| Abstract: |
<p><p>This paper undertakes a quantitative analysis of substantial reforms to
the system of higher education (HE) finance in England, first announced in
2004 and revised in 2007. The reforms introduced deferred fees for HE, payable
by graduates through the tax system via income-contingent repayments on loans
subsidised by the government. The paper uses lifetime earnings simulated by
the authors to consider the likely distributional consequences of the reforms
for graduates. It also considers the costs of the reforms for taxpayers, and
how the reforms are likely to shift the balance of funding for HE between the
public and private sectors.</p></p> |