NORTHAMPTON, Mass. (WWLP) – Graduating college with a bachelors degree could have more to do with your families’ income than you might think.
According to a new Associated Press study, the amount of low-income students who earned a bachelors degree by age 24 rose from 6 percent to 9 percent since 1920.
For wealthier students, that percentage soared from 44 percent to 77 percent.
Smith College student Deana Tolstunov told 22News students who have trouble paying for college have a lot more stress than their peers. “Some people who need to take time off can’t come because it’s too expensive, and they stress about having a job to pay their loans more than I do because I have a job so that I can have spending money, rather than pay for school,” she said.
The reasons behind the gap range from low-income students not feeling ready for college to not being able to find transportation to class.
The likelihood of finishing a degree can also depend on the type of institution. Students from the poorest families are overrepresented in public two-year institutions, which tend to have lower completion rates, while those from wealthier families usually choose doctoral-granting institutions.