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A new study released today indicates that post-high school education does not close the wage gap between blacks and Hispanics and their white and Asian peers. The report by the Federal Reserve Bank of St. Louis shows that though college-educated blacks and Hispanics earn twice as much as their non-college educated peers, higher education alone does not level the playing field.

The report also found that college-educated blacks and Hispanics have more of their wealth tied up in real estate, and as such, suffered disproportionately during the recent recession. Whites and Asians had more balanced investments that included stocks and bonds.