The UK government has expressed a desire to increase social mobility, with policies to help achieve this aim focused on reducing inequalities in educational attainment. This paper draws together established and new information about the contribution that higher education can make to social mobility using a life-course approach, considering differences by family background in terms of university attendance and achievement, as well as occupation and earnings following graduation. We find substantial socio-economic differences at each stage. Young people from poorer backgrounds are, on average, less likely to go to university than their richer peers. Even among the selected group who do go to university, they are less likely to attend the highest status institutions, less likely to graduate, and less likely to achieve the highest degree classes. These differences in degree outcomes contribute to the lower average earnings of graduates from poorer families, but earnings differentials go well beyond those driven purely by degree attainment or institution attended. The evidence strongly suggests that, even after taking these factors into account, graduates from affluent families are more likely to obtain a professional job and to see higher earnings growth in the labour market. We discuss the implications of these findings for the prospects of higher education as a route to greater social mobility.

Many students appear to leave full-time education too soon, despite the possibility of high returns from further investment in their education. One contributory factor may be insufficient information about the potential consequences of their choices. We investigate students' receptiveness to an information campaign about the costs and benefits of pursuing postcompulsory education. Our results show that students with higher expected net benefits from accessing information are more likely to avail themselves of the opportunity presented by our experiment. Their intention to stay on in post-16 education is strongly affected by the experiment, though not their intention to apply to university. Effects are heterogeneous by family background and gender.

for their comments and suggestions. We also thank participants of the 2017 Higher Education, Funding & Access Seminar at the University of Edinburgh, and participants of the 2016 Northwestern University economics workshop for comments and suggestions. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peer-reviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications.

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Survey data covering 1992-2007, a period of important variation in higher education finance, which saw the introduction of up-front tuition fees and the abolition of maintenance grants in 1998, followed some eight years later by a shift to higher deferred fees and the reinstatement of maintenance grants. We create a pseudo-panel of university participation of cohorts defined by sex, region of residence and family background, and estimate a number of different specifications on these aggregated data. Our findings show that tuition fees have had a significant negative effect on participation, with a £1,000 increase in fees resulting in a decrease in participation of 3.9 percentage points, which equates to an elasticity of -0.14. Nonrepayable support in the form of maintenance grants has had a positive effect on participation, with a £1,000 increase in grants resulting in a 2.6 percentage point increase in participation, which equates to an elasticity of 0.18. These findings are comparable to, but of a slightly lower magnitude than, those in the related US literature. Terms of use: Documents in

We study the UK's university application system, in which students apply based on predicted examination grades, rather than actual results. Using three years of UK university applications data we find that only 16% of applicants' predicted grades are accurate, with 75% of applicants having over-predicted grades. However, high-attaining, disadvantaged students are significantly more likely to receive pessimistic grade predictions. We show that under-predicted candidates are more likely to enrol in courses for which they are over qualified. We conclude that the use of predicted rather than actual grades has important implications for labour market outcomes and social mobility.

Background: Political devolution occurred in the UK in 1998-99, following many years in which some degree of policy administration had been devolved to the four nations. Since devolution, all four countries of the UK have pursued increasingly divergent education policies. This is true in England in particular, where diversity, choice and competition have become a key focus of education policy. This political divergence between the four nations gives us the opportunity to appraise differences and similarities in educational policies and outcomes in the four UK nations. Purpose: This article is a comparative review of the education reforms of the constituent countries of the UK, with particular focus on value for money. The main aims of the article are to (1) outline the key differences in the educational systems in terms of school type, choice and competition, educational resources and pedagogy; (2) describe how the countries compare in terms of educational attainment during compulsory schooling years; (3) examine inequalities in educational attainment, such as by gender and socio-economic status, and how the different countries compare on these measures; and (4) examine existing evidence on the effectiveness and value for money of different education policies and programmes in the different countries. Sources of evidence: We use a variety of sources of evidence to achieve these aims. We undertake a literature review of the existing evidence on the effectiveness and value for money of different programmes and policies that have taken place across the UK. We also collate and undertake an analysis of data on educational outcomes from published statistics sourced from the national statistics offices of each country. It is easier to be confident about comparisons based on international data sets because in this case all students will have taken exactly the same test, so we also compile and analyse survey data from international surveys of educational attainment such as PISA, PIRLS and TIMSS. Main argument: We argue that while the systems of the four countries of the UK are becoming increasingly divergent, there are still many similarities. This is borne out in the evidence on educational outcomes, which show many similarities between the four countries. Because of these similarities, the positive impacts of many of the policies and programmes adopted in England may have relevance for Scotland, Wales and Northern Ireland. Conclusions: We find evidence that increasing school resources improves results, and also that more targeted spending benefits able pupils from disadvantaged backgrounds. We also find positive results of several programmes. Evaluating the education policies of the four nations in terms of value for money -and therefore whether they have scope to be adopted -represents a bigger challenge. Whilst the value for *Corresponding author.

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