The Secret to Graduating from College

I read this discouraging bit of news today at TheDish.

Rich kids graduate; poor and working-class kids don’t. Or to put it more statistically: About a quarter of college freshmen born into the bottom half of the income distribution will manage to collect a bachelor’s degree by age 24, while almost 90 percent of freshmen born into families in the top income quartile will go on to finish their degree. When you read about those gaps, you might assume that they mostly have to do with ability. Rich kids do better on the SAT, so of course they do better in college. But ability turns out to be a relatively minor factor behind this divide. If you compare college students with the same standardized-test scores who come from different family backgrounds, you find that their educational outcomes reflect their parents’ income, not their test scores.