President Obama recently called for all Americans to go to college. I agree with that assessment, for the most part. The challenges, however, are that this is not only an expensive proposition, but also one that may not be so realistic. The cost of attending college has far outpaced the rate of inflation and family incomes. Additionally, there are some who argue that not everyone is cut out for college. Personally, I think that the black community and all potential black college students should listen to the president's proposal, and here are the reasons why.

1) College doesn't have to be expensive: There are grants and loans to make the cost of college affordable. Also, it can be a great investment if you make sure you choose an area of study that will help you pay the bills later on. Additionally, there is no reason you should have to spend $30,000 per year attending expensive private institutions, when there are many state universities that charge much less. If you can't afford the cost of a private university, you should remember that college is what you make of it. Go to a less expensive school and study your butt off. You'll learn a lot that way.

2) A mind is a terrible thing to waste: There are hundreds of thousands of African American geniuses who, every year, are told that they aren't smart enough to go to college. I was one of those kids, and so were my sister and brother. The truth is that African American students cannot allow a flawed and structurally racist educational system to tell them if their kids are "college material." The truth is that the system has proven time and time again that it doesn't have the ability to judge African Americans fairly.

3) We need productivity: US productivity is expected to decline dramatically over the next 50 years. Educated citizens make a nation stronger and better able to compete. By educating our citizens and setting the bar high, the president is making a contribution to America's economic future. That is why I applaud his initiative, and black college students should listen especially.

In the NPR interview below, we discuss the benefits and challenges of getting a college education and whether or not it makes sense to do so. Enjoy!

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Dr. Boyce Watkins is a Finance Professor at Syracuse University and author of "Everything You Ever Wanted to Know about College." To have Dr. Boyce commentary delivered to your email, please click here.