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Funding post-compulsory education

Barr, Nicholas ORCID: 0000-0002-5325-2055 (2017) Funding post-compulsory education. In: Johnes, Geraint, Johnes, Jill, Agasisti, Tommaso and López-Torres, Laura, (eds.) Handbook on the Economics of Education. Elgar. ISBN 9781785369063

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This chapter starts from economic theory and works outwards to policy design. It establishes three core objectives: quality (high), access (wide) and size (large enough), and argues that a general strategy for achieving them has three elements: universities financed from a mix of tuition fees and taxpayer support; a well-designed loan system with income-contingent repayments to address credit constraints; and policies earlier in the education system, by addressing prior constraints, as the primary vehicle to widen participation. Section 1 sets out the objectives and section 2 a series of principles. Section 3 outlines some common analytical errors, including mispricing risk and using the wrong policy instrument. Section 4 discusses the implications for policy design, including economic theory and a brief summary of international experience. Section 5 considers future theoretical and policy developments, including loan design that support international mobility.

Item Type: Book Section
Official URL:
Additional Information: © 2017 Edward Elgar
Divisions: Economics
European Institute
Subjects: H Social Sciences > HB Economic Theory
L Education > L Education (General)
Date Deposited: 16 Mar 2017 11:19
Last Modified: 08 Jun 2024 18:36

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