Majority of affluent students in college?

There's this prevailing idea that most college students come from wealthy families. Does this hold water, or is it just a stereotype? I'm interested to know the socioeconomic diversity in colleges.

Actually, socioeconomic diversity can greatly vary from college to college. While the perception of many colleges, especially elite private institutions, consists of predominantly affluent students, the reality is more complex. According to data from the National Center for Education Statistics, approximately 37% of undergraduate college students in the U.S come from families with incomes of $60,000 or less in 2019.

However, more prestigious and higher-cost universities tend to have a larger proportion of wealthy students. A study by the New York Times revealed that at some Ivy League colleges like Dartmouth and Princeton, about 70% of the student bodies come from the top 20% of the income scale. At the same time, many of these institutions boast robust financial aid programs to help low-income students.

On the other hand, public universities and community colleges tend to have a larger proportion of students from lower-income families. For instance, at the California State University system, about 56% of all undergraduate students received Pell Grants, need-based grants for low-income students, in the 2016-2017 academic year.

In conclusion, the financial dynamics of a college's student body can vary widely based on the type and location of the institution. It's important to remember that these statistics don't capture the entire picture, and there are individuals from all sorts of economic backgrounds attending every type of post-secondary institution.