IMPACT OF SOCIOECONOMIC FACTORS ON EDUCATION

Abstract

Education is recognized globally as a critical determinant of the socioeconomic status and overall well-being of individuals and societies (Smith, 2017). This paper examines the intricate and multifaceted relationship between socioeconomic factors and educational outcomes, and highlights how variables such as parental education, income levels, and community resources influence student performance and overall educational outcomes. The findings reveal that income disparities, wealth, parental education levels and neighbourhood characteristics significantly impact students’ opportunities for educational advancement. Through an extensive review and analyses of existing literature, the paper discusses the complex interplay between socioeconomic status and educational achievement The paper further reveals that students from low-income families often experience several barriers, including inadequate financial resources, and limited access to quality schools, resulting in lower academic performances and higher dropout rates. The paper explores the implications of these disparities on income inequalities, future employment prospects and social mobility, and proposes recommendations for policymakers and educators to work collaboratively towards addressing existing disparities and ensuring that education truly serves as a powerful equalizer in society.