Children in Low-Income Families Find it Harder to Succeed, Report Says

By Ben Gross

Children from high-income families without a college degree are 2.5 times more likely to become rich themselves than children from low-income families who have earned a college degree, according to The Atlantic.

The Atlantic recently looked at the widening income inequality in the United States, citing research from the Brookings Institute, which described the American Dream as “alive if somewhat frayed.” Research showed that while most people are better off than their parents, some groups are losing ground in the battle for economic equality.

While access to and the use of technology, and the deregulation of Wall Street, are identified as contributing factors, the institute stated that marriage appears to be a significant factor in the continued classification of the “haves” and “have-nots.”

Christine Schwartz, a sociology professor at the University of Wisconsin, said he believes that high-earners marrying high-earners—an activity deemed “assortative mating” by economists—contributes as much as 25 to 30 percent to the economic inequality factor.

Education is also another significant factor in the gap. A New York Times article found that college-educated parents spent time with their kids at a rate twice that of others since 1975, and that from 1972 to 2006, high-income families have increased their investment in “enrichment activities” for children 150 percent, compared to 57 percent for lower-income families.

There is also a huge disparity in what types of colleges high- verses low-income kids apply to and attend. The Brookings Institute results show that few high-achieving (top 10 percent of SAT I or ACT scores) low-income students apply to, let alone attend, “selective schools,” often choosing to attend community or smaller state schools.

The Atlantic offers some remedies: wealth redistribution and increased assistance for lower-income families’ early education efforts. It also suggested re-vamping the college application process to help guide high-achieving, lower-income students to see the big picture and have an equal starting point when applying to selective schools.

Tell Us: Do you think money matters when it comes to your child’s higher education and achievements? Will your economic situation determine how successful your children are in their lives academically or financially?