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  • Essay / What are the downsides of wealth and education

    “High-income parents have resources they can use for this, and low-income parents have had to cut back on them,” said Sabino Kornrich , professor of sociology at Emory University who co-authored the report. “Since the recession, we have seen this spending inequality become even more pronounced. Colleges and universities have their own financial concerns. Public universities, for example, faced with declining public funding, have chosen not only to compensate for this by raising their tuition fees, but also by recruiting higher-paid foreign students. These institutions, along with private, nonprofit colleges and universities, offer wealthier applicants billions of dollars in financial aid that once went to low-income applicants, the U.S. Department of Education has found. While private colleges and universities often report that they give out a lot of money in financial aid, they do not specify who benefits, and the proportion of students who receive aid for reasons other than need has doubled over the past over the past 20 years, the ministry