A college degree is worth less to poor kids

[FBaggins]

3. I don't see enough analysis to draw that conclusion

They already say that they haven't looked at which colleges (and presumably which degrees) each group is associated with. More importantly, I don't see a definition of "income" here. PSID studies often look at household income (which could mean that marital decisions of the two groups makes a big difference). Which income is evaluated? Do relative debt levels play a factor? What about capital gains and dividend income? If you graduate with lots of debt, then you're paying it back while the upper-middle-class kid is investing her money.

What about geographic region? A bank teller in a major city might make 30-40% more than one in a rural area, but the second teller may have the better standard of living because of the local cost of living. Did they evaluate that?