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Investing in Human Capital
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  • 22 b/w illus. 24 tables
  • Page extent: 250 pages
  • Size: 228 x 152 mm
  • Weight: 0.51 kg

Library of Congress

  • Dewey number: 378.3/62
  • Dewey version: 21
  • LC Classification: LB2340 .L54 2004
  • LC Subject headings:
    • Student loans
    • Education, Higher--Finance
    • Human capital

Library of Congress Record

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 (ISBN-13: 9780521828406 | ISBN-10: 0521828406)

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$98.00 (C)

This study recommends employing "human capital contracts" wherein students agree to pay a percentage of their income over time in exchange for funds to finance their education. The main difference between "human capital contracts" and loans is the variable value of the payments students make during the repayment period. Their financial consequences, of risk transfer from students to investors and increased information regarding future graduates' earnings, make the contracts an attractive alternative in funding higher education.


List of figures; List of tables; Foreword; Acknowledgements; Introduction; Part 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; Part 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; Part 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; Appendices; Notes; References; Index.

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