Financing higher education in an imperfect world

Ngo Long

Economics of Education Review, 2019, vol. 71, issue C, 23-31

Abstract: This paper explains why under laissez-faire the financing of higher education is both inefficient and inequitable. It is argued that a government-run scheme of income contingent loans (ICLs) for higher education would achieve superior outcomes. We advocate a refinement of existing ICLs schemes. Following Apps, Long and Rees (2014), the paper proposes a piecewise-linear repayment schedule that serves both equity and efficiency objectives.

Keywords: Higher education financing; Income-contingent loans; Efficiency; Equity (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecoedu:v:71:y:2019:i:c:p:23-31

DOI: 10.1016/j.econedurev.2018.06.004

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