Table 1.
Wealth and income gaps in education
| Change in Probability
Compared With Lowest Quintile (SE) |
||||
|---|---|---|---|---|
| Uncontrolled | Controlled | |||
| High School Graduation | ||||
| Wealth quintile | ||||
| 2nd | 0.0553* | (0.0259) | −0.0053 | (0.0228) |
| 3rd | 0.1315*** | (0.0246) | 0.0456† | (0.0240) |
| 4th | 0.1640*** | (0.0239) | 0.0574* | (0.0264) |
| Highest | 0.1830*** | (0.0237) | 0.0643* | (0.0302) |
| Income quintile | ||||
| 2nd | 0.0960*** | (0.0266) | 0.0358 | (0.0234) |
| 3rd | 0.1509*** | (0.0251) | 0.0456† | (0.0260) |
| 4th | 0.1934*** | (0.0236) | 0.0783** | (0.0277) |
| Highest | 0.2063*** | (0.0239) | 0.0715* | (0.0317) |
| College Attendance | ||||
| Wealth quintile | ||||
| 2nd | 0.0871*** | (0.0261) | 0.0321 | (0.0307) |
| 3rd | 0.1729*** | (0.0279) | 0.0626† | (0.0324) |
| 4th | 0.2749*** | (0.0276) | 0.1011** | (0.0357) |
| Highest | 0.3214*** | (0.0283) | 0.0839* | (0.0380) |
| Income quintile | ||||
| 2nd | 0.1124*** | (0.0265) | 0.0684* | (0.0320) |
| 3rd | 0.2192*** | (0.0261) | 0.1186*** | (0.0333) |
| 4th | 0.2663*** | (0.0268) | 0.1139** | (0.0360) |
| Highest | 0.4083*** | (0.0259) | 0.1996*** | (0.0413) |
| College Degree | ||||
| Wealth quintile | ||||
| 2nd | 0.0499* | (0.0213) | 0.0042 | (0.0293) |
| 3rd | 0.1323*** | (0.0233) | 0.0153 | (0.0298) |
| 4th | 0.2730*** | (0.0262) | 0.0606† | (0.0315) |
| Highest | 0.4460*** | (0.0287) | 0.1048** | (0.0347) |
| Income quintile | ||||
| 2nd | 0.0642*** | (0.0173) | 0.0378 | (0.0295) |
| 3rd | 0.1621*** | (0.0224) | 0.0826* | (0.0325) |
| 4th | 0.3194*** | (0.0260) | 0.1295*** | (0.0345) |
| Highest | 0.4979*** | (0.0265) | 0.1659*** | (0.0386) |
| College Degree Conditional on Attendance | ||||
| Wealth quintile | ||||
| 2nd | 0.0695† | (0.0403) | –0.0101 | (0.0444) |
| 3rd | 0.1430*** | (0.0395) | –0.0148 | (0.0474) |
| 4th | 0.2664*** | (0.0393) | 0.0505 | (0.0475) |
| Highest | 0.4263*** | (0.0380) | 0.1071* | (0.0517) |
| Income Quintile | ||||
| 2nd | 0.0796* | (0.0363) | 0.0325 | (0.0485) |
| 3rd | 0.1802*** | (0.0395) | 0.0775 | (0.0531) |
| 4th | 0.3493*** | (0.0396) | 0.1410* | (0.0560) |
| Highest | 0.4640*** | (0.0377) | 0.1583** | (0.0579) |
Notes: Standard errors, shown in parentheses, are robust and clustered by PSID family lineage. Controlled = average marginal effects with controls for individuals’ family background (family wealth, family income, parental occupational status, parental education, household size, number of children in the household, whether household head is married, and mother’s age), gender, and whether they have established their own household by age 20/25 (see also Table 4 in Appendix A).
†
p < .10;
*
p < .05;
**
p < .01;
***
p < .001