We tend to think of cost as the main barrier to college. But were that the case, scholarships and financial aid would bring in more low-income students. However, according to research released last week by the Century Foundation, 74 percent of students at the most selective colleges in the country come from the top quartile of family incomes, while only 3 percent come from the poorest. Moreover, while about 60 percent of low-income students enter a post-secondary program at some point, only about 11 percent earn a degree.
Researchers from the Century Foundation use these facts to argue for an affirmative-action program to get more students from lower-income families to go to selective schools. Their reasoning is clear: Graduates of top-tier colleges have better access to career networks and earn more throughout life. And schools like Harvard and Yale also have extremely high graduation rates: Students who go there are likely to finish...