcohol. Individuals who consistently promote this kind of behavior on campus are no heroes of mine. But I don’t blame the students, I blame their parents and the adults who refuse to tell them the truth. If my son were at that party engaging in this kind of embarrassing behavior, I would (keeping it honest, in the words of my grandmother) “whoop his black ass”. Only men who host drunken stripper parties have to worry about strippers accusing them of rape.
I grow weary of appearing on shows in which I am asked to defend the behavior of black males, when I see students on college campuses behaving in ways that should make their families ashamed. I long for the day that a man like Bill O’Reilly takes a break from judging the values of the black community and turns that same self-righteous eye toward the Ivy League and private university thugs-in-training who think it’s ok to begin the quest toward alcoholism right after freshman orientation. But of course, the racism and elitism of America lead us to only see flaws in the oppressed. That is what my book, “What if George Bush were a Black Man?” was all about.
So, my tough love for the lacrosse players at Duke University is this: Congratulations on coming back from your setback. You were lucky, because prisons are full of men who never got a second chance. I’m sorry the stripper you hired lied to the police after your liquor and stripper-fest was over. But you shouldn’t be hiring strippers at the age of 19, and you should never have been in that situation. Now that we’ve had this conversation, you are free to go out in the world and truly become heroes.
Dr. Boyce Watkins is a Finance Professor at Syracuse University and author of “Everything You Ever Wanted to Know About College”. For more information, please visit www.BoyceWatkins.com.
Wednesday, April 9, 2008
Was there a Book Under the Tree? Knowledge is Power

According to the Federal Interagency Forum on Child and Family Statistics, the Black community is still lagging behing when it comes to reading: White, non-Hispanic students had higher scores in 2005 than their Black, non-Hispanic and Hispanic peers at grades 4, 8, and 12. There were no changes in these gaps from 1992 to 2005 at grades 4, 8, and 12. This has got to change.
Our ancestors built pyramids and invented almost everything. Perhaps it was easier to excel then because positive role models were everywhere and excellence was not only a necessity, it was expected. We can duplicate that environment today. Read, read, read! The local black press has loads of information on positive contributions in the community. Sit down and read the papers with your child. In addition, there are now thousands of exciting multicultural children's books and history books to choose from. Although Black brick and mortar book stores are becoming extinct, bookstores online and offline are still the source for your broadest selections. There is bound to be some that your child would love and will also interest and inform you. Read, read, read!
Thursday, February 21, 2008
10 Tips to Get You Through College...Successfully!
Back in school at 30? Don’t just get your degree. Build a life!
Education expert Brenda Major discusses her top 10 things to consider before and during the college experience.
As told to Andrea D. Johnson
Not everyone goes to college directly after high school. Of those who do, some don't graduate or take advantage of the vast resources available. For some, life happens and we're swept off our feet with sudden responsiblity. We get married, we have kids, relatives need taking care of. And of course there are those who hate heir jobs. No matter the situation, something (or someone) is always nudging... "Go get your degree.” Bachelor Degree or Masters-in any case, all of us have been advised that that piece of paper will solve all of our problems. Here's the reality check: College is more than receiving a piece of paper at the end of two or four years. It’s a paradigm shift, it’s an attitude adjustment, it’s a time to reposition yourself, and as Admissions Director at Eastern Illinois University, Brenda Major says, “It’s a time to build a life! And it’s not just about making A’s.What you do while you’re getting that degree is what really matters. A degree doesn’t guarantee you a job.” In an exclusive interview, Major outlines important ideas continuing students should consider.
Do a self assessment. Ask “Do I know how to study? What hours of the day am I most alert?” Be the best judge of yourself. I know adults who seek out high school teachers to help with study tips. Maybe you have to go back to grade school and ask that person to mentor you. You need to be around positive people. You should be around people willing to take you from where you are, to where you need to be.
