The provision of a higher education to a student is a service like few others. For the service to deliver value requires the active participation of the recipient. Even then, the range of possible outcomes - whether measured as personal or career development - is very wide. The heavy burden on...

We examine ways of funding higher education, comparing upfront tuition fees with graduate taxes. The tax dominates, as volatility in future income is transferred from risk-averse students to the risk-neutral state. However, a double moral hazard problem arises when students' efforts to raise...

Urgent financial crisis: The government's inflation based increase in 2025 tuition fees from £9,250 to £9,535 will generate only £330 million, less than the £370 million burden created by its budget. With university finances set to continue to deteriorate, and some institutions on the brink...

Although graduates tend, on average, to earn more than non-graduates, the 'graduate premium' varies greatly by subject and by year of graduation. It also varies significantly between individuals. There is considerable uncertainty about how the graduate premium will evolve for the coming...