Global student financing policies: funds for the achievement of equity
Higher education is seen, throughout the world, as an engine of social mobility, opening new opportunities for students from disadvantaged backgrounds. Therefore, increasing participation and achievement rates in higher education is a task shared by all the governments of the world, taking into account that the problem faced by policy makers in higher education is that there are different routes to achieve these goals.
The Student Finance Policies Worldwide: Leveraging Funding for Attainment and Equity in Higher Education report analyzes national education funding approaches to higher education for a diverse set of countries around the world, and the way each approach relates to equity and achievement. Conducted by Ariane de Gayardon (Center for Global Higher Education) and Lucia Brajkovic (World Bank), the analysis provides a frame of reference for higher education policy makers, facilitating the study of cost-sharing financing, and funding approaches designed to improve equity and encourage completion of studies.
Its central finding is based on the importance of targeting, since non-targeted financial policies subsidize students who do not need it, thus wasting national resources.
The study takes into account that the future design of financing models requires a solid knowledge of unique national systems and approaches in order to devise the right policy mix for the specific national context. Published by the American Council on Education (ACE, 2019), the report provides useful information in the area of global policies on student fees, loans, and higher education grants.