Fast FactMDRC - Fast Fact: Does Education Increase Economic Mobility?
Does Education Increase Economic Mobility?It is an article of faith in the United States that more education leads to greater earnings, and the data back it up. In 2005, for instance, college graduates earned $25,000 more on average than high school graduates. A two-year associate’s degree brought an average annual premium of $8,500 over a high school diploma.However, family background also plays an important role in determining one’s educational trajectory and economic success as an adult, according to a new Brookings Institution report, Getting Ahead or Losing Ground: Economic Mobility in America, by Ron Haskins, Julia B. Isaacs, and Isabel Sawhill. Not only are the children of relatively well-off parents more likely to earn more as adults, but they are more likely to get a college degree than children of parents with lower incomes (as the figure below demonstrates). The policy challenge is to make it possible for more young people from the bottom quintiles of the family income distribution to access higher education and succeed in college.
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