The College Wealth Divide Continues to Grow PDF Download

Author: Alina K. Bartscher
Publisher:
ISBN:
Category :
Languages : en
Pages : 3

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Book Description
The college wealth premium has increased threefold since the 1970s.

Author: Alina Bartscher
Publisher:
ISBN:
Category : Education, Higher
Languages : en
Pages : 27

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Book Description
Using new long-run micro data, this paper studies wealth and income trends of college and non-college households in the United States since 1956. We document the emergence of a substantial college wealth premium since the 1980s, which is considerably larger than the college income premium. Over the past four decades, the wealth of American households with a college-educated head has tripled. By contrast, the wealth of non-college households has barely grown in real terms over the same period. Part of the rising wealth gap can be traced back to systematic portfolio differences between college and non-college households that give rise to different exposures to asset price changes. Non-college households have a lower exposure to the equity market and have profited much less from the recent surge in the stock market. We also discuss the importance of financial literacy and business ownership for the increase in wealth inequality between college and non-college households.

Author: Stacy Dickert-Conlin
Publisher: Russell Sage Foundation
ISBN: 1610441567
Category : Business & Economics
Languages : en
Pages : 222

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Book Description
The vast disparities in college attendance and graduation rates between students from different class backgrounds is a growing social concern. Economic Inequality and Higher Education investigates the connection between income inequality and unequal access to higher education, and proposes solutions that the state and federal governments and schools themselves can undertake to make college accessible to students from all backgrounds. Economic Inequality and Higher Education convenes experts from the fields of education, economics, and public policy to assess the barriers that prevent low-income students from completing college. For many students from disadvantaged socioeconomic backgrounds, the challenge isn't getting into college, but getting out with a degree. Helping this group will require improving the quality of education in the community colleges and lower-tier public universities they are most likely to attend. Documenting the extensive disjuncture between the content of state-mandated high school testing and college placement exams, Michael Kirst calls for greater alignment between K-12 and college education. Amanda Pallais and Sarah Turner examine barriers to access at elite universities for low-income students—including tuition costs, lack of information, and poor high school records—as well as recent initiatives to increase socioeconomic diversity at private and public universities. Top private universities have increased the level and transparency of financial aid, while elite public universities have focused on outreach, mentoring, and counseling, and both sets of reforms show signs of success. Ron Ehrenberg notes that financial aid policies in both public and private universities have recently shifted towards merit-based aid, away from the need-based aid that is most helpful to low-income students. Ehrenberg calls on government policy makers to create incentives for colleges to increase their representation of low-income students. Higher education is often vaunted as the primary engine of upward mobility. Instead, as inequality in America rises, colleges may be reproducing income disparities from one generation to the next. Economic Inequality and Higher Education illuminates this worrisome trend and suggests reforms that educational institutions and the government must implement to make the dream of a college degree a reality for all motivated students.

Author: Sandy Baum
Publisher: Princeton University Press
ISBN: 0691171807
Category : Education
Languages : en
Pages : 264

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Why higher education is not a silver bullet for eradicating economic inequality and social injustice We often think that a college degree will open doors to opportunity regardless of one’s background or upbringing. In this eye-opening book, two of today’s leading economists argue that higher education alone cannot overcome the lasting effects of inequality that continue to plague us, and offer sensible solutions for building a more just and equitable society. Sandy Baum and Michael McPherson document the starkly different educational and social environments in which children of different races and economic backgrounds grow up, and explain why social equity requires sustained efforts to provide the broadest possible access to high-quality early childhood and K–12 education. They dismiss panaceas like eliminating college tuition and replacing the classroom experience with online education, revealing why they fail to provide better education for those who need it most, and discuss how wages in our dysfunctional labor market are sharply skewed toward the highly educated. Baum and McPherson argue that greater investment in the postsecondary institutions that educate most low-income and marginalized students will have a bigger impact than just getting more students from these backgrounds into the most prestigious colleges and universities. While the need for reform extends far beyond our colleges and universities, there is much that both academic and government leaders can do to mitigate the worst consequences of America’s deeply seated inequalities. This book shows how we can address the root causes of social injustice and level the playing field for students and families before, during, and after college.

Author: Dorothy A. Brown
Publisher: Crown
ISBN: 0525577335
Category : Social Science
Languages : en
Pages : 289

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A groundbreaking exposé of racism in the American taxation system from a law professor and expert on tax policy NAMED ONE OF THE BEST BOOKS OF THE YEAR BY NPR AND FORTUNE • “Important reading for those who want to understand how inequality is built into the bedrock of American society, and what a more equitable future might look like.”—Ibram X. Kendi, #1 New York Times bestselling author of How to Be an Antiracist Dorothy A. Brown became a tax lawyer to get away from race. As a young black girl growing up in the South Bronx, she’d seen how racism limited the lives of her family and neighbors. Her law school classes offered a refreshing contrast: Tax law was about numbers, and the only color that mattered was green. But when Brown sat down to prepare tax returns for her parents, she found something strange: James and Dottie Brown, a plumber and a nurse, seemed to be paying an unusually high percentage of their income in taxes. When Brown became a law professor, she set out to understand why. In The Whiteness of Wealth, Brown draws on decades of cross-disciplinary research to show that tax law isn’t as color-blind as she’d once believed. She takes us into her adopted city of Atlanta, introducing us to families across the economic spectrum whose stories demonstrate how American tax law rewards the preferences and practices of white people while pushing black people further behind. From attending college to getting married to buying a home, black Americans find themselves at a financial disadvantage compared to their white peers. The results are an ever-increasing wealth gap and more black families shut out of the American dream. Solving the problem will require a wholesale rethinking of America’s tax code. But it will also require both black and white Americans to make different choices. This urgent, actionable book points the way forward.

