Community Corner

American Dream May be Growing Dim for Low-Income Kids

Access to technology and education are key factors.

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.”

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The research showed that while most people are better off than their parents, some groups, such as African-Americans, are losing ground in the battle for economic equality.

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

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

In terms of education, a New York Times article reported that college-educated parents spent time with their kids at a rate double that of others since 1975 and that between 1972 and 2006, high-income families have increased their investment in “enrichment activities” for their children 150 percent, compared to only 57 percent for lower-income families.

There is also a huge disparity in what types of colleges high- verses low-income kids 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, including 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 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?


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