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Factors That Affect Social Class

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In society, there is a term called Social Mobility which is defined as the ability to change positions within a social stratification system. Social mobility can be seen when an individual or group of people change their economic status in a way that changes their social class. This change in social class can be either a positive change or be a negative change. There are many factors that affect what works for, and against, social mobility, such as class, race, gender, and age. An individual’s class can have both a positive and negative affect on their social mobility. One of the ways this occurs is when attempting to attain loans from a bank. Banks are more likely to loan higher amounts of money to an individual in a high class than a person belonging to a middle or lower class. This allows the higher class to be able to invest, purchase a larger home, move to a preferred neighborhood, or purchase a new vehicle, thus improving their social status and in turn their social mobility. Unfortunately banks immediately perceive members of the lower class as less trustworthy with their money than people from a higher class. This hinders the ability of members of the lower class to raise their social status because they are only offered a minimal amount of money with a higher interest rate. Also if members of the lower class cannot afford to pay back a loan, they actually lower their economic status. This discrimination to the members of the lower class does not allow them to

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