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Direct linkMigali, Giuseppe – Economics of Education Review, 2012
We propose a simple theoretical model which shows how the combined effect of wage uncertainty and risk aversion can modify the individual willingness to pay for a HE system financed by an ICL or a ML. We calibrate our model using real data from the 1970 British Cohort Survey together with the features of the English HE financing system. We allow…
Descriptors: Foreign Countries, Wages, Student Financial Aid, Income Contingent Loans
