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,/ate ,univ]s;y ( ,new ,york
,college at ,bu6alo
,de"p;t ( ,appli$ ,economics & ,f9.e


,! ,gap ,2t ,family ,9come
,& ,gradua;n ,rates


,a ,!sis 9
,appli$ ,economics & ,f9.e


,by3


,kaylee ,gatto


,submitt$ 9 ,"pial ,fulfill;t
,( ! ,require;ts
,= ! ,degree (


,ma/] ( ,>ts
,decemb] #bjbj

,ab/ract

,family 9come has det]m9$ to h a significant e6ect on gradua;n rates = /ud5ts4 ,a family's 9come c impact _m aspects ( a /ud5t's life4 ,"! has be5 num]\s /udies p]=m$ on ! e6ect t family 9come has on /ud5t's gradua;n rates4 ,? !sis focuses on ! hypo!sis t /ud5ts :o come f families ) hi<] 9come >e m likely to su3e$ & graduate ?an ^? f l[] 9come families4 ,? !sis focuses on h[ family 9come e6ects ^! /ud5ts & 9 :at ways4 ,? !sis %[s ! di6];es t hi< 9come & l[ 9come /ud5ts face4 ,! f9d+s p]=m$ 9 ? !sis h %[n t family 9come 9 fact does h a significant e6ect on gradua;n rates4 ,f9d+s al h %[n t race plays a role 9 gradua;n rates z well4 ,? !sis w g 9to grt] detail on gradua;n rates bas$ on family 9come & race4

,/ate ,univ]s;y ( ,new ,york
,college at ,bu6alo
,de"p;t ( ,economics & ,f9.e


,! ,gap ,2t ,family ,9come & ,gradua;n ,rates
,a ,!sis 9 ,appli$ ,economics
,by3 ,kaylee ,gatto
,ma/] ( ,>ts
,decemb] #bjbj

,dates ( ,approval3
.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.- <|'> <|'> <|'> <|'> <|'> <|'> <|'> <|'> <|'> <|'> <|'> <|'> <|'> <|'> <|'> <|'> <|'> <|'> <|'> <|'> .-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-
,fr$]ick ,floss1 ,ph4,d4
,pr(essor & ,*air ( ,economics @& ,f9.e
,!sis ,advisor
.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.- <|'> <|'> <|'> <|'> <|'> <|'> <|'> <|'> <|'> <|'> <|'> <|'> <|'> <|'> <|'> <|'> <|'> <|'> <|'> <|'> .-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-
,kev9 ;,j4 ,mill]1 ,$4,d4
,d1n ( ! ,graduate ,s*ool

,3t5ts

,9troduc;n3 -- #e ,sec;n #a3 ,lit]ature -- #aj ,sec;n #b3 ,loans & ,grants -- #ah ,sec;n #c3 ,regres.n -- #bi ,sec;n #c4a3 ,! ,,m1ns ,proc$ure -- #bi ,sec;n #c4b3 ,! ,univ>iate ,proc$ure = ,prop ,tax -- #ca ,sec;n #c4c3 ,! ,univ>iate ,proc$ure = ,exp ,$ -- #ch ,sec;n #c4d3 ,! ,univ>iate ,proc$ure = ,m$ ,9c -- #dj ,sec;n #c4e3 ,! ,univ>iate ,proc$ure = ,grad ,rate -- #da ,sec;n #c4f3 ,! ,,reg ,proc$ure -- #dc ,sec;n #c4g3 ,! ,,autoreg ,proc$ure -- #dg ,3clu.n3 -- #ej ,ref];es -- #ec

,9troduc;n3

,9 prior g5]a;ns1 e>n+ a hi< s*ool diploma 0 su6ici5t 5 = ! av]age p]son to a*ieve a middle class 9come4 ,9 td's society1 9 ord] = mo/ 9dividuals to h a c>e] t he or %e w obta9 a middle class 9come he or he m/ e>n a hi<] degree ( $uca;n4 ,9dividuals a*ieve e>n+ a middle class 9come or hi<] by fur!r+ _! $uca;n & att5d+ college to obta9 a degree s* z a ,ba*elors1 ,ma/]s1 or ,doctorate degree4 ,apply+ to college is an ov]:elm+ exp]i;e = any"o :o is ( 9t]e/ 9 att5d+ college4 ,"s /ud5ts h an advantage ov] o!r /ud5ts /rictly bas$ ( _! families,0 9come4 ,a family's 9come has a significant e6ect on /ud5t's su3ess 9 college & prep>a;n = college4 ,"! is a gap 2t ^? hi< 9come families & l[ 9come families4 ,"?\t ? pap] ! gap 2t hi< & l[ 9come families w 2 4cuss$ 9 grt] detail4

,hi< 9come families >e able to provide _! *n ) ! tools !y ne$ 9 ord] to prep>e = college4 ,s* tools 9clude pay+ = ! college applica;ns & provid+ hm or h] ) addi;nal assi/.e s* z tutors to help !m ) _! classes & ,,sat prep4 ,? is an advantage = ^! /ud5ts 2c !y >e able to "w h>d] & get 9to bett] colleges1 : ultimately sets !m up = a hi<] su3ess rate4 ,? is 2c ^! /ud5ts >e able to get 9to hi<] gradua;n rate colleges4 ,:ile att5d+ a hi<] gradua;n rate college1 /ud5ts >e m focus$ on a*iev+ ! goal ( su3ess;lly completely _! degree4 ,^! hi<] gradua;n colleges al a3ept only ! be/ c&idates to att5d _! college4 ,a /ud5t :o has l[ grades 9 hi< s*ool1 >e n go+ to 2 a3ept$ 9to ! same college t a /ud5t :om e>ns hi< grades 9 hi< s*ool4 ,? "pially has to d ) ! type ( family ^! /ud5ts come f4 ,/ud5ts :o e>n hi< grades >e typically ! /ud5ts :o c>e ab s*ool & h _! families :om >e 9volv+ 9 _! daily life & s*ool "w4 ,l[] 9come family /ud5ts may n h ! advantage ( hav+ _! families z 9volv$ 9 ! s*ool "w z hi<] 9come families4

,e>n+ a college degree af hi< s*ool gradua;n is an opportun;y _m 9dividuals 9t5d to a3ompli%4 ,"! >e num]\s r1sons 9 : an 9dividual *oses to att5d college & e>n a degree4 ,mo/ 9dividuals want a college degree 2c he or %e wants to excel 9 life & 2 su3ess;l e>n+ an 9come ": he or %e >e able to support !mvs & _! families4 ,al1 mo/ p m/ obta9 a hi<] degree ( $uca;n 9 ord] to 2 3sid]$ a middle-9come class p]son & c b>ely make 5ds meet ) a m9imum wage or l[ sal>y job4 ,al?1 a hi<] 9come c>e] c 2 a3ompli%$ )\t a college degree1 x has 2come m* m di6icult to obta9 a hi<] pay+ c>e] ) no sort ( $uca;n o!r ?an a hi< s*ool diploma4 ,_m c>e]s t pay m ?an a middle class 9come require t an 9dividual has a degree 9 t specific field4

,_m 9dividuals *oose to att5d college af hi< s*ool gradua;n 9 ord] to obta9 a hi<] degree ( $uca;n 2c $uca;n is s significant 9 society td4 ,e>n+ a hi<] $uca;n is a goal "s 9dividuals pursue af hi< s*ool gradua;n 2c he or %e feels su3ess;l & ga9s a rew>d+ feel+ once a college degree is rcvd4 ,e>n+ a college degree is a huge a3ompli%;t & a rew>d+ degree ( a*ieve;t once complet$4 ,:5 an 9dividual has a college degree he or %e is look$ at 9 a di6]5t manor4 ,:5 college $uca;n is %[n on an 9dividual's resume :ile apply+ to an op5 posi;n = a c]ta9 job1 ? makes !m /& \ & 2 notic$ by employ]s4 ,employ]s look = college $uca;n 9 alm e job4 ,) no college $uca;n1 "s 9dividuals may n qual;y = c]ta9 jobs4 ,9dividuals ) no college degree mi ,an 9dividual may *oose to hi<] _! $uca;n = num]\s r1sons4 ,"o ( ! ma9 r1sons is to improve _! future & get a c>e] 9 a posi;n ( _! 9t]e/4 ,9 a _w full ( competi;n1 x has 2come v di6icult = p to f9d a hi< e>n+ c>e]1 ev5 ) a college degree4 ,l&+ a job ev5 af gradua;n cd 2 a /ru7le = come 9dividuals 2c ! job field has 2come m & m competitive4 ,"s /ud5ts may take a pay cut & a3ept a job t is n ev5 9 _! field ( $uca;n4 ,? is se5 s (t5 2c af gradua;n1 f9d+ a job has 2come /ress;l & competitive4 ,job 9t]view]s look at _m di6]5t aspects on a p]son's resume1 $uca;n 2+ "o ( ! ma9 items1 foll[$ by exp]i;e4 ,"! may 2 "o op5 posi;n = a job ) hundr$s ( applicants1 : makes f9d+ a job af college di6icult = _m /ud5ts4 ,9dividuals may f9d !mvs 9t]view+ = mon?s 2f l&+ a job1 : may n ev5 2 _! 8dr1m job40

,al? att5d+ college is a grt opportun;y = all /ud5ts1 mak+ ! deci.n to att5d college al comes ) an exp5se4 ,"! >e _m factors /ud5ts h to ?9k ab :5 *oos+ :at colleges to apply to & : college !y want to att5d once !y h be5 a3ept$4 ,"s ( ^! factors may 9clude ! co/ ( tui;n & *oos+ to att5d a public or private univ]s;y4 ,9 ord] = mo/ /ud5ts :o d n h ! advantage ( _! p>5ts assi/+ 9 pay+ = _! tui;n1 ^! /ud5ts m/ f9.e _! $uca;n4 ,! av]age /ud5t _c pay 5tirely \ ( pocket to att5d college4 ,:5 ^! /ud5ts gradua;n college !y >e fac$ ) a trem5d\s am.t ( /ud5t loan debt1 : puts a f9ancial burd5 on _! future4 ,! /ud5ts t d n h ! assi/.e f _! p>5ts t "s o!r /ud5ts d1 may f9d !mvs unable to complete college due to hav+ to drop \ ( college = p]sonal r1sons4 ,"s ( ^! r1sons may 2 2c !y >e unable to focus completely on _! $uca;n due to !m hav+ to "w :ile 3t9u+ _! $uca;n & att5d+ classes4 ,/ud5ts t >e =tunate 5 to h _! p>5ts pay = _! college has a grt] advantage ( 2+ able to focus on _! s*ool "w & n worry or /ress ab f9ancial exp5ses4

