Antonio Cabrales, Maia Güell, Rocío Madera, Analía Viola, 24 July 2018

In most of Europe, the state pays for a university education, meaning that university finances are both regressive and cyclical. This column asks how the alternative system of income-contingent university loans would fare in Spain. The analysis suggests that the policy is feasible even in a country with a relatively poorly functioning labour market for young graduates.

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