High-income kids who don’t graduate from college are 2.5 times more likely to end up rich than low-income kids who do get a degree
The above is from Matthew O’Brien’s article over at The Atlantic.
My own theory: 50 years ago, all you needed to be a successful, upper-middle class adult was a high school diploma and our taxes covered school to that point. Over these last 50 years, though, college had gone from being a luxury to just being the next step in our education but the system hasn’t responded. As college has become more common (and more necessary) it’s gotten more expensive not less.
Now, even if you’re from a low income household and able to get yourself a degree and a job, you’re still going to struggle for a long time because your going to be paying off that student debt for the first decade you’re out of school. For a lot of us, that means picking up the first job we can get even if it’s low-paying and/or not the job we want.
All of this, on top of what O’Brien writes about, are ensuring that the poor in America stay poor and the rich get richer and no one is doing anything to change that.