,:5 decid+ ": to att5d college1 /ud5ts >e fac$ ) _m di6]5t op;ns1 : 9clude di6]5t types ( m1l plans1 liv+ on or (f campus1 private or public univ]sities1 & :at s*ol>%ips !y 9t5d to apply =4 ,s*ol>%ips >e b5eficial to /ud5ts1 al? "! >e _m /ud5ts t may n h ! advantage to get c]ta9 s*ol>%ips4 ,= example1 "s /ud5ts may 2 provid$ ) ! opportun;y to get c]ta9 a?letic s*ol>%ips4 ,? ties 9 to /ud5ts :o come f well 9come families hav+ a bett] advantage ?an ^? /ud5ts :o may n come f a w1l?y family4 ,w1l?y families w 2 able to provide _! *n to att5d di6]5t sport camps & hire private a?letic tra9]s t help !m bett] !mvs 9 a c]ta9 sport & le>n ! requir$ skills t college recruit]s look =4 ,! same goes = academic s*ol>%ips4 ,/ud5ts f w1l?i] families >e able to get ! private t1*+ lessons !y ne$ & may h p>5ts t >e m devot$ 9to _! s*ool"w4 ,^! p>5ts sp5d qual;y "t ) ! *n at ni ,ano!r topic ( 9t]e/ is ! di6];e 9 ! am.t ( f9ancial aid (f]$ to di6]5t families bas$ on _! 9come4 ,:y >e "s /ud5ts (f]$ grants1 s*ol>%ips1 & loans :ile o!rs >e n giv5 ! opportun;y8 ,x is obvi\s t "s /ud5ts w get (f]$ m f9ancial aid bas$ on _! family 9come4 ,x c dep5d if a /ud5t's p>5t is s+le or divorc$ & ! am.t ( 9come _! family has p] ye>4 ,a /ud5t :o has a s+le p>5t & makes m9imum wage is go+ to 2 (f]$ m assi/.e ?an a /ud5t ^: p>5ts make six figures & >e n sep>at$4 ,^! families w 2 (f]$ less assi/.e 2c x is assum$ t !y w 2 able to pay = college !mvs )\t assi/.e4 ,families t h a hi< am.t ( 9come may 2 (f]$ ll to no assi/.e ) /ud5t loans4 ,? cd cause di6iculties = ! /ud5t1 z !y w h to take \ m private loans !mvs if _! families >e unable to fully pay = _! college exp5ses4 ,/ud5ts may !n h to f9.e _! tui;n "? private loans4 ,private loans may 2 di6icult to 2 approv$ = & may n (f] ! exact am.t to cov] /ud5t exp5ses4

,! f9al topic ( 9t]e/ is h[ _m /ud5ts :om g to college complete _! c\rses & graduate4 ,a /ud5t may decide to g to college1 b only complete "o or two ye>s ( college 2f !y decide to drop \ or n 3t9ue to att5d college4 ,"s ( ^! /ud5ts >e =c$ to drop \ ( college4 ,!y may decide to n complete college = num]\s r1sons1 s* z n 2+ able to rcv 5 /ud5t loans1 2+ =c$ to drop \ due to unsatisfactory grades1 los+ 9t]e/ 9 _! major1 or p]sonal r1sons4 ,"s /ud5ts h to completely pay = _! college !mvs ) ll to no help1 : may l1d !m to hav+ to drop \ ( college & n complet+ _! c\rses4 ,"s o!r r1sons may 9clude t !y >e a s+le p>5t & unable to provide = _! *n :ile att5d+ college4

,! purpose ( ? rese>* pap] is to "u/& ! gap 2t college gradua;n rates & family 9come4 ,"?\t "t1 rese>* has be5 p]=m$ on ! gradua;n rates ( ! ri* & ! poor & h[ family 9come 3tributes to ?4 ,"s ( ! "qs t w 2 address$ "?\t ? rese>* pap] >e z foll[s4 ,h[ is family 9come relat$ to gradua;n rates8 ,h[ is family 9come 3tribut$ to ": a /ud5t att5ds college8 ,:at is ! gradua;n rate ( /ud5ts :o get f9ancial aid8 ,h[ >e gradua;n rates relat$ to family 9come8 ,:at type ( f9ancial assi/.e is (f]$ to /ud5ts :o att5d college8 ,h[ does race h an impact on gradua;n rates8 ,family 9come & race h a major e6ect on gradua;n rates 9 college4 ,:ile p]=m+ rese>* on s* topics1 _m au?ors h d"o _! [n rese>* on family 9come 9 rela;n to gradua;n rates & h[ race a6ects gradua;n rates z well4 ,"?\t ? pap] di6]5t rese>* pap]s & >ticles w 2 4cuss$ on ! topic ( gradua;n rates 9 rela;n to family 9come & race4

,sec;n #a3 ,lit]ature

,"! h be5 num]\s pap]s writt5 on gradua;n rates & h[ family 9come a6ects ^! gradua;n rates4 ,al1 h[ family 9come a6ects /ud5ts 9 g5]al reg>d+ _! s*ool+4 ,/ud5ts may n r1lize h[ family 9come a6ects ! gradua;n rate ( college /ud5ts4 ,a family's 9come sets up a /&>d expecta;n ( a *'s su3ess4 ,if a * comes f a l[ 9come family ^: p>5ts h no college $uca;n1 he or %e w likely n fur!r _! $uca;n ei4 ,p>5ts >e sett+ an example = _! *n t fur!r+ "os $uca;n is n a require;t4

,! foll[+ p>agraphs provide lit]ature bas$ on ! gradua;n gap relat$ to family 9come & on /ud5t loan debt by di6]5t au?ors4 ,! h al provid$ h[ family 9come has an e6ect on /ud5ts s*ool "w4 ,! foll[+ p>agraphs >e bas$ on ! di6]5t lit]ature 4cov]$ & :at o!r p >.d ! _w h rese>*$ reg>d+ ! topic ( gradua;n rates & family 9come4 ,rese>* on :at has be5 3duct$ by o!r au?ors on ! topic ( gradua;n rates & family 9come & :at !y h 3clud$ f _! [n rese>*4 ,^! r1d+s >e 9t]e/+ & "kl$g1ble4 ,^! rese>* pap]s 7 help;l to see :at o!r p >.d ! _w h writt5 & rese>*$ reg>d+ ? topic4 ,:ile p]=m+ rese>* ,i h ga9$ k bas$ on ! topic ( 4cus.n & r1liz$ h[ m* ( an impact family 9come does 9 fact h on gradua;n rates4

,! foll[+ p>agraphs w al 4cuss topics on /ud5t loan debt4 ,_m /ud5ts >e fac$ ) a trem5d\s am.t ( /ud5t loan debt af gradua;n4 ,? ties 9to ! rela;n ( family 9come4 ,/ud5ts )\t ! f9ancial support ( _! families may h to completely f9.e _! $uca;n z _m /ud5ts d4 ,_m /ud5ts su6] ) /ud5t loan debt af ! comple;n ( ! degree1 & "s"ts )\t ev5 complet+ _! degree due to hav+ to job \ ( college = v>i\s r1sons4 ,n e /ud5t t goes to college completes _! degree1 b >e / fac$ ) /ud5t's loans t !y h borr[$ = s*ool4 ,ev5 )\t complet+ _! degree1 /ud5ts >e requir$ to pay back ! m"oy t !y borr[$4

,! f/ rese>* pap] "kn z 8,family ,9come & ! ,college ,comple;n ,gap10 writt5 by ,alanna ,bjorklund-,"y ( ,john ,hopk9s ,s*ool ( ,$uca;n writt5 9 ,m>* ( #bjaf4 a ,alanna ,bjorklund ,ìA ,"y4 8,family ,9come & ! ,college ,comple;n ,gap4 ,$policy4<|->$uca;n4<|->jhu4$u "<,m>* #bjaf">4,throughout h] rese>* pap] ! au?or 4cuss$ h[ family 9come 3tributes to ! gradua;n rates ( college /ud5ts4 ,%e 4cuss$ ! import.e ( p 9 ! #aigjs n hav+ to att5d college 9 ord] to 2come a middle class 9come family4 ,! av]age family cd h a middle class 9come ) only a hi< s*ool diploma 2c college simply wasn't z dem&+ z x is td4 ,back dur+ ! "t ( ! #aigjs1 a h\sehold didn't ne$ two family 9comes 9 ord] to survive & provide = _! family4 ,dur+ ? "t1 necessities s* z c>s & homes 7 al n z exp5sive z !y >e td4 ,td1 mo/ h\seholds ne$ 9comes f bo? ! husb& & wife 9 ord] to live a com=table life2 ":as 9 ! e>li] "t frame wom5 7 able to /ay home ) ! *n4 ,9 fact1 #fj.0 ( p 7 able to obta9 a middle class 9come dur+ ? "t ) j a hi< s*ool diploma4 ,bjorklung-,"y /ates t 9 #bjjg ? numb] fell to #de.04 ,? is a significant decr1se 9 a %ort am.t ( "t4 ,ov] half ( families 7 able to obta9 a middle class 9come 9 ! #aigjs 9 comp>ison to less ?an half able to obta9 a middle class 9come 9 #bjjg4 ,"s *n come f families ) only "o p>5t1 : t5ds to l1d !m to 2+ 9 ! l[] class4 ,"! >e _m 3tribut+ factors to ?4 ,= example1 a s+le "m or "f may only make m9imum wage1 b only h #a * to take c>e (1 ":as ano!r s+le "m or "f may h multiple *n to take c>e ( mak+ ! same m9imum wage 9come4

,"! is s* a significant gap 2t college gradua;n rates = ! ri* & ! poor4 ,"! >e _m di6]5t r1sons t ? may o3ur4 ,"o ( ! r1sons cd 2 t /ud5ts f a l[] 9come >e n z $ucat$ ab college z /ud5ts f a hi<] 9come family4 ,/ud5ts f a l[] 9come family may al h less ( a support sy/em & h to /rictly pay = college !mvs ) no support or guid.e4 ,? may l1d to he or %e hav+ to "w full "t :ile al att5d+ college1 : puts a burd5 on _! grades z !y focus on _! job & c\rse"w at ! same "t4 ,l[] 9come families may su6] due to ! fact ! *n >e n provid$ ) ! same mat]ials t hi< 9come families h s* z tutors & 2+ able to 2 home ) _! * to assi/ on home"w4 ,hi< 9come families >e typically m 9volv$ 9 _! *n s*ool "w & grades1 s ^! /ud5ts may h a grt] pressure to su3e$ & a*ieve hi< grades4 ,hav+ a p>5t :om /ays home e ni ,dur+ a /udy p]=m$ by ! ,na;nal ,c5t] = ,$uca;n ,/ati/ics1 !y %[$ t #f 9 #aj /ud5ts :o 7 9volv$ 9 ? /udy /at$ t !y _h to pay = college !mvs4 ,^! f9d+s >e n surpris+ z _m /ud5ts d n h families t prep>e well ah1d = _! *'s $uca;n or ^! families may n 2 able to put any extra m"oy aside to 3tribute to _! *'s college fund4 ,_m /ud5ts att5d college ) no sav+s at all & >e =c$ to "w :ile att5d+ college4 ,x 0 %[n t /ud5ts f l[] 9come families t5d to g to colleges ) l[] gradua;n rates4 ,? is 2c ^! /ud5ts >e likely unable to 2 a3ept$ 9to colleges s* z ,h>v>d & ,yale4 ,/ud5ts att5d+ a l[] gradua;n rate college1 sets up ! expecta;n t !y may n graduate z well4

,al provid$ 9 ,bjorklund-"y's rese>* pap] 0 t m]it s*ol>%ip programs 9 ,georgia & ,>kansas 9cr1s$ ! gradua;n complet$ rate by #c to #d p]c5t4 ,:5 /ud5ts >e (f]$ assi/.e to pay = college1 ? cd l1d to "o ( ! factors 9 ! gradua;n rate4 ,"! 0 a report by ,! ,$uca;n ( ,tru/ : analyzes ! comple;n rates ( /ud5ts :o 7 (f]$ ,pell ,grants4 ,pell grants >e (f]$ on a ne$$ base sc5>io provid$ by ! ,f$]al ,gov]n;t4 ,_! report f.d t ! di6];e 9 gradua;n rates 0 #e4g.0 f ^? :o 7 (f]$ ,pell grants & ^? :o 7 n4 ,!y al 4cov]$ t _m /ud5ts :o >e (f]$ ,pell grants g to colleges :om h l[] gradua;n rates4

