The Role of Parental Wealth and Income in Financing Children’s College Attendance and Its Consequences
Journal of Human Resources · 2021 · V. Joseph Hotz、Emily Wiemers、Joshua Rasmussen、Kate Maxwell Koegel
中文摘要
本文考察父母财富与收入对子女上大学、父母资助决策以及子女能否大学毕业的影响。我们还考察父母的资助是否会影响父母和子女此后的负债状况。我们发现,父母财富和收入水平越高,子女在获得经济资助的情况下上大学(相对于不上大学)的可能性越大,且父母财富会提高子女大学毕业的可能性。我们提供的描述性证据表明,父母为子女上大学提供资助会增加父母此后的负债,但并不会减少子女的负债,包括其助学贷款债务。
Abstract
This work examines the influence of parental wealth and income on children’s college attendance and parents’ financing decisions and on whether children graduate from college. We also examine whether parental financing affects the subsequent indebtedness of parents and children. We find that higher levels of parents’ wealth and income increase the likelihood that children attend college with financial support relative to not attending college and that parental wealth increases the likelihood that children graduate from college. We show descriptive evidence that parents’ financing of their children’s college attendance increases parents’ subsequent indebtedness but does not reduce their children’s indebtedness, including their student loan debt.