A collegiate education has long been sold as a ticket to economic success. However, as the cost of living rises and student debt balloons to $1.6 trillion , this steep financial burden does not pay off equally for everyone.
That burden can be even higher for first-generation students who report higher levels of student debt and lower earnings after graduation. Bold.org examined Pew Research Center and the Federal Reserve data from 2021 to reveal earning disparities between first-generation college graduates and their peers.
For this analysis, we define first-generation students as those raised by parents who did not earn a bachelor’s degree, even if one of their older siblings did. As of 2020, more than half of the undergrads in the United States were first-generation students, according to Center for First-generation Student Success data. However, despite representing a significant share of the student body, not all universities support first-generation students equally.
A 2022 survey of about 1,000 first-generation students from Inside Higher Ed and Kaplan found only about 1 in 4 strongly agreed their college helped them navigate college life. For first-generation students, navigating an unfamiliar work environment, not having familial professional networks, and limited access to generational wealth can create compounding obstacles along their path to success. Research has also found that first-generation students are more likely than continuing-generation students—or t.