2134/11472183.v1
Simona Rasciute
Simona
Rasciute
Paul Downward
Paul
Downward
Nick Simmons
Nick
Simmons
Intrinsic versus instrumental benefits of higher education: The challenge from self-funded higher education
Loughborough University
2020
Higher education
Well-being
Anticipation and adaptation
Panel data
2020-01-06 14:49:27
Journal contribution
https://repository.lboro.ac.uk/articles/journal_contribution/Intrinsic_versus_instrumental_benefits_of_higher_education_The_challenge_from_self-funded_higher_education/11472183
UK policy concern about the value and funding of Higher Education has focussed on the intrinsic and instrumental impacts of education. Typically, returns to education are identified by narrow economic metrics, like earnings. However, policy makers recognize the need for wider measures of welfare. Consequently, contemporaneous relationships with subjective well-being (SWB) have been explored. In this paper the effects of higher education on SWB are mapped through time. The results show positive effects in the first year at university that dissipate afterwards. Intrinsic benefits from education remain but get eroded implying increased stress from loan financed education with transition to a more instrumental perspective on education.