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1.
This paper simulates student loan schemes for Brazil. A copula approach is applied to simulate dynamic earnings paths for graduates. Repayment patterns are then simulated for time-based and income-contingent loan designs. The results show that the Brazilian time-based scheme involved unsustainable repayment burdens for many graduates and contributed to the scheme's high default rates. We also show that the new income-contingent scheme is also likely to involve high taxpayer subsidies. We consider alternative designs with different strengths and weaknesses but favour an income-contingent scheme with a loan fee, repayment rates at 50% of current income tax rates and an interest rate at the government's cost of borrowing upon graduation and above initial tax threshold. We conclude by emphasising that full involvement of the federal revenue system is more desirable than the present approach of employer withholding. This would increase the earnings base and reduce costs, which is important for Brazil's current precarious fiscal situation. 相似文献
2.
To understand and design student loan systems, realistic earnings and/or income projections for current and future graduates are crucial. In this paper, Current Population Survey (CPS) data from the US is used to demonstrate empirical approaches that can be exploited to simulate lifetime income and earnings profiles for graduates which are needed to understand and design effective and sustainable student loan systems. The crucial element in getting this analysis correct is having reliable simulations of the whole distribution of future graduate earnings and income. Typically, in this literature, the repayment burdens (RBs) of student loans are calculated at different quantiles of the graduate income or earnings distribution. Often, unconditional quantile regression (UQR) is used to calculate age–earnings profiles for different quantiles of the income or earnings distribution. The paper shows that this approach has limitations when evaluating student loans and that simple raw quantile estimation by age with some age smoothing is preferable. This approach can also be used when income is censored and recorded in income bands as occurs with relevant data in some countries. The paper shows a simple way of incorporating dynamics utilizing these age–earnings profiles by quantile even when only very short panel data is available. This involves using copula functions. Having reliable dynamic estimates turns out to be important in assessing not only the taxpayer costs of designing an income-contingent loan (ICL) but also for correctly assessing the extent of loan repayment hardship for individuals. 相似文献
3.
Bruce Chapman Kiatanantha Lounkaew Piruna Polsiri Rangsit Sarachitti Thitima Sitthipongpanich 《Economics of Education Review》2010
Government student loan schemes typically have implicit interest rate subsidies which, while these are a cost to taxpayers, they have the benefit of diminishing repayment burdens for graduates. Our goal is to illustrate the extent of both interest rate subsidies and repayment burdens with respect to Thailand's Student Loans Fund (SLF), using methods pioneered in measurement terms by 18 and 19. 相似文献
4.
There is wide agreement that the US student loan system faces significant problems. Seven million borrowers are in default and many more are not repaying for reasons such as returning to school, or economic hardship. The stress of repayments faced by many students results at least in part from the design of US student loans. Specifically, loans are organised like a mortgage, with fixed monthly repayments over a fixed period of time, creating a high repayment burden on borrowers with low income. This paper draws on the experience of the income-contingent loan (ICL) systems operating in England and Australia, in which monthly or two-weekly repayments are related to the borrower's income in that period, thus building in automatic insurance against inability to repay during periods of low income. We discuss the design of this type of loan in detail since such an exercise seems to be largely absent in the US literature. Drawing on data from the US Current Population Survey (CPS) we provide two main empirical contributions: a stylised illustration of the revenue and distributional implications of different hypothetical ICL arrangements for the USA; and an illustration of repayment problems faced by low-earning borrowers in the US loan system, including a plausible example of adverse outcomes with respect to Stafford loans. Importantly, we compare repayment burdens under the existing and alternative systems. Our illustrations show how US mortgage-type loans can create financial difficulties for a significant minority of US borrowers, difficulties which an ICL is designed to address. We note also that the current small and ineffective income-based repayment system in the US has few of the characteristics of an ideal ICL. 相似文献
5.
Higher education (HE) is regarded as a pathway to upward social mobility for those from lower socio-economic backgrounds. Social mobility is itself seen as important both for individual and national prosperity and is a key driver of government funding for HE. While access to HE has substantially increased over the past number of years, the evidence suggests that social inequalities continue to be reproduced, with working-class students more frequently accessing lower status institutions and courses. This in turn can impact negatively on their labour market outcomes. This paper offers a critical appraisal on the employability discourse. Drawing on a survey of 268 distance graduates from an Irish university, together with 5 individual interviews, findings indicate that distance graduates are likely to be from lower socio-economic backgrounds and have delayed participation in university education for reasons relating to social class. Although mostly in employment, they are motivated to participate in HE by their concerns regarding their long-term employability. The literature identifies that our employability is something we negotiate with others. This paper posits that, for distance graduates, in addition to this process of convincing others, the graduate must also convince themselves of the value of their own achievement. Transitioning to graduate employment, and developing a graduate identity, can therefore be a slow internal and external process of negotiation. 相似文献
6.