,9 h] rese>* pap]1 %e 4cuss$ ! ,na;nal ,c5t] = ,$uca;n ,/ati/ics f9d+s !y obta9$ f ! ,$uca;n ,l;gitud9al ,/udy4 ,9 _! /udy1 !y 9clud$ #ae1jjj /ud5ts :o 7 sophomores 9 hi< s*ool 9 ! ye> #bjjb4 ,!y det]m9$ a few di6]5t f9d+s dur+ _! /udy s* z "! 2+ l[] gradua;n rates f /ud5ts :o >e f l[ ,,ses backgr.ds & t l[] gradua;n rates ( l[ ,,ses /ud5ts _c fully 2 expla9$ by ! lack ( academic prep>a;n4 ,! rese>*]s al det]m9$ t /ud5ts f l[ 9come families >e less likely to 2 prep>$ academically 9 comp>ison to ^? /ud5ts ( hi< 9come families4 ,x is /at$ 9 h] rese>* pap] t "! has be5 rese>* 3duct$ : has be5 e/abli%$ to %[ t :5 college tui;n rates >e r$uc$1 gradua;n rates >e 9cr1s$4 ,/ud5ts >e m likely to 5roll 9to classes :5 college tui;n is l[]$ 2c x is m r1li/ically possible = !m to af=d x & n h to borr[ s m* m"oy = _! $uca;n4 ,%e 4cov]$ dur+ h] rese>* t ! top two r1sons /ud5ts didn't f9i% college is 2c !y 7 try+ to bal.e "w & s*ool4 ,/ud5ts ( a l[] 9come class may h to get a job :ile att5d+ college 9 ord] to af=d basic necessities ( college s* z books & supplies4

,! second rese>* pap] ( 4cus.n 0 writt5 by ,lane ,&]son 9 ,june ( #bjae1 call$ 8,! ,gradua;n ,gap3 ,:y ,poor ,kids ,>5't ,gett+ "? ,college4^8 #b ,lane ,&]son4 8,! ,gradua;n ,gap3 ,:y ,poor ,kids ,>5't ,gett+ ,"? ,college40 "<,june #ae #bjae">4,throughout 8 >ticle1 he 9clud$ 8 rese>* provid$ by di6]5t /ati/ics & pot5tial r1sons z to :y "! is a gap 2t ! ri* & ! poor 9 t]ms ( gradua;n rates4 ,he /at$ t poor 9come families lack ! prop] tools !y ne$ to prep>e _! *n = college1 s* z ,,sat prep1 private tutors1 & p>5tal 5c\rage;t4 ,) ! help ( ,,sat prep1 /ud5ts >e able to obta9 a hi<] score on _! ,,sat1 : l1ds !m 9 ! "r direc;n = apply+ to colleges4 ,,sat scores >e "o ( ! major factors colleges look at 9 an applica;n4

,:5 /ud5ts h tutors1 he or %e >e able to h t practice !y ne$ & a "o on "o 9t]ac;n ) "s"o :o is help+ !m bas$ on _! specific ne$s4 ,p>5tal 5c\rage;t may al play a major role 9 h[ /ud5ts apply !mvs :5 x comes to s*ool "w4 ,/ud5ts :o h support f _! p>5ts & guid.e >e m likely to e>n bett] grades 2c _! families >e "! to support !m & "w ) !m4 ,/ud5ts ( l[] 9come families may 2 left al"o :ile _! p>5ts >e "w+ try+ to provide = _! families4 ,? c cause !m n to c>e to f9i% home"w assign;ts1 : l1ds to l[] grades & gett+ 9to tr\ble 9 s*ool z well z \tside ( s*ool4

,9 ,lane's rese>* he /at$ t ! ,college ,bo>ds data %[$ /ud5ts ( families ^: 9come is m ?an @s#bjj1jjj score an av]age ( #cej po9ts hi<] on _! ,,sat scores4 ,he al 4cuss$ ! /udy f ! ,na;nal ,c5t] = ,$uca;n ,/ati/ics4 ,laur5 ,musu-,gillette is ! co-au?or ( ? /udy4 ,! /udy %[s #ae1jjj hi< s*ool /ud5ts :o 3t9ue on to college4 ,_! progress 0 record$ & f.d t #fj p]c5t ( /ud5ts f hi< 9come families graduat$ f college & #ad p]c5t ( ^? 7 f l[ 9come families4 ,families :o h an 9come ( @s#be1jjj or l[] _h ab #dd p]c5t ( /ud5ts :o att5d$ commun;y colleges af hi< s*ool4 ,commun;y college gradua;n rates >e al l[] ?an f\r-ye> public or private college gradua;n rates4

,lane provides 9=ma;n ab ! ,yonk]s ,"pn]s 9 ,$uca;n4 ,? is a program design$ to help /ud5ts or l[] 9come 9 ,yonk]s1 ,new ,york4 ,"! >e ab #ge p]c5t ( /ud5ts 9 ,yonk]s :om qualify = free or r$uc$ lun* prices1 : %[s h[ l[ ! 9come ( ^! families >e4 ,! ,yonk]s ,"pn]s 9 ,$uca;n program provid$ assi/.e to ^! *n ( l[] 9come families ) ,,sat prep & c\nsel+4 ,) _! help1 ov] #gj p]c5t ( hi< s*ool /ud5ts 7 admitt$ 9to college & ab #db p]c5t w5t to ne>by commun;y colleges4 ,:5 look+ at ^! /ud5ts #c & a half ye>s lat]1 only #f4g p]c5t ( ^! /ud5ts 7 / 5roll$ 9 commun;y colleges4 ,? is an extreme decl9e ( ! #db p]c5t :o 7 5roll$ 9 commun;y colleges #c & half ye>s prior4 ,9 only a few ye>s t numb] dropp$ f #db p]c5t to #f4g p]c5t :o rema9$ 9 commun;y colleges4 ,"! >e _m di6]5t r1sons z to :y ^! /ud5ts may h n be5 able to 3t9ue _! $uca;n4 ,lane /ates t ^! /ud5ts may h to travel #c h\rs 9 ord] to get to college & / h to "w to support _! families4 ,! commute al;g ) ! h\rs t h to 2 sp5t 9 classes wd 2 exhau/+ to mo/ p :ile al h to "w to help _! families 9come4 ,x's n %ock+ t ^! /ud5ts wd *oose to drop \ ( college due to ^! 3di;ns4

,/ud5ts :o come f pov]ty >e e6ect$ 9 _m ways :5 x comes to s*ool+ & _! p]sonal life4 ,^! /ud5ts may n 2 able to h ! mat]ials ne$$ = s*ool & guid.e at home f _! p>5ts = home"w & /udy "t4 ,^! /ud5ts may al f9d t "o ( _! p>5ts >e abs5t4 ,_m *n >e rais$ ) only "o p>5t1 : has an e6ect on !m4 ,? l1ds !m to 2+ depriv$ ( emo;nal support & 5c\rage;t 9 s*ool "w4 ,z /at$ by ,/anley ;,h4 ,ma/] 9 8 rese>* pap] ^0 ,! ,e6ect ( ,family ,9come on ,*n's ,$uca;n3 ,"s ,f9d+s on ,9equal;y ( ,opportun;y10 8family 9come may al h a m g5]al e6ect on *n's $uca;n s9ce m 9come %d l1d to bett] food & m$ical c>e & ?us to b"r]1 m att5tive /ud5ts4 ,9cr1s$ 9come %d al l1d to bett] h\s+4^8 #c ,/anley ;,h4 ,ma/]4 8,! ,e6ect ( ,family ,9come on ,*n's ,$uca;n3 ,"s ,f9d+s on ,9equal;y ( ,opportun;y40 ,! ,j\rnal ( ,human ,res\rces1 #a ,april #aifi1 ,vol4 #d"<#b"> pp4 #aeh-#age4,this /ate;t is significant4 ,/ud5ts t come f a hi< 9come family likely h home cook$ m1ls ) _! families e ni ,/ud5ts f l[] 9come families may f9d !mvs hav+ to cook = !mvs & may n h h1l?y *oices z eat+ h1l?y is n *1p4 ,ma/]s al /ates t /ud5ts :om h l>g] families may h a 4advantage 2c _! p>5ts may n 2 able to pay z m* att5;n to ea* * z a family t has only "o a two *n4 ,families t h f\r or m sibl+s may n get ! "o on "o att5;n t a s+le * wd get4

,la/ly1 ,ma/]s advises t /ud5ts :o come f bett] $ucat$ families >e able to provide addi;nal 5c\rage;t to _! *n to su3e$ & d well 9 s*ool4 ,:5 a p>5t is well $ucat$ !y >e able to assi/ bett] on home"w & 2 able to t1* _! *1 o!r ?an j 9 ! classroom4 ,$ucat$ families >e able to "w ) _! *n \tside ( ! classroom4 ,!y >e able to sit home ) _! *n at nie able to le>n at home z well z 9 s*ool1 : is an advantage s9ce _! p>5ts >e guid+ !m to su3ess4

,ma/]s al makes ! 3nec;n t if "o or bo? ( a *'s p>5ts >e n >.d1 t * may 2 depriv$ ( emo;nal support z well & 5c\rage;t 9 s*ool4 ,"s *n may 2 left home al"o mo/ ni5ts >e "w+4 ,"s *n may only h "o p>5t pres5t due to sep>a;n or ! loss ( a p>5t4 ,s* situa;ns wd put a grt e6ect on /ud5t's abil;y to d well 9 s*ool4 ,) only "o p>5t mak+ an 9come1 likely ? * wd come f a home t is l[ 9come due to ! lack ( addi;nal support f ano!r p>5t4 ,"o p>5t hav+ to provide = "o h\sehold is n an easy task4

,sec;n #b3 ,loans & ,grants

,:5 /ud5ts d get 9to college & />t tak+ college c\rses1 "s /ud5ts >e unable to graduate = v>i\s r1sons4 ,"! >e _m r1sons t /ud5ts may n 2 able to graduate & e>n _! diploma4 ,"o ( ! r1sons is 2c ( ! am.t ( /ud5t loan debt t /ud5ts face :5 att5d+ college4 ,mo/ /ud5ts >e unable to pay = _! college tui;n \ ( pocket & >e =c$ to f9.e _! $uca;n4 ,? puts a f9ancial burd5 on _! future & !y may f9d !mvs unable to complete _! program1 due to ! am.t ( m"oy t ne$s to 2 borr[$4 ,_m /ud5ts h to completely f9.e _! 5tire $uca;n4 ,"! cd 2 ob/acles al;g ! way t a6ect !m f rcvg _! f9ancial aid1 : (t5 l1ds to dropp+ \4 ,"s ( ^! ob/acles 9clude n 2+ able to borr[ m m"oy or n 2+ able to keep c]ta9 s*ol>%ips t !y h e>n$ =c+ !m to drop \ ( college4

,al? grants & s*ol>%ips >e available to /ud5ts1 due to ! reces.n 9 #bjjh1 "! 0 less m"oy t univ]sities cd 3tribute to grants & s*ol>%ips4 ,? al l$ to p hav+ to borr[ m m"oy = tui;n 2c ^? grants & s*ol>%ips 7 no l;g] 5 to cov] tui;n4 ,/ud5ts :o wd dep5d on grants & s*ol>%ips wd n[ h to dep5d on borr[+ m"oy to pay = college4 8,f #bjje to #bjaa al"o1 total private /ud5t loan debt m ?an d\bl$ f @s#ee4i billion to @s#adj4b billion10 z /at$ by ,anne ,johnson1 ,tob9 ,van ,o/]n1 & ,abraham ,:ite 9 _! pap] 8,! ,/ud5t ,debt ,crisis4^8 #d ,/anley ;,h4 ,ma/]4 8,! ,e6ect ( ,family ,9come on ,*n's ,$uca;n3 ,"s ,f9d+s on ,9equal;y ( ,opportun;y40 ,! ,j\rnal ( ,human ,res\rces1 #a ,april #aifi1 ,vol4 #d"<#b"> pp4 #aeh-#age4,this is a %ock+ result to see t 9 #f ye>s ! am.t ( /ud5ts tak+ \r private loans m ?an d\bl$4 ,college is 2com+ s exp5sive t /ud5ts >e unable to pay = tui;n )\t ! help ( borr[+ m"oy f private l5d]s4 ,:5 /ud5ts h no o!r op;n ?an to borr[ m"oy = tui;n1 ? comes ) a grt d1l ( burd5 on _! future4 ,= 9/.e1 :5 an 9dividual borr[s m"oy1 "! is 9t]e/ on ^! loans4 ,"s 9t]e/ />ts "r :5 ! loan is tak5 \1 :ile "s 9t]e/s o3ur af pay;ts />t 2+ made4 ,due to 9t]e/ rates on ^! loans1 /ud5ts (t5 5d up pay+ m ?an !y actually borr[$4 ,9t]e/ rates >e "pially ! r1son t x takes 9dividuals _m ye>s to pay (f _! debt4 ,_m 9dividuals c only af=d ! m9imum pay;t on _! loans & only 5d up pay+ a ll por;n ( :at !y r1lly [e4 ,? is 2c ! m9imum pay;t t !y >e mak+ mon?ly is mo/ly go+ t[>ds ! 9t]e/ on ! loan4

