It’s college acceptance letter season, and all this week, we’re talking about college-related issues. Up until the 1960s, historically black colleges were the primary higher learning institutions available to African-Americans. Some of the most famous black people in the U.S., from Oprah Winfrey to Spike Lee, have attended them and went on to achieve great success. But in our seemingly less-segregated times, are these colleges really a good educational option?

For the hour of Wednesday's State of the Union address, MSNBC anchor Chris Matthews said he "forgot" President Obama was black, causing a wide range of responses (including some on our show) the next day. Do we all need to forget about race to be post-racial? Or do we just need to acknowledge and accept people's race?

Today is the Part Two of The Takeaway’s series “The Color of Money.” We’re exploring how the financial crisis is affecting people of color in the United States, perhaps differently than it affects their white peers. Today we are taking a close look at how financial services are marketed by black Americans to black Americans. For example, “rush cards" — no-credit-check, pre-paid credit cards with $200 credit limits and $50 a year in fees. We’re joined by Boyce Watkins, professor of finance at Syracuse University and founder of YourBlackWorld, to discuss access to credit, the failings of financial institutions, and the changing American Dream.

Listen to Part One of The Takeaway's Color of Money series, Debtors' Prison: It lives in the 21st Century.

Here is the ad for Russell Simmons' "Rush Card":



And here is a conversation about that Rush Card from the Young Guns Now (some harsh language):

It’s not surprising that after the bright lights fade from the floor of the Final Four championship games some college basketball players dream of going pro. But if you don't go pro, what do you do? The NCAA has tried in recent years to make it clear that they value academic success as much as athletics, but a new study reveals that their efforts may not be working. At least not among black male athletes. A recent study by The University of Florida’s Institute for Diversity and Ethics in Sports reveals that the statistics are bleak: White male student athletes graduate at 80 percent versus only 58 percent of their black teammates. Michigan State had the greatest disparity in graduation rates among the Sweet 16 teams: All of its white players graduated, but only 43 percent of the black players got a diploma. Two colleges—Arizona and Gonzaga—didn’t graduate any black players at all. Some teams are doing better, the NCAA Basketball Champions, UNC, graduated 80 percent of its black players. And African American women in the tournament graduated at a rate of 78 percent. Joining us to discuss these troubling statistics is Dr. Boyce Watkins, professor of finance at Syracuse University and founder of YourBlackWorld.com.

The NCAA has been promoting academics through PSAs like this one:


Would this make you stay in school with the lure of an NBA salary?

A lot of information is available online. Whether it is on Facebook, Twitter or your blog, there may be some details about your life that you don't want your kids to know about. Where do you draw the line? Or has a parent told you something that you wish they hadn't?

What's your take? Listen to the best comments after the jump, or leave a comment below.