Society May Get Stuck With the Bill for Expensive Higher Education
ScienceDaily (Dec. 14, 2011)— The rising cost of a college education and limited access to financial aid may create a less productive workforce and steeper wealth inequity, according to a study by two North American economists.
Students with low-income parents are discovering that it is more difficult to find funds to pay for a college education now compared to students of similar economic backgrounds in the 1980s, said Alexander Monge-Naranjo, assistant professor of economics, Penn State.
"The consensus was that in the 1980s, credit constraints didn't seem to matter for those who went to college," said Monge-Naranjo. "But according to the latest data, we see family income and parental wealth are making a big difference in who is attending college."
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