Socioeconomic Status And The Key Informant Essay

1043 Words Nov 20th, 2015 null Page
Socioeconomic status has been discussed by the literature and the key informant interviewees as a contributing factor for differences among young adult cohorts. The issue that socioeconomic status creates is a system where talented young adults are deterred from pursing a post-secondary education due to cost. These individuals have the talent to be successful at the post-secondary level but often are funneled into the labor market without the necessary skills to earn a livable wage. The quality of education that individuals have access to is important. The economic future demands and educated population to solve tomorrow’s challenges. The current system is creating inequality in the access to education.
Information from the interviews that were conducted highlight how the cost of education has grown over time. Due to this growth there has been increase in government educational loans for students, in addition to parents having to borrow to help their child pay for school. High default rates of parent plus loans lead to new regulations for the parent plus loan. There is the question of if low income parents should finance their child’s education, given their vulnerable financial status.
Another finding from the informative interviews, is that students of low income parents tend to lack financial literacy. Many young adults age 17-19 are expected to make complex decisions about career and financing education before they have been able to fully conceptualize their…

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