Better job offers, higher salaries and a significant impact on the U.S. economy are some of the results derived from the fact that Latinos – and especially women – are registering the greatest growth in obtaining college degrees in two decades, compared to other racial or ethnic groups.
Several experts consulted say that greater access to higher education for the Latino community is generating very positive consequences, especially in terms of the generational gap.
Patty Juárez, head of Hispanic affairs at the financial institution Wells Fargo, maintains that this possibility of accessing university studies has been key to the successful development of this community in the United States.
“All of this serves to increase the contribution of Latinos to the economy, we are very proud of what we represent for the United States,” Juarez told the Voice of America.
Between 2000 and 2021, the number of Latinos in the U.S. with a graduate degree rose from 700,000 to more than 2.5 million. The change is even more noticeable among Hispanic women: there was a growth of 291%, compared to 199% among men, according to the report. an analysis from the Pew Research Center.
The study analyzed graduate student data from the 1990 and 2000 censuses, as well as the 2010 and 2021 American Community Surveys. Compared with white, black, and Asian Americans, Latinos showed the greatest growth in advanced degree attainment.
Despite the notable increase, researchers noted that by 2021, only 8% of all advanced degrees in the United States were held by Latinos. This contrasts with the fact that Hispanics make up approximately 19% of the country’s total population.
The Latino economy in the United States has reached $3.2 billion, according to the Official Report on Latino Gross Domestic Product for 2023 from the LDC think tank. This figure represents a 14% year-over-year growth in this population group.
“Second and third generation Latinos with higher education have better working conditions and better salaries, and that has to do with education,” said Ana Valdés, general director of Latino Donor Collaborative (LDC) in statements to the VOA.
The growth of Latina women
The increase in the number of Latinas with advanced degrees represents a significant shift over the past several decades. In 1990, there were 60,000 fewer Latinas with graduate degrees compared to Latino men, but by 2000, that gap had nearly been eliminated. By 2010, Latinas were already outpacing Latino men in earning advanced degrees, a trend that continued in 2021.
Despite these advances, Latinas with college degrees still earn considerably less than their white male peers, with a pay gap that could reach $2.5 million over a 40-year career, according to the data. This disparity was recently highlighted during Latina Equal Pay Day.
Of Latinos ages 25 and older, only 7% held a graduate degree in 2021, compared to 4% in 2000. While there has been improvement, this figure is still lower than the 14% of all Americans ages 25 and older who hold advanced degrees.
U.S.-born Latinos are also more likely to earn an advanced degree compared to those who immigrated to the country. Overall, most U.S. Latinos have had at least some college experience, compared to only one-third of foreign-born Latinos. However, the foreign-born account for more than one-third of all advanced degrees earned by Hispanics.
Among the different groups of Latino immigrants, Mexicans have the largest number of graduate degrees, although Venezuelans are, proportionally, the group of Latino immigrants with the highest educational level.
The research also found that more than three-quarters of Latinos with higher than a bachelor’s degree hold a master’s degree, which is consistent with the general trend of the population with advanced degrees.
Nearly half of all Latinos with advanced degrees reside in just 10 U.S. metropolitan areas, including more than 500,000 who live in New York and Miami. While both cities are major centers for the Latino population, most of the metropolitan areas where many Latinos with advanced degrees reside are not major centers of Latino population, according to the study.
“This growth is spectacular because it shows that Latinos continue to grow two to three times faster than the rest,” said Ana Valdés, general director of LDC, convinced that “everyone has to be aware of where the growth comes from.”
“It is a very important study for all Americans, it is a business study to know where the growth is. Because you cannot grow your business if you do not know which community is growing the most,” added Valdés, after the presentation of the report.
According to the head of LDC, everything starts with access to higher education, which has allowed second- and third-generation Hispanics to advance socially and access better-paid jobs than their parents or grandparents.
“Latino children are graduating at record levels. For example, Latino engineering graduates have quadrupled in 10 years, and that translates into growth in salaries and property purchases, growth in business foundations,” Valdés emphasizes, clarifying that this growth is also “in terms of quality.”
Patty Juárez, head of Hispanic affairs at the financial institution Wells Fargo, also believes that access to education has been key to the successful development of this community. “All of this helps to increase the contribution of Latinos to the economy, we are very proud of what we represent for the United States,” she told the newspaper. VOA.
Dropout of university students
However, financial difficulties in accessing college continue to be a problem. A Gallup poll revealed that more than half of Latino college students considered dropping out of college in 2022. The study points to several factors, such as the emotional stress of preparing for a career, but above all the high cost of private centers.
“It’s sad to drop out of school because you can’t pay, it’s unfortunate, honestly,” admits Henyi Guzmán, a student at Miami Dade College (MDC).
Despite positive data on college degree attainment, Hispanics account for the highest college dropout rate. Studying a degree can cost upwards of $150,000, which is why many people rule it out.
The MDC recently awarded 200 scholarships so that young Latinos could pursue their studies at this center. “This is extremely important for the future of this country. Without education we have nothing,” said Soraya Ramírez Galán, press spokesperson for the MDC, while recalling that the MDC “is represented by its student body, at least 77% of Hispanics.”
Despite this, many students admit that they do not find enough information about aid, even about opportunities to attend a public university. “I tell the public that they look at public schools, public universities, in their community, that many have programs that can help them,” he told the VOA Madeline Pumariega, President of the MDC.
Casa Latina, a project that was born to improve access to education
One of the problems when studying in the United States is the high cost of studying for a university degree. Although there are scholarships and student loans, they are often not enough to cover the entire university course, which means that, on some occasions, some people decide not to go to university for financial reasons.
However, in the United States, several initiatives have also emerged to facilitate access to university. Among them, there is Casa Latina, which offers several bachelor’s and master’s degrees, with subjects in English and Spanish, in business, health or law, among other things, through scholarships and at reasonable prices to improve access to higher education.
“We know there is a need for people, especially bilingual people, in many of these areas, and we want to give them access,” said Carlos Sánchez, executive director of Casa Latina.
We know that there are many people who, for example, have been working in an office for many years but, not having a university degree, have not been able to go beyond that level, but there are people who surpass them because they are bilingual,” he said.
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