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Intrinsic versus instrumental benefits of higher education: The challenge from self-funded higher education

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posted on 06.01.2020, 14:49 authored by Simona RasciuteSimona Rasciute, Paul DownwardPaul Downward, Nick Simmons
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.

History

School

  • Business and Economics
  • Sport, Exercise and Health Sciences

Department

  • Economics

Published in

Applied Economics

Volume

52

Issue

31

Pages

3379 - 3390

Publisher

Taylor & Francis (Routledge)

Version

AM (Accepted Manuscript)

Rights holder

© Informa UK Limited, trading as Taylor & Francis Group

Publisher statement

This is an Accepted Manuscript of an article published by Taylor & Francis in Applied Economics on 10 January 2020, available online: http://www.tandfonline.com/10.1080/00036846.2019.1710455.

Acceptance date

23/12/2019

Publication date

2020-01-10

Copyright date

2020

ISSN

0003-6846

eISSN

1466-4283

Language

en

Depositor

Prof Paul Downward. Deposit date: 28 December 2019

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