Postsecondary Schooling and Parental Resources: Evidence from the PSID and HRS

TitlePostsecondary Schooling and Parental Resources: Evidence from the PSID and HRS
Publication TypeJournal Article
Year of Publication2018
AuthorsHaider, S, McGarry, KM
JournalEducation Finance and Policy
Volume13
Issue1
Pagination72-96
ISSN Number1557-3060
KeywordsEducation, Inequality, Parents, PSID
Abstract

We examine the association between young adult postsecondary schooling and parental financial resources using two datasets that contain high-quality data on parental resources: the Panel Study of Income Dynamics (PSID) and the Health and Retirement Study (HRS). We find the association to be pervasiveit exists for income and wealth, it extends far up the income and wealth distributions, it remains even after we control for a host of other characteristics, and it continues beyond simply beginning postsecondary schooling to completing a four-year degree. Using the Transition to Adulthood supplement to the PSID, we also find that financial resources strongly affect postsecondary schooling for all levels of high school achievement, and particularly for those at the highest level.

URLhttp://www.mitpressjournals.org/doi/abs/10.1162/edfp_a_00219http://www.mitpressjournals.org/doi/pdf/10.1162/EDFP_a_00219
DOI10.1162/edfp_a_00219
Short TitleEducation Finance and Policy
Citation Key9435