Economics of Education

 

You might know . . .

Inner-city schools are struggling.

But maybe you’ve never thought about . . .

Most American schools are funded by local property taxes. School districts in high-poverty areas have fewer guidance counselors and psychologists, lower-paid teachers, bigger class sizes, and more run-down facilities than wealthier districts. Students of color are particularly disadvantaged. Coming from a high-poverty district can irreparably damage a child’s future, leading to fewer years of education completed, lower lifetime earnings, and higher rates of poverty in adulthood. Those students who are able to attend college are faced with debt loads that can cripple their financial futures.

“All of us in the academy and in the culture as a whole are called to renew our minds if we are to transform educational institutions—and society—so that the way we live, teach, and work can reflect our joy in cultural diversity, our passion for justice, and our love of freedom.”

bell hooks

As of 2012, the achievement gaps between white students and students of color were 30% to 40% smaller than in the 1970s. Nonetheless, the gaps are still very large, ranging from 0.5 to 0.9 standard deviations. The largest achievement gap is between white and Black students in twelfth-grade math.

Source: Stanford Center for Education Policy Analysis

 

The students in the Lexington, Massachusetts, school district perform 3.8 grade levels above the national average. The median family income for this district is $163,000. The racial makeup of the district is 59% white, 33% Asian/other, 4% Latinx, and 4% Black.

In contrast, students in the district in Cleveland Municipal, Ohio, perform 2.0 grade levels below average. This district has a $24,000 median family income and the makeup of the community is 67% Black, 16% white, 13% Latinx, and 4% Asian and other.

Source: The New York Times

 

 

WHAT YOU CAN DO

  • Find out if your state funds universal pre-K education. Contact your representatives to advocate for more funding for pre-K programs. See page 145 for a helpful guide to contacting your representatives.
  • Volunteer as a tutor or help with an after-school program in your own school district or in a nearby district.

Around 44.2 million Americans are in debt from student loans. The average amount of debt amassed by 2016 college graduates was $37,172 per student.

Source: Student Loan Hero

 

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