CHAPTER ONE INTRODUCTION
The value of education cannot be overemphasized in the life of every individual. This is because it is a process by which the mind develops through learning. Etymologically, the term education is derived from the Latin word “educare” meaning “to lead out”; that is, leading out of darkness into light. Ukeje (1973) opined that the process of education occurs whenever any influence produces a change in the physical and mental behaviour of an individual.
These definitions emphasize the dynamic nature of education in its role to bring refinement in the totality of ones behaviour. Hence, it is vital in the developmental process of every individual in the society.
Education is the best legacy a nation can give to her citizens especially the youths. This is because the development of any nation or community depends largely on the quality of education of such a nation. The basis for any true development must commence with the development of human resources. Hence, formal education remains the vehicle for socio- economic development and social mobilization in any society.
It is generally assumed that the quality of family’s socio-economic development has an important association with children's academic motivation and achievement, and with young adults' eventual educational and occupational attainments. Kellaghan (1993) claims, for example, that the family environment is the most powerful influence in determining students' school achievement, academic motivation, and the number of years of schooling they will receive. Hence, there is no gainsaying the fact that the family’s socio-economic status is one of the main determinants of the academic performance of a student.
In Wikipedia encyclopedia, sociologists defined socio-economic status, (sometimes shortened to SES), as a sociological classification indicating the close relationship between someone’s relative wealth and that person’s social status. Wikipedia encyclopedia also defined social status as the honor or prestige attached to one's position in society (one's social position). The stratification system, which is the system of distributing rewards to the members of society, determines social status. Wikipedia encyclopedia further noted that social status, (that is, the position or rank of a person or group within the stratification system), can be determined in two ways. One can earn their social status by their own achievements (e.g. through education, occupation etc), this is known as achieved status; one can be placed in the stratification system by their inherited position, this is called ascribed status. In modern societies, occupation is usually thought of as the main determinant of status, but other memberships or affiliations (such as ethnic group, religion, gender, voluntary associations, hobby) can have an influence.
The National Center for Educational Statistics (2008) defined socio- economic status as an economic and sociological combined total measure of a person's work experience and of an individual's or family’s economic and social position relative to others, based on income, education, and occupation. When analyzing a family’s SES, the household income earners', education and occupation are examined. Demarest, Reisner, Anderson, Humphrey, Farquhar, and Stein (1993) similarly noted that a family's socio- economic status is based on family income, parental education level, parental occupation, and social status in the community (such as contacts within the community, group associations, and the community's perception of the family).
According to Wikipedia encyclopedia, socio-economic status is typically broken into three categories, namely; high socio-economic status, middle socio-economic status, and low socio-economic status to describe the three areas a family or an individual may fall into. Demarest, Reisner, Anderson, Humphrey, Farquhar, and Stein (1993) opined that families with high socio-economic status often have more success in preparing their young children for school because they typically have access to a wide range of resources to promote and support young children's development. They are able to provide their young children with high-quality child care, books, and toys to encourage children in various learning activities at home. In addition, families with high socio-economic status often seek out information to help them better prepare their young children for school. On the other hand, families with low socio-economic status often lack the financial, social, and educational supports that characterize families with high socioeconomic status. Poor families also may have inadequate or limited access to community resources that promote and support children's development and school readiness. Families with middle socio-economic status may be privileged to have some financial backing that will enable them provide better education for their children, though it may not be quite sufficient.