Getting student financing right in the US: lessons from Australia and England

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The US student loan system is currently in crisis. US graduates owe $1.3 trillion in student loans; seven million borrowers are in default and even more are in arrears. The impact on borrowers is catastrophic. [The authors] argue that this is mainly due to the fact that the US operates mortgage-type student loans: these are repaid over a set period of time, which places high repayment burdens on low earning graduates. [The authors] draw on the experience of the income-contingent loan (ICL) systems operating in England and Australia, and use US Current Population Survey (CPS) data to show...  [+] Show more

Subjects: Higher education; Finance; Disadvantaged; Students; Employment; Governance; Research

Keywords: Comparative analysis; Financial aid; Low income group; Employment status; Graduates

Geographic subjects: United States; North America; England; Great Britain; Europe; Australia; Oceania

Published: London, England: Centre for Global Higher Education, UCL Institute of Education, 2017

Physical description: 32 p.

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ISSN: 2398-564X

Resource type: Working paper

Call number: TD/TNC 128.130

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