We investigate the roles of parents' economic resources in children's educational attainment with special attention to assets. Using data from the Panel Study of Income Dynamics, we find that parents' liquid assets have significantly positive associations with years of schooling, high school...

This study is a test of two theoretical models linking parental economic resources to children's post-secondary education, short-term borrowing constraints, and long-term family background. A series of structural equation models (SEM) is tested using data from a sample of young adults...