Higher education rates are increasing throughout the Western world, yet at the same time, government budgets face increasing constraints. This has ensured that the importance of student support is recognized in many countries. In recent years there has been a world-wide movement towards the use of income contingent loans (ICL) for higher education. ICLs are now used in six countries following the Australian innovation of 1989, with the governments of many more countries looking very seriously at the model.
This impressive new book by Bruce Chapman analyzes ICLs (particularly their use in supporting students), exploring the experiences of a number of other countries adopting them. Chapman presents analysis of a number of disparate case studies to illustrate how ICLs can aid risk management policy reforming in both progressive and administratively feasible ways.
This book describes, examines and promotes an exciting new role for the public sector as a manager of risk, and argues that ICLs have enormous potential to change the extent and nature of social and economic activities. With the author's experience in the design and implementation of the Australian student financial support schemes, this is a knowledgeable, informative and enlightening book that will be useful to researchers, students and policy-makers alike.
Table of Contents
List of Figures. List of Tables. Acronyms. Preface. Introduction. Part I: Income Contingent Loans for Higher Education 1. Summary of Part I 2. Paying for Higher Education 3. The Case for Income Contingent Loans for Higher Education Financing 4. A Detailed Case Study of a Risk-Sharing Income Contingent Loan: Australia, 1989 to 2004 5. Income Contingent Loans for Higher Education: The International Experience Part II: Income Contingent Loans for Public Policy: Five Case Studies 6. Summary of Part II 7. Turning Grants into Loans: Income Contingent Loans for Drought Relief 8. Criminal Reparations: Using the Tax System to Collect Fines 9. Criminal Reparations: Using Financial Incentives and Income Contingent Fines for White Collar Crimes 10. Social and Community Investments: Profit Contingent Loans for Economically Disadvantaged Regions 11. Income Contingent Loans for Low Income Households
Part III: Income Contingent Loans for Public Policy: Reform Issues and Additional Potential Areas 12. Summary of Part III 13. Similarities and Differences Between the Income Contingent Loan. Case Studies. 14. Epilogue. References. Appendices.
'Chapman's book is the definitive study of the concept and practice of ICLs and an indispensable source of these further development.' - The Economic Record