ABSTRACT
This chapter argues that the impact of a degree on college graduates from low-income families as a group in terms of subsequent wages and other indictors of social mobility is less significant than for those from more advantaged groups. It illustrates the lessened impact of a degree on college graduates from low-income families compared to more advantaged groups. Generally, there is a correlation between a college degree and higher levels of income, and the economic gap between those with and without degrees increases over a lifetime. The financial impact of a college degree as measured by average income differs significantly by ethnicity, used here as an indicator of class. In sum, national data indicate that there is an association between a college degree and higher levels of income that increases over a lifetime. The stories from alumni demonstrate how college degrees during the decade following World War II were valued and benefited students in direct ways.
