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Family Background, Academic Ability, and College Decisions in the 20th Century U.S

Author

Listed:
  • Todd Schoellman

    (Arizona State University)

  • Christopher Herrington

    (Virginia Commonwealth University)

  • Lutz Hendricks

    (UNC Chapel Hill)

Abstract

We harmonize the results of a number of historical studies to document changes in the patterns of who attends college over the course of the 20th century. We find that family income was twice as important in determining who went to college at the start of the century as compared to the end, while academic ability was half as important. The importance of income declined and of academic ability rose until roughly 1960, at which point the two are equally important. We construct and calibrate a model to understand what forces can explain the magnitude and timing of these changes, including changes in the skill premium, the financial environment, and the non-pecuniary benefits of college.

Suggested Citation

  • Todd Schoellman & Christopher Herrington & Lutz Hendricks, 2015. "Family Background, Academic Ability, and College Decisions in the 20th Century U.S," 2015 Meeting Papers 465, Society for Economic Dynamics.
    • Handle: RePEc:red:sed015:465
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    References listed on IDEAS

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    1. Diego Restuccia & Guillaume Vandenbroucke, 2014. "Explaining Educational Attainment across Countries and over Time," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 17(4), pages 824-841, October.
    2. Lance J. Lochner & Alexander Monge-Naranjo, 2011. "The Nature of Credit Constraints and Human Capital," American Economic Review, American Economic Association, vol. 101(6), pages 2487-2529, October.
    3. Hendricks, Lutz & Schoellman, Todd, 2014. "Student abilities during the expansion of US education," Journal of Monetary Economics, Elsevier, vol. 63(C), pages 19-36.
    4. Philippe Belley & Lance Lochner, 2007. "The Changing Role of Family Income and Ability in Determining Educational Achievement," Journal of Human Capital, University of Chicago Press, vol. 1(1), pages 37-89.
    5. Kevin Donovan & Christopher Herrington, 2019. "Factors Affecting College Attainment and Student Ability in the U.S. since 1900," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 31, pages 224-244, January.
    6. Felicia Ionescu, 2009. "The Federal Student Loan Program: Quantitative Implications for College Enrollment and Default Rates," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 12(1), pages 205-231, January.
    Full references (including those not matched with items on IDEAS)

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