PT  - JOURNAL ARTICLE
AU  - Joseph Hotz, V.
AU  - Wiemers, Emily E.
AU  - Rasmussen, Joshua
AU  - Koegel, Kate Maxwell
TI  - The Role of Parental Wealth and Income in Financing Children’s College Attendance and Its Consequences
AID  - 10.3368/jhr.1018-9828R2
DP  - 2023 Nov 01
TA  - Journal of Human Resources
PG  - 1850--1880
VI  - 58
IP  - 6
4099  - http://jhr.uwpress.org/content/58/6/1850.short
4100  - http://jhr.uwpress.org/content/58/6/1850.full
SO  - J Hum Resour2023 Nov 01; 58
AB  - This work 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.