CHICAGO (Oct. 29, 2025) – Illinois colleges could see 1,000 more students graduate every year if the state used data to identify students who are low wealth, instead of relying solely on income. This is a key finding from a new report jointly released by the Partnership for College Completion (PCC), the Higher Education, Race, and the Economy (HERE) Lab, and The Institute for College Access & Success (TICAS).
“Beyond Income: How Wealth Can Better Target State Funding for Higher Education” analyzes how wealth and income combine to affect students’ chances of getting to and through college. The report shows how the state already collects data that can uncover additional barriers faced by students who are “dually disadvantaged,” meaning that their families have few resources to spend on colleges in terms of either income or wealth.
In addition to Illinois, researchers analyzed data from California and New York, as these states have shown a commitment to supporting higher education in the face of historic reductions in federal support.
“A college degree is still a vital part in economic upward mobility, but if our students are hindered by their family’s income or wealth to fall back on, that dream of being a college graduate will grow increasingly out of reach,” PCC Executive Director, Kyle Southern, Ph.D., said. “This report showcases that we must consider all factors students face and provides achievable recommendations to support students across Illinois.”
Wealth inequality in the United States has grown considerably for decades, shifting resources from a wide swath of families in the middle classes to those near the top of the U.S. class structure. In Illinois, the wealthiest area of the state is Cook County Northeast, where the median household wealth is just over a million dollars. Meanwhile, the least wealthy area of the state is Chicago City South, where the median household wealth is just $17,000.
Students from low-wealth households–relative to their peers who are similarly from low-income but not low-wealth households–must borrow more to attend college and face unique access and completion barriers. For these dually-disadvantaged students, current aid formulas simply offer too little. Eligibility for Illinois’ Monetary Award Program (MAP) is not sensitive to wealth differences.
To identify and target students for stronger return on investment, the report provides three possible courses of action:
- Identify dually-disadvantaged students using information already included in the Free Application for Federal Student Aid (FAFSA)
- Distribute an additional need-based grant to dually-disadvantaged students
- Allocate funding to colleges and universities enrolling dually-disadvantaged students
About the Partnership for College Completion
The Partnership for College Completion (PCC) champions policies, practices, and systems that increase college completion and eliminate degree completion disparities for low-income, first-generation, and students of color in Illinois – particularly Black and Latinx students. For more information, visit partnershipfcc.org.
About the HERE Lab
The Higher Education, Race, and the Economy (HERE) Lab was established in 2021 by Dr. Laura Hamilton and Dr. Charlie Eaton. As a community and policy-engaged research institution, the Lab’s mission is to understand and address disparities in the distribution of resources and risks within higher education systems and economies. For more information about the HERE Lab, visit herelab.org.
About TICAS
The Institute for College Access & Success (TICAS) is a trusted source of research, design, and advocacy for student-centered public policies that promote affordability, accountability, and equity in higher education. For more information about TICAS, visit ticas.org.