City Research Online

Abstract

We study the impact of higher education financing on the academic aspirations of teenagers and their parents. We exploit a reform which introduced a large increase in the tuition fees universities can charge, more generous support for the poorest students and a more redistributive student loan system, and varied across the UK’s constituent countries. Using rare survey data on post compulsory secondary and university education aspirations, we find that teenagers’ aspirations are not responsive to large changes in higher education financing. In contrast, parents adjust their aspirations, resulting in a reduction of the socio-economic aspiration gap for their children.

Publication Type:	Article
Additional Information:	© 2021. This manuscript version is made available under the CC-BY-NC-ND 4.0 license https://creativecommons.org/licenses/by-nc-nd/4.0/
Publisher Keywords:	Education aspirations, University cost, Access to higher education
Subjects:	H Social Sciences > HG Finance H Social Sciences > HN Social history and conditions. Social problems. Social reform L Education > LB Theory and practice of education > LB2300 Higher Education
Departments:	School of Policy & Global Affairs > Economics

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