Financing of college education by single-parent and two-parent families

Abstract

The financing of college education by male and female single-parent families and two-parent families is compared. Female single parents are at a significant disadvantage in being able to accumulate funds, but this is partially offset by financial aid. Variables accounting for significant variation in the parents' contribution to student education expenses are: public versus private school, financial aid, parents' saving behavior, students' contribution, race, and family type. The amount of parental contribution is positively correlated with parent net worth, family per capita income, and total student cost; it is negatively correlated with age of the student.