Author: Robert Samuels
Publisher: Routledge
ISBN: 1351619489
Category : Education
Languages : en
Pages : 167

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Book Description
Politicians and school officials often argue that higher education is the solution to many of our social, and economic problems. Educating Inequality argues that in order to reduce inequality and enhance social mobility, public policies are needed to revamp the financial aid system and increase the number of good jobs. Exploring topics such as the fairness of the current social system, the focus on individual competition in an unequal society, and democracy and capitalism in higher education, this important book seeks to uncover the major myths that shape how people view higher education and its relation to the economy. Looking to models that generate economic mobility and social equality, this book advocates a broader vision for public higher education to promote universal equality and global awareness.

Author: Richard D. Kahlenberg
Publisher: Century Foundation Books (Cent
ISBN: 9780870785160
Category : Education
Languages : en
Pages : 0

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" "Rewarding Strivers" presents provocative research and analysis that provides a blueprint for the way forward."--William R. Fitzsimmons, Dean of Admissions, Harvard University "The terrible 'secret' of higher education in America is that too few students from poorer families have access to it.... Kahlenberg again gathers the best thinkers on how to challenge this status quo."--Anthony Marx, President, Amherst College Today, higher education is a major force in promoting social mobility, yet colleges and universities seem more concerned with prestige than finding ways to make higher learning more accessible. Rewarding Strivers outlines two high-profile models that colleges and universities can follow in making the American Dream a realistic one for all students. Former New York Times education writer Edward B. Fiske (author of The Fiske Guide to Colleges) explores an exciting new effort to provide extra financial aid and academic support to low-income students at the University of North Carolina at Chapel Hill. He finds that the "Carolina Covenant" has much to teach public and private universities across the country. In order to benefit from financial aid and support, low-income students first must be admitted to college. In a chapter that is likely to prove highly controversial, Georgetown University's Anthony Carnevale and Jeff Strohl articulate a coherent and concrete way for colleges and universities to provide a leg up to economically disadvantaged students in selective college admissions. The authors make an important contribution to the nation's raging debate over affirmative action by calling on universities to expand preferences beyond race to also include socioeconomic status, and outlining how such a program could work in practice.

Author: Matthew Stewart
Publisher: Simon and Schuster
ISBN: 1982114207
Category : Social Science
Languages : en
Pages : 352

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Book Description
A “brilliant” (The Washington Post), “clear-eyed and incisive” (The New Republic) analysis of how the wealthiest group in American society is making life miserable for everyone—including themselves. In 21st-century America, the top 0.1% of the wealth distribution have walked away with the big prizes even while the bottom 90% have lost ground. What’s left of the American Dream has taken refuge in the 9.9% that lies just below the tip of extreme wealth. Collectively, the members of this group control more than half of the wealth in the country—and they are doing whatever it takes to hang on to their piece of the action in an increasingly unjust system. They log insane hours at the office and then turn their leisure time into an excuse for more career-building, even as they rely on an underpaid servant class to power their economic success and satisfy their personal needs. They have segregated themselves into zip codes designed to exclude as many people as possible. They have made fitness a national obsession even as swaths of the population lose healthcare and grow sicker. They have created an unprecedented demand for admission to elite schools and helped to fuel the dramatic cost of higher education. They channel their political energy into symbolic conflicts over identity in order to avoid acknowledging the economic roots of their privilege. And they have created an ethos of “merit” to justify their advantages. They are all around us. In fact, they are us—or what we are supposed to want to be. In this “captivating account” (Robert D. Putnam, author of Bowling Alone), Matthew Stewart argues that a new aristocracy is emerging in American society and it is repeating the mistakes of history. It is entrenching inequality, warping our culture, eroding democracy, and transforming an abundant economy into a source of misery. He calls for a regrounding of American culture and politics on a foundation closer to the original promise of America.

Author: Robert Williams
Publisher: Routledge
ISBN: 1315395568
Category : Business & Economics
Languages : en
Pages : 270

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Book Description
The American Dream is under assault. This threat results not from a lack of means, but from an unwillingness to share. Total household wealth increased by half in the past generation, but barely one fifth of American households captured this new wealth. For the rest, the dream of owning a home, gaining a secure retirement, and ensuring a college education for their kids is disappearing. Worse still, the widening wealth divide largely tracks our racial fault lines. The Privileges of Wealth investigates the impact of the rising concentration of wealth. It describes how households accumulate wealth along three pathways: household saving, appreciation of assets, and family gifts and inheritances. In addition, federal wealth policies, in the form of assorted tax deductions and credits, act as a fourth pathway that favors wealthy households. For those with means, each pathway operates as a virtuous cycle enabling families to build wealth with increasing ease. For those without, these same pathways are experienced as vicious cycles. The issue of wealth privilege is even more pronounced when examining the racial wealth gap. Typically, White households own ten times the wealth of Black or Latino families. This chasm results from the durability and transferability of wealth across generations and serves as a persistent legacy of our history of racial enslavement, expropriation, and exclusion. Current policies favoring the wealthy are simply cementing these wealth disparities. This book explains how these sources of wealth privilege are systemic features of our economy and the basis of rising disparities. The arguments and evidence presented here offer a compelling case for how our current policies are undermining the American Dream for most Americans while fortifying a White plutocracy, with dire consequences for us all.

Author: Marybeth Gasman
Publisher: Routledge
ISBN: 0415892740
Category : Education
Languages : en
Pages : 177

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Book Description
To help move fundraising staff away from a "one size fits all" approach, this book provides a comprehensive overview of philanthropy in diverse cultures, including Latinos, African Americans, Native Americans, and Asian Americans.