RT Journal Article SR Electronic T1 The Role of Parental Wealth and Income in Financing Children's College Attendance and Its Consequences JF Journal of Human Resources JO J Hum Resour FD University of Wisconsin Press SP 1018-9828R2 DO 10.3368/jhr.1018-9828R2 A1 V. J. Hotz A1 Emily Wiemers A1 Joshua Rasmussen A1 Kate Maxwell Koegel YR 2021 UL http://jhr.uwpress.org/content/early/2021/08/31/jhr.1018-9828R2.abstract AB This paper examines the influence of parental wealth and income on children’s college attendance and parents’ financing decisions and on whether children graduate from college. We also examine whether parental financing affects the subsequent indebtedness of parents and children. We find that higher levels of parents’ wealth and income increase the likelihood that children attend college with financial support relative to not attending college, and that parental wealth increases the likelihood that children graduate from college. We show descriptive evidence that parents’ financing of their children’s college attendance increases parents’ subsequent indebtedness but does not reduce their children’s indebtedness, including their student loan debt.