Study: It’s Racist to Teach Students Financial Literacy 

Students who graduated last year had more than $37,000 in student-loan debt alone, not to mention credit card debt. A recent Citizens Bank survey showed that nearly six in 10 millennials regretted their borrowing, also showing that many lacked the knowledge to effectively address their debt or make informed financial decisions.Colleges are stepping in and offering financial-literacy courses, sometimes at the behest of politicians and or even the Department of Education. But these courses are actually racist, argue two professors in a newly published paper in the Federal Reserve Bank of St. Louis Review.The paper, written by Duke’s William A. Darity and the New School’s Darrick Hamilton, argues that financial-literacy courses presume that the problem is simply that students of color lack of financial responsibility or financial knowledge.

Source: Study: It’s Racist to Teach Students Financial Literacy | Heat Street

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