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University of Wisconsin Press and The Board of Regents of the University of WisconsinSystem are collaborating with JSTOR to digitize, preserve and extend access to The Journal of Human Resources. ABSTRACT This paper examines the efficacy (in terms of labor market outcomes) of vocational school education in Israel as compared with that of academic schools. Using data from the 1983 population census, the study shows vocational schooling, which accounts for half of secondary school enrollment in Israel, to be more costeffective than general school education for those students who do not go on to higher education. In particular, those who complete vocational school and who work in occupations related to a course of study pursued at school earn more (by up to 10 percent annually) than their counterparts who attended general secondary schools or those from vocational schools who are employed in noncourse-related occupations. These results provide strong reinforcement of recent, broadly similar studies for the United States.
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Student Loans Repayment and Recovery: International ComparisonsHua Shen Adrian Ziderman
D I S C U S S I O N P A P E R S E R I E S
ABSTRACT Student Loans Repayment and Recovery: International ComparisonsStudent loans schemes are in operation in more than seventy countries around the world. Most loans schemes benefit from sizeable built-in government subsidies and, in addition, are subject to repayment default and administrative costs that are not passed on to student borrowers. We probe two issues in this paper, for 44 loans schemes in 39 countries: how much of the original loan is an individual student required to repay (the "repayment ratio") and what percentage of the total costs of loans schemes can the lending body expect to receive back in repayments (the "recovery ratio")? The analysis shows considerable variation in the size of the repayment and recovery ratios across schemes. Moreover, many loans schemes exhibit sizeable built-in subsidies accruing to student borrowers -in over 40 percent of the schemes examined, the repayment ratio is 40 percent or less. Overall loans recovery is considerably lower. Policy implications of these findings are discussed together with a consideration of steps that may be taken to improve the financial outcome of loans schemes.JEL Classification: I22, H52
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