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The determinants of student loan take-up in England

De Gayardon, Ariane; Callender, Claire; Green, Francis; (2019) The determinants of student loan take-up in England. Higher Education 10.1007/s10734-019-00381-9. (In press). Green open access

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Recent changes in higher education financing policies in England have led to more students funding their studies via two types of student loan—for tuition fees and/or for maintenance. Moreover, the average amount borrowed has been increasing. Yet not all students take out loans, and understanding the determinants of take-up is important, not least because those who can manage to study without borrowing enjoy significant advantages both during and after their studies. Using Next Steps, a unique dataset with data on both types of loan and rich information on students’ backgrounds and their attitudes to debt, we analyse loan take-up by type of loan. We estimate the strength of the association of loan take-up with each of students’ family income, indicators of family wealth (home ownership, private education, not living in a deprived area, social class), parental education, gender, ethnicity and debt aversion. Of these, only social class is found to have no independent effect. We find that these associations can differ according to the type of debt. We also find that, while students from some disadvantaged groups are less likely to take out maintenance loans, this association is accounted for by students living at home while studying, a prime mechanism for debt avoidance.

Type: Article
Title: The determinants of student loan take-up in England
Open access status: An open access version is available from UCL Discovery
DOI: 10.1007/s10734-019-00381-9
Publisher version: https://doi.org/10.1007/s10734-019-00381-9
Language: English
Additional information: Copyright © The Author(s) 2019. This article is distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license, and indicate if changes were made. - With correction dated 21 June 2019.
Keywords: Student loans, England, Socio-economic background, Debt attitude, Higher education policy, Student aid
UCL classification: UCL
UCL > Provost and Vice Provost Offices > School of Education
UCL > Provost and Vice Provost Offices > School of Education > UCL Institute of Education
UCL > Provost and Vice Provost Offices > School of Education > UCL Institute of Education > IOE - Education, Practice and Society
URI: https://discovery.ucl.ac.uk/id/eprint/10074115
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