Financial Literacy, Group Economics and the History of the Black Dollar with Angel Rich

I don’t even know if I should be promoting this, seeming as though I’m so pro-HBCU’s. However in this interview video by the Breakfast Club, Angel Rich, (who was named by Forbes as the next Steve Jobs), makes the claim that after 7 years of paying and owing student loans for an HBCU you can stop paying and be cleared of the payments. Her theory however, is based on a fact that most of your student loans being privately funded and not publicly funded.

Now I know that statement has many of you on the edge about the interview, but it was truly one of the best interviews, I as a Political Science student has viewed in a long time. Angel spoke about the most significant problem in the Black Community “Group Economics.”

Over the weekend, I visited my family in California, two of my cousins who happened to be sisters got into a huge fight over $2,300. The fight was so big it caused one of my cousins to even curse me out, and threaten me with lawsuit, to which I have no idea how that would work, but she definitely hurled the threats my way as well as others. I couldn’t help, but watch this interview with Angel speaking about Group Economics and think, what if we had put our money together in a business. Instead of fighting over the bill for a trip to Hawaii, that honestly none of us can afford! What if we had taken the money spent, which total close to $8,000 total and placed it in a start up family business.

Yet, do you know what the biggest problem is, it’s definitely Group Economics. Nonetheless it’s also the crabs in the barrel mentality, the mentality to always want to pull the other crabs and far down as possible, just to pull yourself above them, even though you are still inside of the barrel. I absolutely loved this interview. Angel Rich, dropped, a lot of jewels. Please view the video and comment with your thoughts.

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