,"! >e di6]5t types ( loans & grants t /ud5ts c take advantage ( :ile borr[+ m"oy to pay = college4 ,! f/ item to "u/& is :at type ( loan an 9dividual is borr[+4 ,f$]al & nonf$]al loans >e available to /ud5ts4# e ,f$]al ,/ud5t ,aid website4 ,/ud5taid4<|->gov4,f$]al loans >e (f]$ 2 ! f$]al gov]n;t & nonf$]al loans >e (f]$ by private l5d]s & banks4 ,! advantage ( f$]al loans is t ! 9t]e/ is typically l[] ?an nonf$]al loans & !y h a bett] pay;t plan = /ud5ts4 ,if /ud5ts >e unable to pay !y loans1 !y >e m l5i5t t[>ds pay;ts4 ,/ud5ts %d avoid at all co/s tak+ \ nonf$]al loans4 ,x is n /ress$ 5 = /ud5ts to fully take advantage ( all ! f$]al loans t >e available to !m4 ,:5 /ud5ts apply = f9ancial aid !y may 2 (f]$ two types ( loans1 subsidiz$ & unsubsidiz$4 ,^! >e f$]al /ud5t loans z "kn z ,/af=d ,loans or ,direct ,/af=d ,loans4 ,:5 /ud5ts decide !y ne$ assi/.e 9 pay+ = college !y m/ complete :at is "kn z a ,free ,applica;n = ,f$]al ,/ud5t ,aid o!rwise "kn z ,,fasfa4 ,? applica;n all[s ! /ud5ts s*ool to det]m9e h[ m* aid a /ud5t ne$s bas$ on _! f9ancial situa;n4 ,? may 2 bas$ on _m di6]5t items s* z if ! /ud5ts,0 p>5ts >e tgr or sep>at$ & h[ m* 9come _! h\sehold br+s in4 ,al1 h[ _m family memb]s >e 9 _! h\sehold4

,"! >e _m di6];es 2t f$]al & nonf$]al loans4 ,f$]al loans w n h to 2 pd until a /ud5t graduates or l1ves s*ool4 ,al1 if _! 5roll;t /atus is *ang$ f full "t to "p "t4 ,? may 2 an 5c\rage;t = /ud5ts to /ay full "t & complete _! ba*elors 9 f\r ye>s z !y d n want to h to focus on pay+ _! loans :ile att5d+ s*ool4 ,) f$]al loans1 ! 9t]e/ rates >e fix$ & mo/ly l[] ?an nonf$]al loans & "! is n a cr$it *eck exclud+ ,,plus loans : c b5efit /ud5ts by help+ !m ) _! cr$it score4 ,ano!r positive to f$]al loans is "! is no co-sign] nec = /ud5ts to take \ ^! loans4 ,f$]al /ud5t loans (f] multiple repay;t op;ns = /ud5ts dep5d+ on _! curr5t f9ancial situa;n & c al 2 po/pon$ or l[]$ if ne$$4

,nonf$]al loans may require t pay;ts 2 made :ile ! /ud5t is curr5tly 5roll$ 9 s*ool4 ,? may cause addi;nal /ress on /ud5ts z !y may ne$ to "w 9 ord] to pay = _! curr5t loans :ile / att5d+ s*ool4 ,!y w n 2 able to provide _! full att5;n to s*ool :5 hav+ to worry ab mak+ pay;ts on _! nonf$]al loans4 ,z previ\sly m5;n$1 ! 9t]e/ rates on nonf$]al loans >e hi<] ?an on f$]al loans4 ,!y >e al n subsidiz$ : m1ns t /ud5ts >e responsible = all ! 9t]e/ on ! loan4 ,"! >e _m 4advantages to nonf$]al loans4 ,"o ( ! 4advantages 9cludes t /ud5t may ne$ a cosign]4 ,f9d+ a cosign] may 2 di6icult = "s /ud5ts4 ,ano!r 4advantage is t ^! loans may n h def];t op;ns if /ud5ts f9d !mvs 9 a f9ancial situa;n ": !y _c af=d _! loan pay;ts4

,subsidiz$ loans h m ( an advantage to /ud5ts 2c !y d n rely on ! /ud5t to pay ! 9t]e/ :ile !y >e 9 s*ool4 ,:ile ! /ud5t is 9 s*ool1 ! ,unit$ ,/ates ,de"p;t ( ,$uca;n pays 9t]e/ on ! loans1 : is bett] = ! /ud5t n hav+ to pay ? 9t]e/ :ile !y >e curr5tly att5d+ s*ool4 ,! ,unit$ ,/ates ,de"p;t ( ,$uca;n w pay ! 9t]e/ on ^! loans :ile ! /ud5t is at l1/ half "t4 ,!y w al pay ! 9t]e/ ! f/ #f mon?s af a /ud5t l1ves s*ool4 ,? #f-mon? p]iod is "kn z a grace p]iod4 ,x all[s /ud5ts to get on _! feet af l1v+ s*ool & 9t5;n to f9d a job 9 t p]iod ( "t4 ,^! types ( loans >e available to "ugraduate /ud5ts4 ,! s*ool t ! /ud5t is att5d+ is :o det]m9es ! am.t ( m"oy a /ud5t is all[$ to borr[4 ,? m/ n exce$ ! f9ancial ne$ ( ! /ud5t4 ,9 o!r ^ws1 a /ud5t is n all[$ m m"oy to borr[ ?an :at !y actually ne$ & !y m/ use ? m"oy = s*ool relat$ exp5ses4 ,9 "s cases1 /ud5ts may get 5 m"oy to cov] ! co/ ( tui;n & / h a rema9+ bal.e left ov]4 ,? am.t is giv5 back to ! /ud5t1 b m/ only 2 us$ = s*ool exp5ses s* z books & h\s+4

,unsubsidiz$ loans >e (f]$ to bo? "ugraduate & graduate /ud5ts4 ,l subsidiz$ loans1 ! s*ool det]m9es ! /ud5t ne$s & :at is ! a3eptable am.t a /ud5t %d 2 (f]$ to borr[4 ,/ud5ts ag m/ only use ? m"oy t[>ds $uca;nal purposes s* z tui;n1 books1 & h\s+4 ,! 4advantage to ^! types ( loans is t ! /ud5t is responsible = ! 9t]e/ immly unlike ) subsidiz$ loans4 ,! 9t]e/ is add$ to ! pr9cipal ( :at a /ud5t [es & is n pd by ! ,unit$ ,/ates ,de"p;t ( ,$uca;n4 ,x is important = a /ud5t to "k ! di6];e 2t ^! two types ( loans4

,ano!r loan program t is (f]$ to /ud5ts is "kn z ! ,f$]al ,p]k9s ,loan ,program4 ,? program is (f]$ to "ugraduates & graduates :o ne$ excep;nal f9ancial assi/.e4 ,) ? program1 ! college ! /ud5t is att5d+ is ! l5d] ( ! loan4 ,x is important = /ud5ts to look at all _! op;ns 2f decid+ h[ !y want to f9.e _! degree4 ,/ud5ts m* take advantage ( ! f$]al loans t >e available to !m 2c tak+ \ private loans to pay = college is n id1lly = any"o4

,analysis has %[n t "u half ( /ud5ts t rcv ,pell ,grants = college actually f9i% _! f\r ye> program4 ,_m l[ 9come college /ud5ts >e n complet+ _! degrees )9 ! f\r ye> "t frame & "s >e n f9i%+ at all4 ,ac to ,na?an ,fav]o1 au?or ( 8,:y gradua;n rates lag = l[-9come college /ud5ts1^8 #f ,na?an ,fav]o4 8,:y ,gradua;n ,rates ,lag = ,l[-9come ,college ,/ud5ts40 "<,may #ab1 #bjah">4available data su7e/ t r1son ,pell ,grant recipi5ts h l[] gradua;n rates is relat$ to bo? ! nature ( ! colleges ^! /ud5ts att5d1 z well z ! p]sonal b>ri]s ^! /ud5ts face40 ,he /ates t ! /ud5ts :o rcv ,pell ,grants >e m likely to 2l;g to racial m9or;y1 h p>5ts :om n"e att5d$ college1 & >e p>5ts !mvs4 ,"s ( ^! /ud5ts :om rcv ,pell ,grants >e s+le p>5ts & may n h att5d$ college "r af hi< s*ool gradua;n4 ,= /ud5ts t >e s+le p>5ts1 !y face grt] ob/acles ?an ^? :o h a "pn]1 or ^? :o d n h *n ( _! [n at all4 ,s+le /ud5ts ) *n h to bal.e _! s*ool life ) _! p]sonal life : may 9clude hav+ to f9d a "dc>e on "ds !y att5d s*ool or "w4 ,x's no surprise = "o 9dividual try+ to bal.e s*ool1 "w1 & provid+ = _! *n may 2 di6icult4 ,? l1ds to !m n 2+ able to take z _m c\rses ea* seme/] & makes gett+ _! degree take ev5 l;g]4

,fav]o al /ates t /ud5ts :o rcv ,pell ,grants usually g to s*ools t h l[] ov]all gradua;n rates4 ,"o ( ! r1sons = ? is 2c "s ( ^! /ud5ts may 2 unable to 2 a3ept$ 9to a college t has bett] gradua;n rates due to _! previ\s academic p]=m.e 9 hi< s*ool4 ,a ;,c av]age /ud5t is n go+ to get 9to a college t an ,a or ;,b av]age /ud5t mie able to keep up ) _! "w & get ! help !y ne$ f tutors & _! pr(essors4

,9 ! >ticle 8,! ,p]si/+ ,racial ,gap 9 ,college ,/ud5t ,gradua;n ,rates10 by ,! ,,jbhe f.da;ns1 ,9c /ates1 8,de"p;t ( ,$uca;n data %[s t black /ud5ts :o e>n a f\r ye> college degree h 9comes t >e sub/antially hi<] ?an blacks :o h only "s college exp]i;e b h n e>n$ a degree4^8 #g ,! ,,jbhe ,f.da;ns ,9c4 8,! ,p]si/+ ,racial ,gap 9 ,college ,/ud5t ,gradua;n ,rates40 "<,novemb] #bc1 #bjae">,according to _! rese>* blacks >e #ba p]c5t 2l ! gradua;n rate ( :ite /ud5ts4 ,"! >e n _m colleges 9 ! ,unit$ ,/ates t h a hi<] gradua;n rates = black /ud5ts ?an :ite /ud5ts4 ,? cd 2 = _m di6]5t r1sons4 ,"s ( ! r1sons 9clude ^! /ud5ts com+ f l[ 9come families : may n h ! prop] mat]ial s* books & tutor+4 ,al1 _m ( ^! families >e n f families :o h college $uca;n4 ,)\t hav+ a p>5t or gr&p>5t :o has a college $uca;n !y may n h ! prop] tools & guid.e ( ^? :o come f families :o h college backgr.ds4 ,^! /ud5ts may lack academic prep>a;n & /udy habits4 ,_! expecta;n levels may al 2 l[]4 ,:5 a /ud5t comes f a hi< 9come family :o is college $ucat$ & 9volv$ 9 _! *'s life1 !y h m pressure to complete _! programs & e>n _! college degree4

