Parents' expectations for whether their children will attend college differ based on family income, students' academic performance, race and gender, according to a report released by the United States Department of Education on Tuesday, the Chronicle of Higher Education reported. Only 64 percent of students with B averages were expected by their parents to earn bachelors degrees, though most colleges and universities will accept students with B averages, the report said. The report was based on a 2003 survey of parents of children in grades six through 12. White families were most likely to help children pay for college, the report said, while Asian-American parents were more likely to expect their children to attend college than black, white or Hispanic parents. Single parents of all racial and ethnic groups were least likely to expect their children to receive bachelors degrees or to help pay for college, the report said.
The White House is advocating that the Senate support a House bill that would permit the Department of Education to purchase several billion dollars of federal student loans and ensure that lenders have adequate capital to continue providing loans, according to The New York Times. The legislation, a response to fears that an economic recession may harm the student loan industry, would likely be most beneficial to students attending commercial career colleges. These students have already found federal loans to be in increasingly short supply. Privately-held student loans, a significantly smaller market than the federal loan market, will not be eligible for federal purchase under the proposal.
