Human Capital Policy
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Human Capital Policy

Reducing Inequality, Boosting Mobility and Productivity

Edited by David Neumark, Yong-seong Kim and Sang-Hyop Lee

This timely book evaluates international human capital policies, offering a comparative perspective on global efforts to generate new ideas and novel ways of thinking about human capital. Examining educational reforms, quality of education and links between education and socio-economic environments, chapters contrast Western experiences and perspectives with those of industrializing economies in Asia, focusing particularly on Korea and the USA.
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Chapter 4: An economist’s perspective on student loans in the United States

Susan M. Dynarski

Abstract

This chapter provides an economic perspective on policy issues related to student debt in the United States. It lays out the economic rationale for government provision of student loans and summarizes time trends in student borrowing. It describes the structure of the US loan market, which is a joint venture of the public and private sectors and then turns to three topics that are central to the policy discussion of student loans: whether there is a student debt crisis, the costs and benefits of interest subsidies, and the suitability of an income-based repayment system for student loans in the US. It discusses the gaps in the data required to fully analyze and steer student-loan policy.

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