Executive Summary

1. Introduction

The project mandate

Aims of the report

Structure of the report

2. The problems to be addressed

Context

Public finances

Student contributions and the burden on graduates

Implications for institutions

Incentive effects and likely responses

3. The modelling challenge

Dimensions of the problem

Solutions to the modelling challenges

Presenting the results

4. The simulations

Simulation strategy

The base case

Public finances

Graduate debt

Government contributions by socio-economic group

Choosing a way forward

5. The policy options

The alternatives

A: The Maintenance Option

B: The Tuition Contribution Option

C: The Means-Tested Tuition Option

D: The Tuition Contribution with Restored Maintenance Grants Option

End notes

List of tables

List of charts

Annexes

1. Qualitative assessment of stakeholder behaviour in higher education

2. Analysis of funding options: invitation to tender

3. Higher education financing model - model description

4. Graphs of the effects of policy options

5. List of LE working papers

Glossary