We study the impact of higher education financing on the academic aspirations of teenagers and of their parents. We exploit a reform which introduced a large increase in the maximum university tuition fees and a more redistributive student loan system, both of which varied across the UK's...

Este trabajo analiza los principales cambios que se han introducido recientemente en la financiación del Sistema Universitario Español. El objetivo es, por una parte, revisar las consecuencias derivadas de estas medidas en términos de suficiencia y equidad y, por otra, estudiar la viabilidad...

Higher education is in the position to save Europe by rendering a substantial contribution to sustainable economic growth. For that purpose higher education must strengthen its innovative power in entrepreneurship education and by focusing research more on societal problems, while being better...

Philippine higher education (HE) plays an important role in the country’s economy and is vital in achieving global competitiveness.Poor quality,undeveloped innovation system, and inequality of access caused the current dismal state of the HE system.This could be traceable to the populist...

We examine how the racial wealth gap interacts with financial aid in American higher education to generate a disparate impact on college access and outcomes. Retirement savings and home equity are excluded from the formula used to estimate the amount a family can afford to pay. All else equal,...

The paper studies the impact of financial aid on long-term educational attainment and labor market outcomes in Colombia. In 2014, the government launched a large-scale and generous student loan program called "Ser Pilo Paga." It offered full tuition coverage to students admitted to one of 33...

This paper examines how private college and university endowments affect financial aid, admissions selectivity, and the economic and racial composition of incoming students. Because endowment levels are a function of expenditures and alumni giving, which are endogenous to the outcomes of...

We completely characterize the set of second-best optimal "menus" of student-loan contracts in a simple economy with risky labour-market outcomes, adverse selection, moral hazard and risk aversion. The model combines structured student loans and an elementary optimal income-tax problem à la...

We examine the dramatic expansion in the Turkish higher education system during 2006-2008, which resulted in the establishment of 41 new public universities and a 60% increase in the number of available slots. Using the variation in the exposure intensity of expansion across cohorts and regions,...