I was recently reminded of a 2009 nationwide study in which public school and homeschool students' standardized test results were compared. It can not be stressed enough that household income, parent's level of education and money invested in teaching supplies have no bearing on the success of homeschool.
The key factors to successfully educating at home are an understanding of who your child is, what their educational goals should be, and a strong desire to help them reach them. It also helps if you like being around your child. If you don't have those basics, no parental college education, money spent on a fancy curriculum or co-op group will make home education a success.
Here are some other statistics from the study:
Household income had little impact on the results of homeschooled students.
$34,999 or less—85th percentile
$35,000–$49,999—86th percentile
$50,000–$69,999—86th percentile
$70,000 or more—89th percentile
The education level of the parents made a noticeable difference, but the homeschooled children of non-college educated parents still scored in the 83rd percentile, which is well above the national average.
Neither parent has a college degree—83rd percentile
One parent has a college degree—86th percentile
Both parents have a college degree—90th percentile
Whether either parent was a certified teacher did not matter.
Certified (i.e., either parent ever certified)—87th percentile
Not certified (i.e., neither parent ever certified)—88th percentile
Parental spending on home education made little difference.
Spent $600 or more on the student—89th percentile
Spent under $600 on the student—86th percentile
The extent of government regulation on homeschoolers did not affect the results.
Low state regulation—87th percentile
Medium state regulation—88th percentile
High state regulation—87th percentile
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