I only scratch the surface of the racial implications of Generation Debt in the book. But this column (Times Select) pretty much says it all:
We are now in a time when a college education is a virtual prerequisite for achieving or maintaining a middle-class lifestyle. "Only the kids who get a postsecondary education are even keeping even in terms of income in their lives, and so forth," said Gary Orfield, a professor at the Harvard Graduate School of Education and director of the Civil Rights Project. "The rest are falling behind, year by year. Only about a twelfth of the Latino kids and maybe a sixth of the black kids are getting college degrees. The rest of them aren't getting ready for anything that's going to have much of a future in the American economy."