,h>v>d ,univ]s;y is "o ( ! hie _m di6]5t r1sons 2h ?4 ,= />t]s1 n e /ud5t is capable ( 2+ a3ept$ 9to ,h>v>d ,univ]s;y4 ,h>v>d ,univ]s;y is a m* m competitive college to 2 a3ept$ 9to comp>$ to o!r colleges4 ,!y *oose ! be/ ( ! be/ s1 likely ! gradua;n rates w 2 bett]4 ,!y *oose /ud5ts :om rcv ! hiv>d1 ,pr9ceton1 & ,amh]/ complete _! programs & e>n _! college degree4 ,^! /ud5ts >e m likely to e>n _! diploma bas$ on ! reputa;n ( ^! univ]sities z well4

8,hi< drop\t rates appe> to 2 prim>ily caus$ by 9f]ior ;,k-#ab prep>a;n & an abs;e ( a family college tradi;n1 3di;ns t apply to a v l>ge p]c5tage ( td's college- b.d ,african ,am]icans10 ac to ,,jbhe ,f.da;ns1 ,9c4 ,/ud5ts t d n h ! family support & prep>a;n = college >e m likely to drop \ ( college ?an ^? /ud5ts :o >e giv5 ! prep>a;n & support ne$$ to su3e$4 ,ano!r r1son t /ud5ts drop\t is due to hi< am.ts ( /ud5t loan debt4

,ac to ,anne ,johnson1 ,tob9 ,van ,o/]n1 & ,abraham ,:ite 9 _! rese>* pap]1 8,! ,/ud5t ,debt ,crisis10 ,am]ica n[ exce$s @s#a trillion doll>s 9 /ud5t loan debt4 ,i 0 n surpris$ by ? /ate;t z s _m p 9 ,am]ica >e fac$ ) /ud5t loan debt4 ,! issue t 3t9ues to o3ur is :5 an 9dividual graduates f college 2c major;y ( ^! l[] class 9com$ families >e n able to pay = college4 ,/ud5ts >e fac$ ) loan debt t c av]age @s#cj1jjj & z hi< z @s#ajj1jjj4 ,ov] ! ye>s1 college tui;n has only 9cr1s$4 ,to help assi/ /ud5ts ) college exp5ses1 f9ancial aid is (f]$ to ^? /ud5ts :o qualify4 8,two-?irds ( /ud5ts :o e>n f\r-ye> ba*elor's degrees >e graduat+ ) an av]age /ud5t loan debt ( m ?an @s#be1jjj1 & #a 9 #aj borr[]s n[ graduate [+ m ?an @s#ed1jjj 9 loans10 /at$ 9 ! >ticle 8,! ,/ud5t ,debt ,crisis0 by ,anne ,johnson1 ,tob9 ,van ,o/]n1 & ,abraham ,:ite4 ,mo/ /ud5ts >e fac$ ) "s sort ( debt :5 !y graduate college4 ,x is n uncommon = /ud5ts to h a significant am.t ( debt af gradua;n4 ,"y p >e =c$ to f9.e _! $uca;n "? /ud5t loans 2c !y >e unable to pay = college on _! [n due to ! hi< co/ ( tui;n4 ,! price ( college c range on _m di6]5t levels s* z1 :e!r an 9dividual *ooses to att5d a #b-ye> s*ool or a #d-ye> public or private s*ool4 ,commun;y colleges >e less ( an exp5se ?an private or public s*ools4 ,private s*ools >e significantly m exp5sive ?an public s*ools4 ,! co/ ( att5d+ college has *ang$ dra/ically ov] ! ye>s4

,jill ,b>%ay wrote an >ticle titl$1 8,f$]al data %[ #c4i million /ud5ts dropp$ \ ( college ) debt 9 #bjae & #bjaf4^8 #h ,jill ,b>%ay4 8,f$]al ,data ,%[ #c4i ,million ,/ud5ts ,dropp$ ,\ ,( ,college ) ,debt 9 #bjae & #bjaf40 "<,novemb] #f1 #bjag">4,she rese>*$ ! am.t ( debt /ud5ts 7 9 t 7 college drop\ts4 ,%e ga9$ h] data f ! ,u4,s ,de"p;t ( ,$uca;n : tracks ! numb] ( /ud5ts :o drop \ ( college = e college 9 ! na;n4 ,%e /at$1 8,my figures %[ a total ( #c4i million "ugraduates ) f$]al /ud5t loan debt dropp$ \ dur+ fiscal ye>s #bjae & #bjaf40 ,? is a v l>ge am.t ( /ud5ts t h /ud5t loan debt )\t ev5 complet+ college4 ,^! /ud5ts t drop \ ( college may f9d di6iculty f9d+ jobs to pay = ! loans t !y took \1 "!=e x l1ds to _! cr$it 2+ ru9$ & 9/1d ( bett]+ !mvs by gett+ an $uca;n1 & !y h put !mvs f9ancial 9 a worse situa;n4 ,9 h] rese>*1 %e 4cov]$ t #b4e million or #fd.0 7 f public commun;y colleges & f\r ye> univ]sities = #bjae-#bjaf ) an av]age debt ( @s#f1hga4 #j4e ,million or #ac.0 7 f private nonpr(it colleges & univ]sities ) av]age debt ( @s#i1ffh4 ,la/ly1 #j4i million or #bc.0 7 =-pr(it univ]sities av]age debt ( @s#e1hab4 ,? l1ds to ! total am.t ( "ugraduates :o dropp$ \ dur+ #bjae-#bjaf #c4i million ) & av]age debt ( @s#g1agd4

,i f.d x 9t]e/+ to rese>* h[ /ud5ts >e able to pay (f _! debt1 ev5 hav+ v ll 9come af gradua;n4 ,/ud5ts >e able to put _! loans on def];t4 ,? m1ns t _! loans >e put on hold = a c]ta9 p]iod ( "t1 due to !m 2+ unable to make _! pay;t require;ts4 ,college graduates >e (f]$ a #f-mon? grace p]iod af gradua;n ": !y >e n requir$ to make pay;ts on _! loans4 ,? all[s /ud5ts to get on _! feet & se>* = a job 2f _! loans h to />t 2+ pd (f4 ,luckily1 ? is a nice br1k = /ud5ts z !y desp]ately se>* = a c>e]1 : cd take a c\ple mon?s to f9d z jobs h 2+ s competitive4 ,pay+ (f /ud5t loans h 2come manag1ble bas$ on ! 9dividuals ne$s & curr5t situa;n4 ,"! >e _m di6]5t op;ns = /ud5ts to repay _! loans s* z1 9come driv5 repay;t op;n4 ,? op;n all[s 9dividuals to get ! l[e/ pay;t possible on _! loans bas$ on ! am.t ( 9come !y >e rcvg at t "t p]iod 9 ! life4 ,!y h to submit a new applica;n e ye> to provide _! curr5t 9come & get ! approvable ( ! am.t he or %e [es mon?ly = _! loans4 ,? is b5eficial 2c x all[s /ud5ts to n h to ov] exce$ ! am.t !y h to pay on _! loans & put a huge burd5 on _! daily lives4

,sec;n #c3 ,regres.n

,! purpose ( ? pap] is to see h[ ! family 9come ( a /ud5t's families relates to ! gradua;n rate ( ^! /ud5ts4 ,"! is a gap 2t ! gradua;n rates ( l[ 9come & hi< 9come families4 ,"! is al a gradua;n gap 2t di6]5t racial gr\ps4 ,"! has be5 rese>* : %[s t :ite 9dividuals t5d to h a hi<] gradua;n rate ?an black 9dividuals4 ,! purpose ( ? rese>* pap] is to see :at t gap is & h[ x may h *ang$ ov] ! ye>s4 ,! ,,sas program1 ,/ati/ical ,analysis ,sy/em1 0 us$ 9 ord] to obta9 ^! results4 ,:ile us+ ! ,,sas program ,! ,,,m1ns1 univ>iate1 reg1,' & ,,autoreg proc$ures 7 d]iv$4 ,? /udy uses f\r v>iables : 9clude prop]ty tax1 expect$ $uca;n1 m$ian 9come1 & gradua;n rate4 ,^! v>iables 7 f.d = all #ej /ates 9 ! ,unit$ ,/ates4 ,! data 0 collect$ f ,,ip$s4

,sec;n #c4a3 ,! ,,m1ns ,proc$ure

,! ,,m1ns ,proc$ure us$ 9 ! ,,sas program provides data summ>y tools to d]ive /ati/ics = v>iables us$ 9 ,,sas4 ,! ,,m1ns ,proc$ure1 : is ! f/ proc$ure %[n e/imates quantiles s* z m1n1 /&>d devia;n1 m9imum1 & maximum4 ,? proc$ure al has ! abil;y to p]=m a ;t-te/4 ,9 ! results d]iv$ f ! ,,m1ns ,proc$ure1 ! ;,n v>iable 9 ! *>t is = ! numb] ( obs]va;ns4 ,! m1n is ! >i?metic av]age1 ! m9imum is ! l[e/ value1 & ! maximum is ! hi 9s]t file"7img#gfg4;jpg

,figure #a3 "<,,sas3 ,! ,,m1ns ,proc$ure">

,! v>iables us$ :ile p]=m+ ! ,m1n ,proc$ure 7 prop tax1 ,exp,$1 ,m$,9c1 & ,grad,rate4 ,! numb] ( obs]va;ns us$ 7 #ea4 ,m1n is ! av]age ( all ! data4 ,\r results d]iv$ f runn+ ? regres.n 0 t ! m1n ( prop tax 0 #hijfjea4hb1 ! m9imum 0 #ebjfgi4jj1 & ! maximum 0 #eafjeddh4jj4 ,! results d]iv$ = ,exp,$ 0 ! m1n 2+ #bbfabaef4ef1 ! m9imum 0 #bgcfcdc4jj & ! maximum 0 #acejghjef4 ,! results d]iv$ 9 ! ,m$,9c 0 ! m1n 0 #dehdjdi1 ! m9imum 0 #cbich4jj1 & ! maximum 0 #fafgb4jj4 ,la/ly1 ! ,grad,rate m1n 0 #hb4iijaiafa1 ! m9imum 0 #fh4ejjjjjj1 & ! maximum 0 #ij4hjjjjjj4 ,! /&>d devia;n = ,prop,tax 0 #aaihghec4bh1 = exp $ 0 #bcebicdh4ic1 = m$9c 0 #gceg4bf1 & = grad rate 0 #e4daefafe4 ,all ^! figures >e %[n 9 ! ,figure #a abv4 ,%[n 9 ,figure #b 2l is a l9e graph ( ! v>iable 9 ,! ,,m1ns ,proc$ure z j 4cuss$4

,figure #b3 "<,,sas3 ,! ,,m1ns ,proc$ure graph$">

,sec;n #c4b3 ,! ,univ>iate ,proc$ure = ,prop ,tax

,! second proc$ure d]iv$ f ! ,,sas program 0 ,! ,,univ>iate ,proc$ure4 ,? 0 ran = all ( ! v>iables1 proptax1 exp $1 m$9c1 & grad rate4 ,! ,univ>iate proc$ure d]ives mo;ts1 basic /ati/ical m1sures1 te/s = loca;n ,mu#j "7#j1 ,quantiles1 & extreme obs]va;ns4 #j #bjjjjjjj #djjjjjjj #fjjjjjjj #hjjjjjjj #ajjjjjjjj #abjjjjjjj #adjjjjjjj #afjjjjjjj ,! ,,m1ns ,proc$ure ,prop,tax ,prop,tax ,exp,$ ,exp,$ ,m$,9c ,m$,9c ,grad,rate ,grad,rate

