Investing in Human Capital A Capital Markets Approach to Student Funding

Name: Investing in Human Capital A Capital Markets Approach to Student Funding
Price: 39.81 USD
Availability: InStock
ISBN: 9780521039529

ISBN-10: 0521039525

ISBN-13: 9780521039529

Edition: N/A

Authors: Miguel Palacios Lleras, Nicholas Barr

List price: $39.99

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Description:

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.

Book details

List price: $39.99
Publisher: Cambridge University Press
Publication date: 8/16/2007
Binding: Paperback
Pages: 252
Size: 6.02" wide x 8.86" long x 0.59" tall
Weight: 0.836
Language: English

Miguel Palacios Lleras is a Fellow at the Batten Institute, Darden School of Business Administration at the University of Virginia. He is the author of numerous papers on financing human capital and is co-founder of Lumni, a company that manages human capital funds.



List of figures


List of tables


Foreword


Acknowledgements


Introduction



The Problem of Financing Education



The value of education



Market failure in the financing of education



The need for alternatives to traditional funding



Equity-Like Investments to Finance Education



The evolution of human capital contracts



How human capital contracts work



The case for human capital contracts



Human capital options



Implementing Human Capital Contracts



Hurdles in the implementation of human capital contracts



Lessons from the implementation of income-contingent loans



Government-driven implementation of human capital contracts



Conclusion


Appendices


Notes


References


Index