54 percent of students from wealthy families, and only 9 percent from low-income families, were able to graduate from college.
Provo, UT (PRWEB) November 22, 2011
CNNMoney recently reported the results of a research project published by Martha Bailey, University of Michigan assistant economics professor. Using data from college graduates in the late 1990s and early 2000s, the study showed that 54 percent of students from wealthy families, those with a household income of more than $87,000 annually, completed their college degrees. On the other hand, only 9 percent of students from low-income households, those that make less than $26,000 annually, were able complete their degree. Compared to data from the late 1960s, where graduation rates were 36 percent and 5 percent, respectively, the gap between ability to complete college degrees based on economic level has increased drastically. The reasons for the lagging growth in the number of low-income graduates could be due to many factors, such as: the likelihood for high-income families to send their students to school than low-income families, low-income students tend to attend lower-tier schools with larger class sizes, low-income students don't receive aid from parents and are more likely to face discouragement. My Colleges and Careers' online tools are ideal for any college students who are working towards completing their schooling and successfully completing an online degree program.
Comparing data from the late 1970s and 1980s to that of the early 2000s, Bailey was also able to show that the graduation rate for high-income students grew significantly over that time frame, while low-income graduates had grown only minimally. While two-thirds of freshman from wealthy households finish their degree, only one-third of those from low-income households are able to do so. Without a college degree it is significantly more likely that low-income students will stay at their current economic level. However, 41 percent of those who do earn a college degree are able to move up to the two highest economic rungs—middle class and upper class. My Colleges and Careers provides online tools that will simplify the process of finding online colleges and degree programs for those coming from homes of any economic level.
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