This research addresses the question of whether student loan repayment and default behaviors are more highly related to the characteristics of the college attended or to the characteristics of the individual student aid recipient. Our model development and variable selection is guided by theories of human capital and public subsidy, ability to pay perspectives, organizational structural/functional approaches, and student-institution fit models. To conduct the study, three national databases were merged: the NPSAS study of individual recipients of federal financial aid, IPEDS data containing campus financial and enrollment characteristics, and a third containing College Board Survey data. Our findings erode the basis for current national policies and proposed SPRE legislation that hold institutions accountable for the loan defaults of former students. Loan repayment and default behavior can be substantially predicted by the precollege, college, and postcollege characteristics of individual borrowers. Majoring in a scientific or technological discipline, earning good grades, persisting to degree completion, getting and staying married, and not having dependent children are all actions that substantially increase the likelihood of repayment and lower the likelihood of default. In both populations (all borrowers and nonproprietary), we find virtually no evidence of a direct link between default behavior and type of institution or highest degree offered.An earlier version of this paper was presented at the annual Forum of the Association for Institutional Research, New Orleans, Louisiana. May 1994. 相似文献
7.
Using a data set on 12,000 UK graduates, weexplore graduates' satisfaction with the contributionthat higher education (HE) has made to their generaldevelopment. Using an ordered logit model, weinvestigate which graduates are the most likely to evaluatefavorably the contribution of their HE. We makeinferences about the relationship between the type of HEand its contribution to general development across a number of facets. Exploiting the historicalcomposition of the data, we also examine the extent towhich these contributory effects of HE to generaldevelopment erode or diminish as the graduates age. This approach permits some critical insightinto whether HE influences development over the courseof one's life. 相似文献
8.
Mature Graduates I: Occupational attainment and the effects of labour market duration 总被引：1，自引：1，他引：0
Muriel Egerton 《牛津教育评论》2013,39(1):135-150
This paper examines occupational attainment among mature graduates as compared with early graduates using data from the General Household Survey (GHS) (1982-1993). These surveys yielded a sample of 1025 mature men and 654 mature women graduates; 5365 men and 3465 women graduates at the conventional age. Mature graduates now compose about one quarter of the undergraduate population and it is believed that the level of mature participation will remain high. It was found that although mature graduates are disadvantaged on entry to the labour market, after about 15 years they have similar attainment to early graduates. Mature graduates primarily work in the public and welfare services, while conventional age graduates increasingly work in the private sector, with rising percentages of both women and men in the financial and business services sector. The concentration of mature graduates in the public sector has consequences for pay, which is discussed in the light of the current student funding system. 相似文献
9.
We apply a semi-parametric latent variable model to estimate selection and sorting effects on the evolution of private returns to schooling for college graduates during China's reform between 1988 and 2002. We find that there were substantial sorting gains under the traditional system, but such gains have dissipated to negligible levels in the most recent data. We take this as evidence of growing influence of private financial constraints on decisions to attend college as tuition costs have risen and the relative importance of government subsidies has declined. The main policy implication of our results is that labor and education reform without concomitant capital market reform and government support for the financially disadvantaged exacerbates increases in inequality inherent in elimination of the traditional “wage-grid”. 相似文献
10.
知识性失业在我国的成因分析 总被引：2，自引：0，他引：2
我国近年来出现的知识性失业是对人力资源的巨大浪费，其原因是多方面的，主要是经济体制转型、高校扩招导致毕业生人数增加、专业设置与市场需求脱轨、毕业生预期与用人单位需求错位等情况所造成。应从政府、用人单位和学校、家庭、个人等多个层面给予重视，通过改革和发展，形成治理知识性失业的强大合力，避免人才浪费。 相似文献
11.
