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The welfare effects of income-contingent financing for higher education

Quiggin, John


In this paper, it is shown that educational financing schemes with income-contingent re-payments provide a mixture of consumption-smoothing benefits and insurance against the uncertain outcomes of risky educational investments. Educational financing schemes with income-contingent repayment will enhance welfare relative to the alternative of upfront fees yielding the same revenue in present value terms.

CollectionsANU Research Publications
Date published: 2003
Type: Working/Technical Paper


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