9s]t file"7img#ggj4;jpg

"<,figure #c3 ,,sas ,! ,univ>iate ,proc$ure">

,! proptax cr1t$ ! m1n #hijfjea4hb z %[n 9 ! ,,m1n ,proc$ure z well4 ,! ,mo;ts *>t provid$ ! m1n /&>d devia;n1 skew;s1 uncorrect$_/correct$ ,,dd1 coeff v>ia;n1 sum obs]va;ns1 v>i.e1 kurtosis1 & /&>d ]ror m1n4 ,! v>i.e %[n 0 #a4dcgji,e#ad1 & kurtosis 0 #f4jcadjbih4 ,! basic /ati/ical m1sures %[$ ! range & 9t]qu>tile range z well z m1n1 m$ian1 /&>d devia;n1 & v>i.e4 ,! te/s = loca;n ,mu#j "7 #j provid$ /ud5ts ;,t : 0 #e4cjeeca1 sign : 0 #be4e & sign$ rank : 0 #ffc4 ,! ,pr @> _\t_\ 0 @<#4jjja1 ,pr @> "7 _\,m_\ 0 @<#4jjja1 & ,pr @>"7 _\,s_\ 0 @<#4jjja4 ,! quantiles *>t %[$ ! level ( #ajj.0 maximum1 #ej.0 m$ian1 & #j.0 m9imum4 ,! hiiate ,proc$ure 0 us$ ) all ( ! v>iables & expla9$ 9 fur!r detail 9 ! foll[+ p>agraphs4

,9 ! mo;ts *>t1 ;,n is ! numb] ( obs]va;ns = ! v>iable4 ,9 \r case ! numb] ( obs]va;ns = ! v>iable 0 #ea4 ,9 4cus.n ( ! m1n = ! ,prop,text1 ! m1n ( \r data = prop tax is #hijfjea4hb : is al "kn z ! av]age4 ,\r /&>d devia;n is #aaihghec4c : is calculat$ by ! squ>e root ( ! v>i.e4 ,:5 ! /&>d devia;n is hi<1 ? m1ns t ! obs]va;ns >e m spr1d \4 ,9 \r obs]va;n1 ! /&>d devia;n is a hi< numb]1 "!=e ! obs]va;ns >e m spr1d \4 ,! skew;s m1sures ! direc;n ( ! v>i.e4 ,\r skew;s is #b4dghgehde4 ,s9ce ! m1n is m ?an ! m$ian1 \r results h a positive skew;s4 ,! uncorrect$ ,,ss = \r v>iables 0 #a4abcjf,e#af4 ,! uncorrect$ ,,ss %[s ! sum ( ! squ>$ datas4 ,9 o!r ^ws1 v>i.e is equal to ! sum ( squ>es ,ìA ! sum ( obs]va;ns squ>$ divid$ 9to ! numb] ( obs]va;ns !n divid$ by ! numb] ( obs]va;ns m9us #a4 ,! =mula is writt5 z v>i.e "7 "es ,ìA "#b _/ ;,n"> _/ "<;,n-#a">4 ,v>i.e is "kn z ! m1sure;t ( v>iabil;y4 ,kurtosis %[n on ! mo;t's table is ! m1sure ( ! h1vi;s ( ! tails 9 a 4tribu;n4 ,normally a kurtosis ( #j is "kn z normal 9 ! ,,sas program4 ,\r kurtosis is #f4jcadjbih : is a positive numb]4 ,! positive numb] %[s t ^! tails >e h1vi] = a normal 4tribu;n4 ,%[n 9 ,figure #c & ,figure #d is a table ( ! ,mo;ts & a graph f \r v>iable ,prop,tax4

,figure #d3 "<,,sas3 ,mo;ts ,graph3 ,prop,tax">

,! next *>t %[n 2l z ,figure #e is "kn z ! basic /ati/ical m1sures4 ,9 ? *>t x %[s ! m1n1 m$ian1 mode1 /&>d devia;n1 range1 & 9t]qu>tile range4 ,! m$ian is ! middle numb] ( ! values4 ,9 \r example1 ! m$ian is #dggfbeg4 ,we did n obta9 a mode f \r results = prop]ty tax :ile \r m1n 0 #hijfjeb4 ,\r range 0 #eajhdgfi : is ! m1sure;t ( ! spr1d ( ! v>iables4 ,? is det]m9$ by ! di6];e ( ! hitile range 0 #ghiihhi4

,! next *>t %[n 9 ,figure #f1 d]iv$ f ! ,univ>iate ,proc$ure te/s = loca;n3 ,mu#j "7 #j4 ,9 \r results we us$ ! te/s /ati/ics & ;p value4 ,9 /ati/ics we us$ /ud5t's ;t1 sign1 & sign$ rank4 ,9 ! ;p-value column ! *>t %[s ,pr @> _\t_\1 ,pr @>"7 _\,m_\1 & ,pr @>"7 _\,s_\4 ,! /ud5t's ;t is us$ to te/ ! null hypo!sis4 ,s9ce \r ;t-value is #e4cjeeca & ! ;p value is less ?an #4jjja ? %[s t ! null hypo!sis is reject$4 ,! sign te/ is us$ to te/ ! null hypo!sis due to ! popula;n m$ian4 #ea #hijfjea4hb #aaihghec4c #b4dghgehde #a4ab,,,e"6#af #acd4fjcdec #j #j #j #j #j #j #ea #dedbjhfdc #a4dd;e"6#ad #f4jcadjbih #g4ai;e"6#ae #afghfce4bb #j.0 #aj.0 #bj.0 #cj.0 #dj.0 #ej.0 #fj.0 #gj.0 #hj.0 #ij.0 #ajj.0,' ;,n ,m1n ,/d ,devia;n ,skew;s ,uncorrect$ ,,ss ,coeff ,v>ia;n ,mo;ts ,s]ies#a ,s]ies#b ,s]ies#c ,\r value 0 #be4e & ! ;p value is less ?an #j4jjja4 ,? %[s t ! m$ian = ! v>iable is di6]5t ?an z]o4 ,la/ly1 ! sign$ rank : is al "kn z ! ,wilcoxon te/1 te/s ! null hypo!sis t ! m$ian equals ,mu#j4 ,9 \r prop]ty tax example ! sign$ rank is #ffc & ! ;p-value is less ?an #j4jjja4 ,f ^! v>iables x is %[n t ! m$ian ( ! v>iable is di6]5t f z]o z well4

9s]t file"7img#gei4;jpg

,figure #e3 "<,,sas3 ,te/s = ,loca;n3 ,prop,tax">

,! quantiles *>t %[n 9 ,figure #f 2l provides levels & quantile f #ajj.0 to #j.04 ,! #ajj.0 is ! maximum value ( ! v>iable & ! #j.0 is ! m9imum value ( ! v>iable4 ,\r maximum value is #eafjeddh & \r m9imum value is #ebjfgi4 #ej.0 %[s ! m$ian value : is #dggfbeg4 ,! p]c5tages >e brok5 9to quantiles4 ,! #be.0 is ! f/ quantile :ile #ej.0 is ! second & #ge.0 is ! ?ird foll[$ by #ajj.0 2+ ! f\r? quantile4 ,! extreme obs]va;ns *>t is brok5 9to ! five l[e/ & five hit is #ebjfdgi & x is obs]va;n #df4 ,\r hits to decr1se at a 3/ant rate4

,figure #g %[n 2l %[s ! ,quantiles 9 graph =m4

9s]t file"7img#gfa4;jpg

,figure #f3 "<,,sas3 ,quantiles ,prop,tax">

,! quantiles is %[n 9 graph =m 9 ,figure #g4 ,bas$ on ! graph1 we c see f #j to #a "! 0 no *ange & ! graph %[s a 3/ant value4 ,f #a to #b "! is a dra/ic 9cr1se !n /ays ! same f #b to #c4 ,we al 2g9 to see />t+ at #c on to #ab "! is a /1dy decr1se & x has a /1dy slope ": x !n />ts to h an alm 3/ant value f #h to #ab4

,figure #g3 "<,,sas3 ,quantiles ,graph$3 ,prop,tax">

,extreme obs]va;ns is \r next *>t %[n 2l 9 ,figure #h4 ,"! is a l[ & a hi< column ) ! value & obs]va;n sec;n %[n4 ,! l[e/ value 0 #ebjfgi = obs]va;n #df & ! hi 9s]t file"7img#gfc4;jpg

,figure #h3 "<,,sas3 ,extreme ,obs]va;ns">

#j #ajjjjjjj #bjjjjjjj #cjjjjjjj #djjjjjjj #ejjjjjjj #fjjjjjjj #j #b #d #f #h #aj #ab #ad ,quantiles

,figure #i3 "<,,sas3 ,extreme ,obs]va;ns ,graph$">

,sec;n #c4c3 ,! ,univ>iate ,proc$ure = ,exp ,$

,9 ! mo;ts *>t = ,exp $1 ! result provid$ u ) a m1n = \r data z #bbfabaei4f4 ,! /&>d devia;n d]iv$ 0 #bcebicdh4i4 ,s9ce is x %[n t ! /&>d devia;n is hi<1 ? m1ns t ! obs]va;ns >e m spr1d \4 ,\r skew;s %[n = exp $ is #b4hdjihfid4 ,s9ce ! m1n result$ 9 #bbfabaei4f is m ?an ! m$ian ( #agjehgff1 \r results h a positive skew;s4 ,! uncorrect$ ,,ss = \r v>iables 0 #ebficd,e#af4 ,kurtosis %[n on ! mo;ts table is ! m1sure ( ! h1vi;s ( ! tails 9 a 4tribu;n4 ,normally a kurtosis ( #j is "kn z normal 9 ! ,,sas program4 ,\r kurtosis is #aj4ebbdaab :1 is a positive numb]4 ,! positive numb] %[s t ^! tails >e h1vi] = a normal 4tribu;n4 #j #ajjjjjjj #bjjjjjjj #cjjjjjjj #djjjjjjj #ejjjjjjj #fjjjjjjj ,l[e/ ,hii.e #e4ed,e"6#ad ,skew;s #b4hdjihfid ,kurtosis #aj4ebbda ,uncorrect$ ,,ss #e4bg,e"6#af ,correct$ ,,ss #b4ga,e"6#af ,coeff ,v>ia;n #ajd4jefagh ,/d ,]ror ,m1n #ccbgeeb ,! next *>t = exp $ is ! basic /ati/ical m1sures4 ,! m$ian %[n is #agjehgff & we did n obta9 a mode f \r results = exp $4 ,z previ\sly not$ \r m1n 0 #bbfabafj & \r range 0 #acbcdaga4 ,? is "kn z ! m1sure;t ( ! spr1d ( ! v>iables4 ,? is det]m9$ by ! di6];e ( ! hitile range 0 #aiahjie4 ,\r *>t = ! te/s = loca;n3 ,mu#j "7 #j4 ,! /ud5t's ;t is us$ to te/ ! null hypo!sis4 ,s9ce \r ;t-value is #f4giedcc & ! ;p-value is less ?an #4jjja ? %[s t ! null hypo!sis is reject$4 ,! sign te/ is us$ to te/ ! null hypo!sis due to ! popula;n m$ian4 ,\r value 0 #be & ! ;p-value is less ?an #j4jjja4 ,? %[s t ! m$ian = ! v>iable is di6]5t ?an z]o4 ,la/ly1 ! sign$ rank is #dj #fcg4e = \r exp $ example & ! ;p-value is less ?an #j4jjja4 ,? %[s t ! m$ian ( ! v>iable is di6]5t f z]o z well4 ,! quantiles *>t provides \r maximum value at #acejghjef & \r m9imum value is #bgcfcdc4 #ej.0 %[s ! m$ian value : is #agjehgff4 ,! extreme obs]va;ns *>t is brok5 9to ! five l[e/ & five hit is #bgcfcdc & x is obs]va;n #db4 ,\r hi,sec;n #c4d3 ,! ,univ>iate ,proc$ure = ,m$ ,9c

