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Voting On Income-Contingent Loans For Higher Education

Del Rey, Elena; Racionero, Maria

Description

We consider risk-averse individuals who differ in two characteristics - ability to benefit from education and inherited wealth - and analyse higher education participation under two alternative financing schemes - tax subsidy and (risk-sharing) income-contingent loans. With decreasing absolute risk aversion, wealthier individuals are more likely to undertake higher education despite the fact that, according to the stylised financing schemes we consider, individuals do not pay any upfront...[Show more]

CollectionsANU Research Publications
Date published: 2012
Type: Journal article
URI: http://hdl.handle.net/1885/37574
Source: The Economic Record
DOI: 10.1111/j.1475-4932.2012.00801.x

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