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Financing Undergraduate Education: Designing National Policy


  • Michael S. McPherson
  • Morton Owen Schapiro


In this paper we summarize our recent work analyzing pricing, aid, access and choice in American higher education, and we draw out implications from those findings for national higher education policy. We find that real increases in net tuition have impaired access and choice principally for students from low-income families. The Clinton administration education proposals, rather than addressing the needs of this group, focus on providing tax benefits to middle and upper-middle income families. We argue that the nation needs a higher education program that provides more assistance to the students for whom the issue of college affordability is the most pressing.

Suggested Citation

  • Michael S. McPherson & Morton Owen Schapiro, 1997. "Financing Undergraduate Education: Designing National Policy," Williams Project on the Economics of Higher Education DP-43, Department of Economics, Williams College.
  • Handle: RePEc:wil:wilehe:43

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    Cited by:

    1. Bundorf, M. Kate & Pauly, Mark V., 2006. "Is health insurance affordable for the uninsured?," Journal of Health Economics, Elsevier, vol. 25(4), pages 650-673, July.
    2. Isabela Duarte & Joao de Mello, 2016. "The Effect of the Availabilty of Student Credit on Tuitions: Testing the Bennet Hypothesis using Evidence from a Large-Scale Student Loan Program in Brazil," 2016 Meeting Papers 1451, Society for Economic Dynamics.

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    JEL classification:

    • I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
    • I22 - Health, Education, and Welfare - - Education - - - Educational Finance; Financial Aid


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