Study: Having Rich Parents Makes You Less Successful
An assistant professor at the School of Social Sciences, Humanities and Arts at the University of California at Merced, Laura Hamilton, claims that she has found proof that having wealthy parents leads to less successful college careers.
From Hamilton’s “More is More or More is Less?”:
“Parental aid decreases student GPA, but it increases the odds of graduating—net of explanatory variables and accounting for alternative funding.
Rather than strategically using resources in accordance with parental goals, or maximizing on their ability to avoid academic work, students are satisficing: they meet the criteria for adequacy on multiple fronts, rather than optimizing their chances for a particular outcome.
As a result, students with parental funding often perform well enough to stay in school but dial down their academic efforts.”
In other words, those with lots of help from mom and dad tend to take things easy, and while they don’t flunk out or have to drop out because they can’t afford school, they tend to settle for mediocrity- just doing enough.
Paul Hudson | Elite.