Options for Financing Lifelong Learning
How should lifelong learning be financed? The author attempts to answer the question by creating a framework for analyzing different education financing mechanisms in light of particular characteristics of lifelong learning. The framework compares...
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| Format: | Policy Research Working Paper |
| Language: | English en_US |
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World Bank, Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2003/03/2176367/options-financing-lifelong-learning http://hdl.handle.net/10986/18324 |
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okr-10986-183242021-04-23T14:03:42Z Options for Financing Lifelong Learning Palacios, Miguel ADULT LEARNING AGE GROUPS BASIC KNOWLEDGE CALL CONTINUING EDUCATION COSTS OF EDUCATION DEMOCRATIZATION DEVELOPING COUNTRIES DISADVANTAGED GROUPS ECONOMIC GROWTH EDUCATION SERVICES EDUCATIONAL INSTITUTIONS EDUCATIONAL OPPORTUNITIES EQUAL ACCESS EQUITABLE ACCESS FIELDS OF STUDY FORMAL EDUCATION HUMAN DEVELOPMENT INITIAL LEARNING INVESTMENT IN EDUCATION KNOWLEDGE ECONOMY LABOR MARKET LEARNING OPPORTUNITIES LET LEVEL OF EDUCATION LEVELS OF EDUCATION LIFELONG LEARNING LITERATURE LOGIC PAPERS PRIVATE EDUCATION PUBLIC FUNDING SCHOOLS SPEAKING STUDENT LOANS UNIVERSAL PARTICIPATION UNIVERSITIES VOCATIONAL TRAINING VOUCHERS EDUCATIONAL FINANCING LIFELONG LEARNING FINANCING OPTIONS COST OF EDUCATION PAYMENTS ARRANGEMENTS COST-RECOVERY SUBSIDIZATION HUMAN CAPITAL INVESTMENTS INCOME SOURCES INCOME TAX LAW & LEGISLATION GRADUATE EDUCATION CONTINGENT LOAN FACILITY VOUCHER SYSTEMS PRIVATE CAPITAL FLOWS VOUCHERS EDUCATIONAL FINANCING How should lifelong learning be financed? The author attempts to answer the question by creating a framework for analyzing different education financing mechanisms in light of particular characteristics of lifelong learning. The framework compares the different financing alternatives on four dimensions: (1) who ultimately pays for the education, (2) who finances its immediate costs, (3) how payments are made, and (4) who collects the payments. The author uses specific characteristics of lifelong learning to determine which among the financing alternatives are most useful. The characteristics are that the individual should decide what and where to study, carry a significant part of the financial burden, and be encouraged to continue learning through all life stages. The author analyzes the financing alternatives according to who ultimately pays for the education. Hence, the alternatives are classified either as cost-recovery or cost-subsidization alternatives. Cost-recovery alternatives include traditional loans, a graduate tax, human capital contracts, and income-contingent loans. Subsidization alternatives are those in which the state directly subsidizes institutions or in which the state gives vouchers to students. The author concludes that combining income-contingent loans and human capital contracts with vouchers is the most efficient and equitable method for financing lifelong learning. The author discusses the role of governments and multilateral organizations in improving the financing of lifelong learning. He assesses shifting toward cost-recovery alternatives, focusing on collection of payments, and aiming for the involvement of private capital as key issues that should be addressed to ensure that lifelong learning will be available for all equitably and efficiently. 2014-05-14T21:00:02Z 2014-05-14T21:00:02Z 2003-03 http://documents.worldbank.org/curated/en/2003/03/2176367/options-financing-lifelong-learning http://hdl.handle.net/10986/18324 English en_US Policy Research Working Paper;No. 2994 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ADULT LEARNING AGE GROUPS BASIC KNOWLEDGE CALL CONTINUING EDUCATION COSTS OF EDUCATION DEMOCRATIZATION DEVELOPING COUNTRIES DISADVANTAGED GROUPS ECONOMIC GROWTH EDUCATION SERVICES EDUCATIONAL INSTITUTIONS EDUCATIONAL OPPORTUNITIES EQUAL ACCESS EQUITABLE ACCESS FIELDS OF STUDY FORMAL EDUCATION HUMAN DEVELOPMENT INITIAL LEARNING INVESTMENT IN EDUCATION KNOWLEDGE ECONOMY LABOR MARKET LEARNING OPPORTUNITIES LET LEVEL OF EDUCATION LEVELS OF EDUCATION LIFELONG LEARNING LITERATURE LOGIC PAPERS PRIVATE EDUCATION PUBLIC FUNDING SCHOOLS SPEAKING STUDENT LOANS UNIVERSAL PARTICIPATION UNIVERSITIES VOCATIONAL TRAINING VOUCHERS EDUCATIONAL FINANCING LIFELONG LEARNING FINANCING OPTIONS COST OF EDUCATION PAYMENTS ARRANGEMENTS COST-RECOVERY SUBSIDIZATION HUMAN CAPITAL INVESTMENTS INCOME SOURCES INCOME TAX LAW & LEGISLATION GRADUATE EDUCATION CONTINGENT LOAN FACILITY VOUCHER SYSTEMS PRIVATE CAPITAL FLOWS VOUCHERS EDUCATIONAL FINANCING |
