Family income now plays a crucial role in determining college entry.
The article explores how family income affects college entry decisions in the U.S. economy. By using a complex model, the researchers found that parents who expect lower future earnings tend to provide less financial support for their children's education. This leads to more households being constrained in their ability to afford college. Additionally, increasing uncertainty in parents' earnings reduces their willingness to provide financial assistance, further limiting college access for some students. Overall, the study shows that family income has become increasingly important for college access in recent decades.