Template-Type: ReDIF-Article 1.0
Author-Name: Máté Vona
Author-Workplace-Name: Magyar Nemzeti Bank
Author-Email: mate.vona@econ.unideb.hu
Title: International Trends in Student Lending
Abstract: Several volumes of study have recently been published on the subject of financing
education. These could even be used as textbooks for a course on the funding of higher
education, as they discuss current issues of this practice in meticulous detail. This paper
is intended to provide an overview in a similar spirit, but in a narrower, yet very current
area of the financing of education, namely student lending. This paper presents the most
important student lending-related national statistics of OECD countries in a systematic
form, and draws conclusions concerning the initiatives of the system of financing of higher
education through a comparative analysis of those. This study seeks to answer the question
of whether student lending in the future will play an increasing role in the financing of
higher education, regardless of economic background. It arrives at the conclusion that if we
strive to involve additional resources in higher education in large European countries with
populations exceeding 20 million people, such as Germany or France, to an extent equalling
approximately 1% of the GDP, the use of private funding is almost the only available
option. If this is accomplished by increasing tuition fees, which is what the international
models suggest, the market of student lending is projected to experience significant growth.
However, the results of this process will become significant in the space of several decades.
Classification-JEL: G15, I22
Keywords: Economics of education, financing of higher education, student lending, OECD
countries
Journal: Financial and Economic Review  
Pages: 56–78
Volume: 14
Issue: 1
Year: 2015
File-URL: http://english.hitelintezetiszemle.hu/letoltes/3-vona-en.pdf
File-Format: Application/pdf
Handle: RePEc:mnb:finrev:v:14:y:2015:i:1:p:56-78