College students from middle-income families are more likely to end up with student loan debt than their peers from both lower and higher socioeconomic backgrounds, a new study has found.
The research by Jason Houle, an assistant professor of sociology at Dartmouth College, will be published in January in Sociology of Education. “Children from middle-income families make too much money to qualify for student aid packages, but they do not have the financial means to cover the costs of college,” Houle writes in the article. The study found that students from families earning between $40,000 to $59,000 per year racked up 60 percent more debt than lower-income students and 280 percent more than their peers whose families earned between $100,000 and $149,000 per year. A similar trend held for more affluent middle-income families earning up to $99,000 annually.