,9 ! mo;ts *>t = ,m$ 9c1 ! m1n ( \r data is #dehdj4dijb4 ,\r /&>d devia;n result$ 9 ! value ( #gceg4behca4 ,s9ce /&>d devia;n is hi<1 ! obs]va;ns >e m spr1d \4 ,\r skew;s %[n = m$ 9c is #jdfahbfic4 ,9 \r case = m$ 9c ! m1n is v close to ! m$ian4 ,\r m1n is #dehdjc4di & \r m$ian is #ddbhb4jj4 ,s9ce ! m1n is / m ?an ! m$ian1 \r results h a positive skew;s4 ,! uncorrect$ ,,ss = \r v>iables 0 #a4jihge,e#aa4 ,kurtosis %[n on ! mo;ts table is ! m1sure ( ! h1vi;s ( ! tails 9 a 4tribu;n4 ,normally a kurtosis ( #j is "kn z normal 9 ,,sas4 ,\r kurtosis is -#j4daihgga : is a negative numb]4 ,! negative numb] %[s t ^! tails >e li ,9 ! basic /ati/ical m1sures *>t1 ! m$ian %[n is #ddbhbjj & we did n obta9 a mode f \r results = exp $4 ,\r m1n 0 #dehdj4di :ile \r range 0 #bhgcd : is ! m1sure;t ( ! spr1d ( ! v>iables4 ,? is det]m9$ by ! di6];e ( ! hitile range 0 #iibc4 ,9 \r *>t = ! te/s = loca;n3 ,mu#j "7 #j4 ,! /ud5t's ;t is us$ to te/ ! null hypo!sis4 ,s9ce \r ;t-value is #dd4diegc & ! ;p-value is less ?an #4jjja ? %[s t ! null hypo!sis is reject$4 ,! sign te/ is us$ to te/ ! null hypo!sis due to ! popula;n m$ian4 ,\r value 0 #be4e & ! ;p-value is less ?an #j4jjja4 ,? %[s t ! m$ian = ! v>iable is di6]5t ?an z]o4 ,la/ly1 ! sign$ rank is #ffc = \r m$ 9c example & ! ;p-value is less ?an #j4jjja4 ,? %[s t ! m$ian ( ! v>iable is di6]5t f z]o z well4 ,! quantiles *>t provides \r maximum value at #fafgb & \r m9imum value is #cbich4 #ej.0 %[s ! m$ian value : is #ddbhb4 ,! extreme obs]va;ns *>t is brok5 9to ! five l[e/ & five hit is #cbich & x is obs]va;n #be4 ,\r hi

,sec;n #c4e3 ,! ,univ>iate ,proc$ure = ,grad ,rate

,9 ! mo;ts *>t = grad rate1 ! m1n ( \r data is #hb4iijaifa & \r /&>d devia;n is #e4daefafdi4 ,s9ce /&>d devia;n is hi<] ?an #j1 ! obs]va;ns >e m spr1d \4 ,\r skew;s %[n = grad rate is -#j4ibgdhhg4 ,? is ! only results t _h a negative numb] = ! skew;s4 ,? m1ns t ! m1n is less ?an ! m$ian 2c ( ! negative skew;s4 ,9 \r case = grad rate ! m1n is v close to ! m$ian4 ,\r m1n is #hb4iijbj & \r m$ian is #hd4hjjj4 ,s9ce ! m1n is less ?an ! m$ian1 \r results h a negative skew;s4 ,! uncorrect$ ,,ss = \r v>iables 0 #cebgbb4de4 ,kurtosis %[n on ! mo;t's table is ! m1sure ( ! h1vi;s ( ! tails 9 a 4tribu;n4 ,normally a kurtosis ( #j is "kn z normal 9 ,,sas4 ,\r kurtosis is #j4djccgfei : is a positive numb]4 ,! positive numb] %[s t ^! tails >e h1vi] = a normal 4tribu;n4

,! next *>t = grad rate is ! basic /ati/ical m1sures4 ,! m$ian %[n is #hd4hjjjj & unlike ! results ( \r o!r values1 grad rate is ! only obs]va;n t has a mode4 ,! mode = grad rate 0 #he4fjjjj4 ,\r m1n 0 #hb4iijbj4 ,\r range 0 #bb4cjjjj : is ! m1sure;t ( ! spr1d ( ! v>iables4 ,? is det]m9$ by ! di6];e ( ! hitile range 0 #h4ajjjj4

,\r *>t = ! te/s = loca;n3 ,mu#j "7 #j4 ,! /ud5t's ;t is us$ to te/ ! null hypo!sis4 ,s9ce \r ;t-value is #aji4dcfi & ! ;p-value is less ?an #4jjja ? %[s t ! null hypo!sis is reject$4 ,! sign te/ is us$ to te/ ! null hypo!sis due to ! popula;n m$ian4 ,\r value 0 #be4e;and ! ;p-value is less ?an #j4jjja4 ,? %[s t ! m$ian = ! v>iable is di6]5t ?an z]o4 ,la/ly1 ! sign$ rank is #ffc = \r m$ 9c example & ! ;p-value is less ?an #j4jjja4 ,? %[s t ! m$ian ( ! v>iable is di6]5t f z]o z well4

,! quantiles *>t provides \r maximum value at #ij4h & \r m9imum value is #fh4e4 #ej.0 %[s ! m$ian value : is #hd4h4 ,! extreme obs]va;ns *>t is brok5 9to ! five l[e/ & five hit is #fh4e & x is obs]va;n #i4 ,\r hi

,sec;n #c4f3 ,! ,,reg ,proc$ure

,! ,,reg ,proc$ure provid$ dep5d5t v>iable ,,col ,,col1 college1 %[n 9 ,figure #i 2l4 ,"! 7 #ea obs]va;ns r1d & #ej obs]va;ns us$4 ,x provid$ tables = analysis ( v>i.e & p>amet] e/imate : w 2 fur!r 4cuss$ 9 ! foll[+ p>agraphs4

9s]t file"7img#gde4;jpg 9s]t file"7img#gbh4;jpg

,figure #aj3 "<,,sas ,! ,reg ,proc$ure">

,\r regres.n equa;n is writt5 z foll[s3 ;,,,p "7 a ,ìA bq,' ,or ;,q "7 .b#j "6 .b#a,p "6 ;,u ,! ;,q equa;n is a func;n ( ;,p4 ,! f/ table %[s analysis ( v>i.e4 ,9 ! table is degree fre$om or ,,df1 sum ( squ>es1 m1n squ>e1 ;,f-value & ,pr @> ;,f4 #a"> ,degree fre$om3 degree fre$om is associat$ ) ! s\rces ( v>i.e4 ,9 ord] to obta9 total v>i.e we use ;,n-#a4 ,9 \r example "! 7 #ej obs]va;ns us$ = ! degrees fre$om is #ej-#a"7 #di4 #b"> ,sum ( ,squ>es3 ! sum ( squ>es is det]m9$ by ! ,,ss total ,ìA ,,ss residual or ,,ss total "7 ,,ss model "6 ,,ss ,residual "7 #j4ieii4 ,? is \r ;r-squ>$ value4

#c"> ,m1n squ>e3 ,! m1n squ>e is equal to ! sum ( squ>es divid$ by ! degree fre$om4 ,9 \r example1 ? wd 2 #a4fiagh,e#aa _/ #b "7 #hdehhighcec = ! model4 ,= ! residual x wd 2 #gjgfdhfiia _/ #dg "7 #aejefceec4

#d"> ,! ;,f- value is calculat$ by divid+ ! m1n squ>e & ]ror4 ,9 \r case \r equa;n looks l #hdehhighcec _/ #aejefceec "7 #efa4hc1 s \r ;,f- value is #efa4hb4 ,? %[s u t we h significant results z ! ,pr @> ;,f is @< #4jjja4 ,! value = \r ;,f is #efa4hb1 ;p @<#j4jjja ? %[s t \r model has a significant por;n ( v>ia;n ) ! data us$4

#e"> ,root ,,mse3 ,\r root ,,mse is equal to #abbgj4 ,we get ? by ! /&>d devia;n ( ! ]ror t]m4 ,! value = \r ,root ,,mse 0 #abbgj : %[s a /&>d devia;n ( ! ]ror t]m 9 ! data4 ,\r coe6ici5t ( v>i.e 0 #bf4ejhia %[s ! v>ia;n 9 ! data4

#f"> ;,r- ,squ>$ & adju/$ ;,r-squ>$3 ,we see t \r *ange 9 ;,p is #j4ieha or #ie.0 ( ! v>ia;n 9 ! *ange 9 ;,q4 ,! ;,r-squ>$ value 0 #j4ieii or #ie4ii.0 & ! adj ;,r-squ>$ value 0 #4jieha or #ie4ha.04 ,values t >e close to #a m1n ? is a m significant fit4 ,! ;,r-squ>$ value ( #j4ieii %[s t m$9c a3.ts = #ie4ii.0 ( ! v>ia;n = exp$4 ,! *ange is ;p expla9s #ie.0 ( ! v>ia;n 9 ! *ange 9 ;,q4 ,= ,m$9c1 we see t ! p>amet] e/imate or ,2ta is negative1 : is gd = \r hypo!sis4 ,we use \r regres.n equa;n1 ;,q "7 .b#j "6 #a,,,p "6 ;u ;q "7 #bcicc ,ìA #j4gfcjc ;p "6,' ;,u

,we obta9 ^! numb]s by \r 9t]cept p>amet] e/imate is equal to #bcicc & \r ,m$9c p>amet] e/imate is -#j4gfcjc4 ,= e #a unit 9cr1se 9 college1 ! m$9c w h #j4gfcjc less4 ,h["e1 we see 9 \r exp$ p>amet] 9t]cept is x a positive numb]1 #j4jjbec : m1ns !y >e sub/itutes4 ,z !y 9cr1se1 s does ;,q1 college4

#g"> ,p>amet] e/imates3 ,! p>amet] e/imate values >e us$ to pr$ict ! dep5d5t v>iables f ! 9dep5d5t v>iables & %[s ! rela;n%ip 2t ! 9dep5d5t & dep5d5t v>iable4 ,"! is "o dep5d5t & #b 9dep5d5t v>iables4 ,\r hypo!sis equa;n is writt5 z3 ,qb "7 .b#j "6 .b#a,e "6 .b#b,m "6 ;,u ,":3 .b#j "7 #bcicc1 .b#a "7 #j4jjbec1 .b#b "7 -#j4gfcjc1 ;,u "7 ]ror t]m4 ,? is ! dem& = "<;,e"> exp$ & "<;,m"> m$9c4 ,:5 plu7+ 9 ! numb]s we obta9 ,qb "7 .b#j "6 .b#a,e "6 .b#b,m "6 ;,u ,qb "7 "<#bcicc"> "6 "<#j4jjbec">,,,e "6 - "<#j4gfcjc">m "6,' ;,u

#h"> ;,t-te/ %[s ! degree fre$om is #a4 ,degree fre$om is us$ to *eck = a3uracy ( ! data 9put & ( ! model4 ,! correct$ total is alw less ?an ! total numb] ( obs]va;ns 9 ! *>t4 ,\r total numb] ( obs]va;ns us$ 7 #ej4 ,= \r example #ej-#a"7#di4 ,= exp$ .b#a "7 #j4jjbec1 /&>d ]ror "7 #j4jjjjgfjf1 & degree fre$om "7 #a4 ,we use ;t "7 #j4jjbec _/ #j4jjjjgfjf "7 #cc4cc4 ,! absolute value ( ;t @<#4jjja4 ,= m$9c .b#b "7 -#j4gfcjc1 /&>d ]ror "7 #j4bdjhg1 & degree fre$om is #a4 ,we use ;t "7 -#j4gfcjc _/ #j4bdjhg "7 -#c4ag4 ,! absolute value ( ;t is #j4jjbg : is less ?an #b s x is n di6]5t f z]o4

,! second table 9 ! p>amet] e/imates al %[s het]osc$as;y 3si/5t ) /&>d ]ror1 ;t-value1 ,pr @> _\t_\1 & v>i.e 9fla;n4 ,\r coe6ici5ts 7 ,exp,$ & ,m$,9c4 ,9 ord] to get ! ;t- value we divide ! p>amet] e/imate by ! /&>d ]ror4 ,= \r results \r ;t-value = 9t]cept 0 #b4hj1 = exp$ #ag4dd1 & = ,m$,9c ,ìA#c4he4 ,! negative numb] is a r$uc;n due to ! numb] 2+ 2l z]o4

