Numerous studies have correlated educational attainment with wealth attainment. Earning at least a bachelor's degree is associated with better economic outcomes, including higher wages and lower rates of unemployment. However, a study by Pew Research Center revealed an economic disparity between first generation college graduates versus those who had at least one college-educated parent.
Among the findings from their report on First-Generation College Graduates Lag Behind Their Peers on Key Economic Outcomes:
- First-Generation students are less likely to complete a degree.
- Those who do graduate earn considerably less and are more likely to have greater amounts of education debt.
- They are also more likely to have attended either a less selective institution or one that is private, for-profit.