The Association between Parental Education Level and Adulthood Financial Success

Live Poster Session: https://wesleyan.zoom.us/j/93244028137

Jackson Bright
Jackson Bright

Jackson Bright is a freshman at Wesleyan University from Cumberland, Rhode Island. He is interested in pursuing degrees in both Economics and Spanish with a minor in Data Analysis. Jackson seeks fluency in Spanish over the next few years to broaden his understanding of Economics and market trends on a global level. His research interests include personal finances and the steps those in lower socio-economic classes must take to reach a better financial future.

Abstract: Promises have been continuously made by universities throughout the United States that a degree will lead to financial successes in the future, however, with the price tag of this educative process being as expensive as it is today, should the average citizen risk accumulating substantial debt for an overpriced education to provide for themselves and their future children, who will rely on their parents’ financial stability? Generational wealth may be explained by education levels, which therefore could explain how some families may not need to worry about a specific price tag of a college education. Moreover, these generational trends may lead to the widely-held sentiment that parental education level contributes directly to occupational and educational success for the younger generations (Dubow et al., 2009). On the other hand, understanding the correlation between financial success and parental education level may be crucial to addressing poverty in America, as longitudinal study data has suggested that poverty levels in the US trend with the status of the economy throughout generations (Chaudry, et al., 2016). Could children of parents without a college education be at a greater disadvantage financially than children whose parents are college-educated, and can these advantages and disadvantages be explained through generational differences?

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