Here, from a book chapter subtitled "The case for eliminating the SAT and ACT at the University of California":
Table 1.1. Correlation of socioeconomic factors with SAT/ACT scores and High School GPA
+--------------------+---------------+------------------------------------------------+
| | Family Income | Parents' Education | Underrepresented Minority |
+--------------------+---------------+------------------------------------------------+
| SAT/ACT scores | 0.36 | 0.45 | -0.38 |
+--------------------+---------------+------------------------------------------------+
Of the three factors they bothered to look at, family income had the lowest correlation, just below a poor approximation of race and very far below parental education.( https://cshe.berkeley.edu/sites/default/files/geiser_chapter... )