This definitely matches my experience. My great grandparents were solidly upper class (they owned a large paper company). Since then, there has of course been

This definitely matches my experience. My great grandparents were solidly upper class (they owned a large paper company). Since then, there has of course been wide variation in outcomes, from my mother making $10k/year to my aunt who owns a highly successful architecture firm. Yet absolutely everyone in my extended family went to college. Values and norms persist longer than money.