College Kids From Money

In 2005, entering freshmen came from households with a parental median income of $74,000, 60 percent higher than the national average of $46,326. This represents a 14 percent increase from 1971, when students’ median family income was $13,200, 46 percent higher than the national average of $9,028.

From Unbossed.

The cited study also notes that among incoming freshmen, 24.1% expect to need remedial math, 10.9% expect to need remedial science, and 9.4% expect to need remedial English.

Another study cited but not discussed at Unbossed, makes a convincing case that more than poor K-12 preparation is at play in the income disparity.

Comparing high and low income students by quartiles of academic achievement it notes:

High academic achievement kids in high income families have a 97% chance of going to college, while it is 78% for low income kids. For those in the third quartile of academic achievement kids in high income families have a 90% chance of going to college, while it is 63% for low income kids. For those in the second quartile of academic achievement 85% chane of going to college, while it is 50% for low income kids. For those in the bottom quartile of academic achievement kids in high income families have a 77% chance of going to college, while it is 36% for low income kids.

In short, the decision on whether a kid goes to college is more impacted by family finances than by academic achievement. The most academically marginal high income kid has about the same likelihood of going to college at the most academically stellar low income kid.

It is also true that lower income kids are much less likely to attend usually expensive selective colleges and universities, even if they are academically qualified to do so and are attending some college or university.

Bottom line: Like health care, we ration higher education based on ability to pay, not opportunity to benefit from receiving it.