AbstractInvestment of time in internship and in-school learning or study are two ways to accumulate human capital for college students. The authors take I&S input as two impacting faAQctors for graduates’ starting salaries to construct an I&S input allocation model minimizing “psychological cost.” The model inference indicates that the optimal allocation of I&S input relies on three aspects: returns to I&S of the future labor market, graduates’ cognitive attitudes toward the role of I&S, and the comparative advantages of I&S. The authors use the 2015 China College Graduates’ Employment Survey data conducted by the Institute of Education at Peking University to empirically verify the theoretical model. They found that under the current labor market conditions, the time input on I&S does not necessarily bring better returns, and there is a significant difference among student groups between the actual I&S time input and the “theoretically optimal values” predicted by the model. The authors conclude that the failure of allocating the I&S time input will hinder graduates’ successful transition from universities to the labor market. To avoid this time input imbalance, institutions should strengthen the guidance of I&S time input, improve the related management system, and pay more attention to I&S input quality and optimal allocation. 相似文献
12.
Claude Montmarquette Kathy Cannings Sophie Mahseredjian 《Economics of Education Review》2002,21(6):112
Previous studies on the determinants of the choice of college major have assumed a constant probability of success across majors or a constant earnings stream across majors. Our model disregards these two restrictive assumptions in computing an idiosyncratic expected earnings variable to explain the probability that a student will choose a specific major among four choices of concentrations. The construction of an expected earnings variable requires information on the student's perceived probability of success, the predicted earnings of graduates in all majors and the student's expected earnings if he (she) fails to complete a college program. Using data from the National Longitudinal Survey of Youth, we evaluate the chances of success in all majors for all the individuals in the sample. Second, the individuals' predicted earnings of graduates in all majors are obtained using Rumberger and Thomas's [Econ. Educ. Rev. 12 (1993) 1] regression estimates from a 1987 Survey of Recent College Graduates. Third, we obtain idiosyncratic estimates of earnings alternative of not attending college or by dropping out with a condition derived from our college major decision-making model applied to our sample of college students. Finally, with a mixed multinomial logit and probit models and an heteroscedastic extreme value model, we explain the individuals' choice of a major. The results of the paper show that the expected earnings variable is essential in the choice of a college major. There are, however, significant differences in the impact of expected earnings by gender and race. 相似文献
13.
Isopahkala-Bouret Ulpukka Aro Mikko Ojala Kristiina 《Tertiary Education and Management》2021,27(2):143-159
Positional competition in the labour market entails graduate opportunities that depend not only on graduates’ skills, experience and abilities, but also on how their educational credentials compare to those of others. In this study, we examined the positional competition in the Finnish labour market and compared the influence of different ‘degree types’ on the probability of obtaining high-paid, high-status jobs. We used a register-based 5% sample of 25–45-year-old Finnish higher education (HE) graduates from 2010 to 2012 (N?=?63 486). It was expected that the relative position of graduates would be affected by the degree level as well as the educational field and the binary division (university vs. non-university) of HE. Therefore, master’s and bachelor’s degree levels in all educational fields from universities versus universities of applied sciences (UASs) were included. The method of analysis was logistic regression. According to our results, the binary divide structured the opportunities to enter high-paid, high-status jobs within different fields of education. The university master’s degree graduates had the highest probability of succeeding in the Finnish labour market, and their status/rank elevated them above the competition by regulating access to certain professions or occupations through specific qualification requirements (i.e., credential social closure). Moreover, our results demonstrated how the degree rankings and the relative distance between university and UAS degrees vary in different fields. The Finnish case offers a valuable point of comparison to other HE systems with a binary structure.
相似文献14.
Matti Lindberg 《European Journal of Education》2014,49(2):259-271
This study illustrates the differences between Finnish and British graduates in the higher education-to-work transition and related market mechanisms in the year 2000. Specifically, the differences between the Finnish and British students' academic careers and ability to find employment after graduation were evaluated in relation to the Finnish HE policy that hastens the entry of new graduates into the labour market. The Finnish HE system is representative of a system that operates in an occupation-specific and relatively strictly-regulated labour market context, whereas the labour market context for the British HE system is essentially the most liberal in Europe. The results of the study suggest that it is not the length of the first degree programmes per se that determines the throughput of the HE sector, but the relative emphasis placed on the opportunity structures pertaining to HE participation and on career mobility in the labour market. 相似文献
15.