9s]t file"7img#gcb4;jpg

,figure #aa3 "< ,,sas ,! ,,reg ,proc$ure">

,\r next model is ,! ,,reg ,proc$ure t provides ,durb9-,watson ;,d t is us$ to te/ = autocorrela;n4 ,f ! regres.n results ! ,durb9 ,watson ;,d 0 #a4gif ) #ej obs]va;ns : %[s a positive autocorrela;n4 ,! f/ ord] ( autocorrela;n 0 #j4jih4 ,s9ce \r ;,d value 0 #a4gif ? %[s positive autocorrela;ns4

,sec;n #c4g3 ,! ,,autoreg ,proc$ure

,! ,,autoreg ,proc$ure 0 al d]iv$ 9 ! ,,sas program4 ,? proc$ure provid$ ord9>y l1/ squ>e e/imates1 p>amet] e/imates1 e/imates ( autocorrela;ns1 prelim9>y ,,mse1 e/imates ( autoregressive p>amet]s1 & ! yulewalk] e/imates4 ,? proc$ure is us$ :5 ]rors >e auto correlat$ or het]osc$a/ic;y to e/imate & pr$ict l9e> regres.n models = "t s]ies & us$ to correct !m4

9s]t file"7img#gcd4;jpg

,figure #ab3 "<,,sas3 ,! ,,autoreg ,proc$ure">

,! f/ *>t label$ ord9>y l1/ squ>es %[n 9 ,figure #ab1 provid$ ,,,sse1 mse1 sbc1 mae1 mape1,' ,durb9 ,watson1 ,,dfe1 ,root ,,,mse1 aic1 aicc1 hqc1,' regress ;r-squ>e & total ;,r-squ>e4 ,,sse m1ns sum ( squ>e ]rors1 ,,mse m1ns m1n squ>e ]ror1 ,,mae m1ns m1n absolute ]ror1 ,,mape /&s = m1n absolute p]c5tage ]ror1 & ,,dfe /&s = degree fre$om ]ror4 ,9 \r *>t ! 9t]cept value ( p>amet] e/imate is #bcicc1 exp$ is #j4jjbec1 & m$9 is #j4gfcjc4 ,\r /&>d ]ror = 9t]cept 0 #ajiei1 exp$ #j4jjjjgfa1 & m$9c #j4bdji4 ,\r ;t-values 7 #b4ah1 #cc4cc1 & -#c4ag4 ,! approximate ,pr @> _\t_\ 0 #j4jcdj1 @<#4jjja1 & #j4jjbg4

#a"> ,root ,,mse3 9 \r example1 ! root ,,mse 0 #abbgj & ,r#b 0 #j4ieii4 ,! total ;r-squ>e _h ! same value ( #j4ieii m1n+ ! auto regressive ]ror 0 n us$4

#b"> ,e/imat$ model3 " or y#a "7 ,9t]cept "6 ,exp,$" "6 ,et 4 ,\r e/imat$ v>i.e ]ror ""<,et"> "7 #aejefceec or ,,mse">

#c"> ,yule ,walk]3 \r ,,mse f.d 9 ! ,yule ,walk] results 0 #aebeifgfd4 ,we notice t ,r#b is #j4ifjb4 ,x 0 adju/$ to help pr$ict ! next ;y-value4 ,! program "kn z ,,sas 0 us$ to run ! regres.ns z j 4cuss$4 ,? program provid$ a visual ( ! results bas$ on family 9come & ! gradua;n rates4 ,z pr$ict$1 /ud5ts :o come f a family ( hi<] 9come >e m likely to graduate f college4 ,^! /ud5ts h a bett] advantage ?an ! /ud5ts :o >e f l[ 9come families4 ,! v>iables us$ 9 ! regres.n 7 prop]ty tax1 m$ium 9come1 & gradua;n rate4 ,! *>ts %[ m1n1 m$ium1 & mode4

,3clu.n3

,9 3clu.n1 bas$ on ! >ticles & regres.ns pres5t$1 ! gap 2t ! ri* & ! poor has an e6ect on college gradua;n rates4 ,x is no surprise t /ud5ts f hi<] 9come families h a bett] advantage t[>ds su3ess & complet+ _! college $uca;n1 simply due to ! support he or %e has f _! families4 ,l[] 9come family /ud5ts may n h ! same type ( support sy/em4 ,*n f l[] 9come families may lack hav+ _! p>5ts &_/or p>5ts,0 home to assi/ on s*ool "w due to _! p>5ts hav+ to "w odd h\rs at l[ 9come jobs4 ,hav+ guid.e f an old] 9dividual s* z p>5ts & gr&p>5ts1 help a /ud5t h1d on ! "r pa? = su3ess 9 life4 ,? is n to say t l[] 9come families >e n supportive ( _! *n :5 x comes to att5d+ college1 b ^! l[] 9come families >e unable to provide :at ! hi<] 9come families c = _! *n2 s* z ,,sat prep1 m"oy = exp5ses1 & tutor+4

,l[] 9come family /ud5ts face di6]5t ob/acles t hi<] 9come family /ud5ts d n4 ,^! l[] 9come /ud5ts typically f9d !mvs hav+ to "w :ile att5d+ college1 : has a grt e6ect on ! am.t ( "t !y c sp5d on _! c\rse"w4 ,try+ to bal.e bo? s*ool & "w is a di6icult task = _m p4 ,? l1ds to dropp+ \ 2c !y >e unable to "w & att5d s*ool at ! same "t4 ,hi<] 9come /ud5ts may n h to get a job :ile att5d+ college 2c !y >e provid$ ) ! m"oy exp5ses !y ne$ by _! families4

,ano!r important topic 9 reg>ds to ! l[] gradua;n rate 2t /ud5ts is /ud5ts t h *n prior to att5d+ college or dur+ college4 ,complet+ college 2comes m di6icult = ^? /ud5ts :o has ano!r 9dividual o!r ?an !mvs to take c>e (4 ,:ile hav+ *n & att5d+ college z ! same "t ? cd 2 extremely di6icult1 especially = a s+le p>5t4 ,he or %e w h to f9d a sitt] or pay = "dc>e :ile !y att5d classes4 ,=tunately1 "s college (f] "dc>e on site = /ud5ts4 ,al? ? is a help;l opportun;y = ^! s+le p>5ts1 x has be5 %[n t s+le p>5ts >e less likely to graduate & complete _! programs ?an ^? /ud5ts :o d n h a *4 ,/ud5ts ) *n may al take m* l;g] to complete _! degrees due to hav+ to att5d less c\rses e seme/] oppos$ to a /ud5t :o is able to 2 full "t 9/1d ( "p "t4 ,s+le p>5ts att5d+ college >e =c$ to face di6icult ob/acles ?an ^? /ud5ts :o d n h *n :ile att5d+ college4

,"! likely w 3t9ue to 2 a gap 2t ! ri* & ! poor 9 t]ms ( gradua;n rates se5 9 college "?\t ! ye>s4 ,( ! _m /ud5ts t att5d college e seme/]1 "! >e num]\s /ud5ts t drop \ = _m di6]5t r1sons4 ,"s ( ! r1sons 9clude fail+ classes or unable to pay = ^! college classes4 ,if complet+ a college degree 0 an easy a*ieve;t1 "ey"o wd h a college degree4 ,x has be5 %[n t /ud5ts :o come f l[ 9come families >e n giv5 ! tools & guid.e !y ne$ 9 ord] to prep>e !mvs = college4 ,? cd ev5 2 provid+ /ud5ts ) ! requir$ textbooks e ye> = ea* c\rse 9 hi< s*ool4 ,"s l[] 9come >1s may n 2 able to provide _! /ud5ts ) ! same am.t ( tools t a hi<] 9come s*ools >e able to4 ,"s s*ools ev5 provide laptops & tablets = _! /ud5ts1 :ile l[] 9come >1s mi ,l[] 9come families >e provid$ ) bett] f9ancial assi/.e ?an ^? ( hi<] 9come families & ! m aid (f]$ to ^! /ud5ts1 ! grt] ! am.t ( /ud5ts att5d+ college4 ,^! l[] 9come /ud5ts may take advantage ( gett+ ^! c]ta9 grants & s*ol>%ips4 ,al? ^! l[] 9come /ud5ts 5roll 9 college1 ! likely \tcome t !y w complete _! programs is less ?an ^? /ud5ts ( hi< 9come families4 ,^! /ud5ts may n "k :at x is to 2 4cipl9$ reg>d+ s*ool "w & cd see !mvs fail+ \ due to ?4 ,z %[n "?\t ? pap]1 ? is 2c /ud5ts f l[] 9come families >e n z prep>$ = college4 ,!y lack ! /ud5t te*niques1 prep1 & tutor+ t is provid$ to hi< 9come families4 ,!y al lack ! family support1 : has a grt impact on a /ud5t's self-e/eem & 3fid;e4 ,)\t *ange provid$ = l[] 9come families1 ! gap 2t ! ri* & ! poor is unlikely go+ to *ange4

,ref];es

  • 8,! ,p]si/+ ,racial ,gap 9 ,college ,/ud5t ,gradua;n ,rates40 ,! ,j\rnal ( ,blacks 9 ,hi<] ,$uca;n1 no4 #de1 #bjjd1 pp4 #gg-#he4 ,,j/or1 www4<|->j/or4<|->org_/<|->/able_/<|->#daccfbd4
  • ,&]son1 ,lane4 8,! ,gradua;n ,gap3 ,:y ,poor ,kids ,>5't ,gett+ ,"? ,college40 ,june #bjae4
  • ,b>%ay1 ,jill4 8,f$]al ,data ,%[s #c4i ,million ,/ud5ts ,dropp$ \ ( ,college ) ,debt 9 #bjae & #bjaf40 ,novemb] #f1 #bjag4 https3_/_/<|->wa%+tonmon?ly4<|->com_/<|->#bjag_/<|->#aa_/<|->#jf_/<|->federal-data-%[s-#c-#i-million-/ud5ts-dropp$-\-(-college-)-debt-9-#bjae-&-#bjaf_/
  • ,bru91 ;,j4 #bjjf4 newte/3 comm& to compute new te/4 ,,ucla3 ,/ati/ical ,3sult+ ,gr\p4 https3_/_/<|->/ats4<|->idre4<|->ucla4<|->$u_/<|->/ata_/<|->ado_/<|->analysis_/4
  • ,fav]o1 ,na?an4 8,:y ,gradua;n ,rates ,lag = ,l[-,9come ,college ,/ud5ts40
  • ,ma/]1 ,/anley ;,h4 8,! ,e6ect ( ,family ,9come on ,*n's ,$uca;n3 ,"s ,f9d+s on ,9equal;y ( ,opportun;y40
  • ,,sas_/,,ets4 #ac4b ,us]s ,guide4 8,! ,autoreg ,proc$ure40 ,*apt] #h4 ,pg #cjb-#caa4 https3_/_/<|->support4<|->sas4<|->com_/<|->docu;ta;n_/<|->onl9$oc_/<|->ets_/<|->#acb_/<|->autoreg4pdf
  • ,,sas_/,,/at4 #ac4b ,us]s ,guide4 8,! ,,reg ,proc$ure40 ,*apt] #he4 ,pg #fihj-#fiia4 https3_/_/<|->support4<|->sas4<|->com_/<|->docu;ta;n_/<|->onl9$oc_/<|->/at_/<|->#acb_/<|->reg4pdf
  • ,"y1 ,alanna ,bjorklund4 8,family ,9come & ! ,college ,comple;n ,gap40 ,m>* #bjaf4 ,john ,hopk9s ,s*ool ( ,$uca;n4 https3_/_/<|->$policy4<|->$uca;n4<|->jhu4<|->$u_/wp-3t5t_/<|->uploads_/<|->#bjaf_/<|->#jc_/<|->,familyincomeandcollegegapmasthead,,final4pdf