Scholarships are not just for YOUNG people! You can get a scholarship too. Look for the money! “A lot of times adults feel that scholarships are not for them, but financial aid is out there. Google “financial aid for adult students.” Several websites including FAFSA have scholarship information. It takes some research but if you really want it, it’s out there.”
Generally, people become scared from simply hearing the words “private” and “out-of-state.” This shouldn't mean that they can’t become an option. Many experts support the idea that college is an investment and cost shouldn’t be a reason not to go to college. Major agrees and she doesn’t believe loans are the only answer. “Most private schools will discount their tuition charges for students with a demonstrated financial need. At state schools like Eastern Illinois University, there is a growing population of adult learners, and many receive aid.
Cost is never the reason to attend a particular college. Create a budget so you'll know the exact cost of your education each year.“In addition to scholarships, you should create an exact budget-- to the penny. What do you absolutely have to have? Be realistic, college is a sacrifice. Create a budget so that you are able to take advantage of the really great things that are bound to come your way. Things like traveling abroad, internships, or fellowships. Learn to budget once so that later cutting things out become easy. Besides some things that you sacrifice, you’ll realize you don't need. We have to remember colleges are selling a product-a product somebody has to pay for. Financial aid is designed to help, not give education away so there is no such thing as a full ride. You can't go to anybody’s college for free. It’s their job to help, not pay for you to learn.”
Search for colleges with programs to assist you to complete your degree in four years. “GET IN, GET OUT. Look for incentive programs that help you to graduate in four years. Focus on this idea: You don't want just a job, you want to build a life. Therefore, you have to do more than make good grades. Internships, volunteer opportunities, studying overseas…a resume that makes you look fascinating will attract employers. Spend some time volunteering at a company you would like to be employed by, or similar to your desired company. You are building a life! If you are willing to give of your time in exchange for experience, not money, and you do a superior job, someone will notice your strong work ethic. In turn, they may write recommendation letters, know of scholarships, and may even pay you to go to school so you can come back and work for them.”
Ask for an application fee waiver if you think you may qualify. Even if you doubt the school waives the application fee, ask. If they say no, some community educational service agencies can assist and will submit a waiver request for you.”
Expect to stretch beyond your comfort zone academically and personally. Major says that people wanting to return to school are usually determined and goal oriented, but even those people may underestimate what they may have to sacrifice. Really consider your goals and what may conflict with your plans.
Get the full experience by approaching school with a positive mindset. It’s not just going to class, you’re building a life! With traditional college students, it makes sense to conduct a college search that spans the country. But older students with full-time jobs, maybe kids or a relative to care for don’t have that option. This can sometimes be a downside. But according to our expert the “full experience” doesn’t have to mean having roommates and barely enough room to turnover at night. Major says, “Even if you are landlocked, you can’t treat college like you treat work. Then you definitely won’t get the most out of your experience. After working all day you should look forward to school, look forward to being with people who think big! It’s a chance to advance your mind. Join organizations. We want older students to run student government. They have common sense! They can motivate other students by their presence, and can advise some of the younger students. If you don’t network while you’re getting the degree, your life doesn’t change after you get the degree. Allow college to advance your thinking. Even if you have to uproot the family and head for New York just to have a better opportunity in life, the full experience can help you. Then what an incredible role model you've become for your children, your family, even your parents. Then you are teaching by example.”
Form a support group. “Hang with other people who are raising a family, holding down a full time job, or taking care of parents--that’s what more unique to adult learners, they have a group mentality. You don’t need to feel alone. Develop a network of adult students, with similar goals and even similar ages. It can make a difference!”
Currently the Director of Admissions at Eastern Illinois University, Brenda Major has been working in college admissions over 20 years. She has assisted nearly 5,000 students from high school to college graduation and beyond.
Saturday, February 9, 2008
Saggin Pants? Does it justify racism and exclusion?
Is the saggin pants issue bad for black men or just a form of self-expression? Give us your thoughts.