Nancy L. Marshall Wendy Wagner RobesonAllison J. Tracy Alice FryeJoanne Roberts 《Early childhood research quarterly》2013
To examine whether state child care subsidy policies can combine goals of increasing maternal employment and increasing access to quality child care for children in low-income families, we studied one state's comprehensive policy, through a cross-sectional survey of 665 randomly selected families using centers, Head Starts, family child care homes, public school preschools or informal care, including a sample of families on the waitlist for child care subsidies. We found that, in Massachusetts, families receiving child care subsidies report greater access to child care, more affordable child care, and higher quality child care, than do similar families not receiving subsidies. Lower-income families not receiving subsidies can sometimes access affordable, quality child care through Head Start programs and public preschools, but, when they have to pay for care, they pay a significantly greater proportion of their income than do families receiving subsidies. We also found that families on the subsidy waitlist are at a particular disadvantage. Waitlist families have the greatest difficulty paying for care, the least access, and the poorest quality child care. While the child care subsidy policies benefited those families receiving subsidies, families outside the system still struggled to find and afford child care. 相似文献
16.
In recent years, the employment of college graduates has become a focus of higher education policy and research in China. This article analyzes data from the National College Graduate Survey conducted by Peking University between 2003 and 2009, and examines the trends and factors influencing the path chosen by college graduates. Results show that (1) due to intensified competition in the job market and the impact of the 2009 financial crisis, graduates make diverse choices, with an increasing proportion entering graduate school and nontraditional employment; (2) over one quarter of graduates are unemployed, with increased likelihood of unemployment attributed to gender, low socioeconomic status, rural origin, and insufficient educational and capital accumulation; and (3) employment choices are influenced by multiple factors, including individual differences, intitution attended, the job market, and the macro socioeconomic environment. 相似文献
17.
Recent policy developments in English Higher Education have resulted in employability placed in the spotlight, whereby the success of universities will be measured based on graduate employment. This represents the latest focus placed on employability in the sector, as universities are increasingly expected to provide employment-ready graduates to meet the demands of a global economy. In response universities have invested considerable energy into initiatives and services to enhance the employability outcomes of graduates. However, institutions have largely been UK-centric on their focus, with limited attention paid to the employability needs of international students. In this paper, we report the outcomes of a study centred on the largest group of non-EU domiciled international students in the UK, those from Mainland China. Drawing on survey data we examine Mainland Chinese students’ attitudes to their employability and the support they engage with through their UK University. We pay specific attention to the opportunities presented through the ‘international’ nature of the HE experience, and consider how these are utilised by both the students, and their institutions, to develop their future employability. We conclude by proposing recommendations for universities and institutions to enhance the support offered to this often overlooked, but significant group of students. 相似文献
18.
This paper examines patterns of movement to study by undergraduates and patterns of mobility into work by graduates. Using national data and a large-scale dataset, student movement across regions to Higher Education Institutions is described and modelled. The evidence points to a sizeable group of graduates who never move region and a significant proportion of graduates who move to study but then move back to their home region for work. Investigation is made of whether or not movement and mobility depend on the subject studied, the type of HE undertaken, the characteristics of the individual and the characteristics of the origin and destination regions. A hypothesis is proposed that the motive for movement is to secure greater rewards from Higher Education. However, those who move region to study report significantly lower satisfaction scores with their course of study. The implications of these findings for regional agencies, for institutions and for students are considered. 相似文献
19.
Tim Gill Carmen Vidal Rodeiro Nadir Zanini 《Journal of Further & Higher Education》2018,42(7):998-1014
Recently, there has been an increase in the Higher Education (HE) options (in terms of both courses and institutions) available to students in the UK. Given that the choice of institution and field of study are crucial for students’ future careers, we investigated how attributes of the institutions and courses determine students’ choices, and how they interact with student characteristics. Data on graduates with a STEM background, who started a course in 2010/11 in an English HE institution, was analysed using a conditional logit model. The research demonstrated that an institution’s prestige, degree subject area and distance from home play an important role in students’ choices. Furthermore, distance from home to the HE institution is a potential barrier to fair access, as socio-economically deprived students may have less choice if they are not able to travel as far. 相似文献
20.
孙仲明 《锦州师范学院学报(哲学社会科学版)》2006,28(1):77-80
个人住房抵押贷款业务的迅速发展，引起了各家银行的重视。但是该业务在我国开展时间短。规模还比较小，同时银行面临的借款人信用风险仍比较大。通过运用博弈论的有关方法，对个人及银行的行为进行分析，提出了完善我国个人信用制度的主张。 相似文献