People in poverty are struggling to finish college

More students than ever from both rich and poor socioeconomic backgrounds are attending college out of high school, reports the New York Times. However, a new study in the journal Demography reveals that the gap between rich and poor graduates continues to grow wider with only 11.8% of children born in the 1980's from poor backgrounds actually graduating.

Why it matters: Hourly wages for those with Bachelor's degrees has risen over $30 since 2015, according to the study, while those who haven't completed college have an hourly wage below $20 on average.

By the numbers:

• Wages for people who haven't finished college have decreased by 2% since 2000, per the economic policy institute.
• Wages for college graduates have increased by 6% in that same timespan.
• The wealthiest people in the country born in the 1980's have a graduation rate of 60.1%

Go deeper: Many states have cut university funding, causing schools to enroll less poor and middle class students.