This is the case for both African Americans and Caucasians. Studies suggest that those who have attended at least some college can expect to live 5 to 7 years longer than their peers with no education beyond high school. Young people in high-wealth families can focus on the academic challenges of higher education instead of the financial ones. Also, with a high school diploma in hand, they’d be eligible to pursue a college degree if desired. The level of education, training, and experience that is required to do a particular job The level of demand that exists for the type of labor you are skilled/trained/educated to provide The number of others who have similar or better skills who can compete for the job How good you are at what you do Getting a Degree Does Affect Salary—and So Much More. In practical terms, these findings make sense. What may come as a bit of a surprise is that having completed some college course work is better than having no college credits at all. Poor families are less likely to be able to afford proper nutrition and sometimes simply dont have enough food at home. Income gaps are mainly due to the difference in early education investment. In addition to income, wealth can buy educational achievement through more books, tutors, and private schools. By educating citizens on agriculture and farming techniques they become capable to growing and selling their own food. This creates a source of income as well as healthy living. Education typically leads to better jobs, more money and many other benefits, including better health insurance, which leads to better access to quality health care. Those in the procession of masters, doctoral or professional degrees earning  more during their careers than those with less education. Education also changes structures in food security. On the surface, reforming a state’s education finance system sends more money to low-income schools, which is what SIG did without success. Plus, the quality of education can affect salary. Applicants in the lower income levels struggle to save more than they owe, resulting in negative average net worth for those making less than $60,000. The short answer to that question is yes. For example, having a college degree means that children born into the middle three income quintiles are more than 75 percent more likely to advance to a higher income quintile as adults than those who do … Thanks for your patience and untiring will to help me. The Affect That the Economy Has on American Education. How to Respond to a Job Offer While Waiting for Other Opportunities, Smart Tips for Job Searching During the Holidays. Unfortunately, in impoverished families there tends to be a higher prevalence of such adverse factors as teen motherhood, depr… An advanced degree such as a master’s degree boosts income to $73,738. 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