College, The rich kids club?

The top 1% are over represented in some colleges

College is assumed to be the great equalizer, but according to a recent report from the New York Times some are more of a club for the top 1% than a pathway to prosperity for the bottom 60% of lower income households.

In total, after reviewing millions of tax filings, the Equality of Opportunity Project found 38 elite colleges had more students from the top 1% than the bottom 60% of students by parents income. While this statistic is not representative of all colleges, it shows an increasing dependance on wealthy students subsidizing others. Example, in a number of colleges the acceptance of internationally students has doubled, in part because they pay full-price and do not qualify for federal aid.

On the contrary, California State, CUNY, and SUNY colleges show to be one of the best places for upward mobility for students. With the increasing cost of college and growing debt burden, we need new ways to educate the future of our country. Our startup Caila, is aiming to increase access by enabling people to take individual classes as they can afford it. Key colleges highlighted in the Equality of Opportunity Project are making strides. More work needs to be done — lets keep supporting organizations and colleges that are increasing access for students regardless of their socioeconomic status.

By Sergio Marrero

Co-Founder, Caila