| spellingShingle |
ADULT LEARNING AGE GROUPS BASIC KNOWLEDGE CALL CONTINUING EDUCATION COSTS OF EDUCATION DEMOCRATIZATION DEVELOPING COUNTRIES DISADVANTAGED GROUPS ECONOMIC GROWTH EDUCATION SERVICES EDUCATIONAL INSTITUTIONS EDUCATIONAL OPPORTUNITIES EQUAL ACCESS EQUITABLE ACCESS FIELDS OF STUDY FORMAL EDUCATION HUMAN DEVELOPMENT INITIAL LEARNING INVESTMENT IN EDUCATION KNOWLEDGE ECONOMY LABOR MARKET LEARNING OPPORTUNITIES LET LEVEL OF EDUCATION LEVELS OF EDUCATION LIFELONG LEARNING LITERATURE LOGIC PAPERS PRIVATE EDUCATION PUBLIC FUNDING SCHOOLS SPEAKING STUDENT LOANS UNIVERSAL PARTICIPATION UNIVERSITIES VOCATIONAL TRAINING VOUCHERS EDUCATIONAL FINANCING LIFELONG LEARNING FINANCING OPTIONS COST OF EDUCATION PAYMENTS ARRANGEMENTS COST-RECOVERY SUBSIDIZATION HUMAN CAPITAL INVESTMENTS INCOME SOURCES INCOME TAX LAW & LEGISLATION GRADUATE EDUCATION CONTINGENT LOAN FACILITY VOUCHER SYSTEMS PRIVATE CAPITAL FLOWS VOUCHERS EDUCATIONAL FINANCING Palacios, Miguel Options for Financing Lifelong Learning |
| relation |
Policy Research Working Paper;No. 2994 |
| description |
How should lifelong learning be
financed? The author attempts to answer the question by
creating a framework for analyzing different education
financing mechanisms in light of particular characteristics
of lifelong learning. The framework compares the different
financing alternatives on four dimensions: (1) who
ultimately pays for the education, (2) who finances its
immediate costs, (3) how payments are made, and (4) who
collects the payments. The author uses specific
characteristics of lifelong learning to determine which
among the financing alternatives are most useful. The
characteristics are that the individual should decide what
and where to study, carry a significant part of the
financial burden, and be encouraged to continue learning
through all life stages. The author analyzes the financing
alternatives according to who ultimately pays for the
education. Hence, the alternatives are classified either as
cost-recovery or cost-subsidization alternatives.
Cost-recovery alternatives include traditional loans, a
graduate tax, human capital contracts, and income-contingent
loans. Subsidization alternatives are those in which the
state directly subsidizes institutions or in which the state
gives vouchers to students. The author concludes that
combining income-contingent loans and human capital
contracts with vouchers is the most efficient and equitable
method for financing lifelong learning. The author discusses
the role of governments and multilateral organizations in
improving the financing of lifelong learning. He assesses
shifting toward cost-recovery alternatives, focusing on
collection of payments, and aiming for the involvement of
private capital as key issues that should be addressed to
ensure that lifelong learning will be available for all
equitably and efficiently. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Palacios, Miguel |
| author_facet |
Palacios, Miguel |
| author_sort |
Palacios, Miguel |
| title |
Options for Financing Lifelong Learning |
| title_short |
Options for Financing Lifelong Learning |
| title_full |
Options for Financing Lifelong Learning |
| title_fullStr |
Options for Financing Lifelong Learning |
| title_full_unstemmed |
Options for Financing Lifelong Learning |
| title_sort |
options for financing lifelong learning |
| publisher |
World Bank, Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2003/03/2176367/options-financing-lifelong-learning http://hdl.handle.net/10986/18324 |
| _version_ |
1764439326202003456 |