White College Graduates Are Doing Great With Their Parents' Money

July 19, 2018 | | The Atlantic |

The two researchers focused specifically on inheritances among families where at least one parent has a college degree. They looked at families like this in order to test the notion that higher education is some great equalizer. [...]

Meschede and Taylor focused on inheritances of more than $10,000 because, they say, these qualify as “transformative” assets—meaning, they could significantly alter the course of a life. As Mark Huelsman, a policy analyst at Demos, an advocacy group, tweeted earlier this week after seeing Meschede and Taylor’s study, “the average family inheritance to a white college grad can pay off the average undergrad debt balance”—more than $30,000—“and have enough left over for a 20 percent down [payment] on a $575,000 home.” (And that’s if they have student debt to begin with.)