| Description |
xxiv, 224 pages : illustrations ; 23 cm |
| Contents |
Pt. I. The problem of financing education -- 1. The value of education -- 2. Market failure in the financing of education -- 3. The need for alternatives to traditional funding -- Pt. II. Equity-like investments to finance education -- 4. The evolution of human capital contracts -- 5. How human capital contracts work -- 6. The case for human capital contracts -- 7. Human capital options -- Pt. III. Implementing human capital contracts -- 8. Hurdles in the implementation of human capital contracts -- 9. Lessons from the implementation of income-contingent loans -- 10. Government-driven implementation of human capital contracts -- 11. Conclusion -- App. A. Valuation of human capital contracts -- App. B. Using human capital options to value income-contingent loans -- App. C. Features of human capital contracts, income-contingent loans, and traditional mortgage-type loans -- App. D. A developing country study |
| Summary |
"Most higher-education finance literature assumes that students cannot pledge their future earnings to finance their education in a free society. Investing in Human Capital challenges that assumption and explores human capital contracts as an alternative mechanism for financing higher education. Investing in Human Capital tracks the roots of the idea behind human capital contracts, discusses the beneficial consequences they would have on students and on higher-education markets, and describes how they can develop in light of the innovations that have taken place in financial markets during the last decades. The book also explores the challenges - ethical and financial - that such instruments face and offers implementation alternatives that can bring about their existence in the context of a national higher-education financing program."--BOOK JACKET |
| Bibliography |
Includes bibliographical references (pages 213-217) and index |
| Subject |
Student loans.
|
|
Education, Higher -- Finance.
|
|
Human capital.
|
| LC no. |
2003053195 |
| ISBN |
0521828406 |
|
