The importance of family background in determining a student's academic achievement has long been acknowledged by researchers. Nonetheless, the effect of schooling on this relationship has also been widely investigated. Some studies have shown that family background plays a far stronger role while the effect of schooling is minimal; others have…

Scholars generally agree that financial deprivation negatively affects students' educational outcomes. However, while absolute levels of resources are important, individuals' perceived relative economic wellbeing also shape their educational outcomes. This article asks whether attending school with peers from comparably richer families is related…