feature of the income-contingent loan system, given its design, but this to our
knowledge represents the first empirical estimation of such distributional effects.
Table . Average graduate payments under new HE system (debt of £18,340), by
decile of graduate lifetime earnings distribution
|
Decile of |
a |
b |
c | ||||||
|
All |
Females |
Males |
All |
Females |
Males |
All |
Females |
Males | |
|
Poorest |
£9,077 |
£13,43 |
50.5% |
22.7 |
23.8 |
18.6 | |||
|
£ 7,435 |
0 |
59.5% |
26.8% | ||||||
|
2∏d |
£13,314 |
£14,64 |
27.4% |
19.4 |
21.6 |
15.7 | |||
|
£10,900 |
0 |
40.6% |
20.2% | ||||||
|
3rd |
£14,419 |
£14,92 |
21.4% |
17.2 |
19.9 |
14.4 | |||
|
£13,180 |
5 |
28.1% |
18.6% | ||||||
|
4th |
£14,792 |
£15,16 |
19.3% |
15.4 |
17.9 |
13.3 | |||
|
£14,225 |
0 |
22.4% |
17.4% | ||||||
|
5th |
£14,963 |
£15,33 |
18.4% |
14.4 |
16.4 |
12.5 | |||
|
£14,645 |
0 |
20.1% |
16.4% | ||||||
|
6tth |
£15,164 |
£15,49 |
17.3% |
13.4 |
15.3 |
11.7 | |||
|
£14,850 |
0 |
19.0% |
15.5% | ||||||
|
7lh |
£15,333 |
£15,63 |
16.4% |
12.6 |
14.5 |
11.1 | |||
|
£14,980 |
0 |
18.3% |
14.8% | ||||||
|
8tth |
£15,527 |
£15,79 |
15.3% |
11.7 |
13.4 |
10.4 | |||
|
£15,185 |
0 |
17.2% |
13.9% | ||||||
|
9th |
£15,757 |
£15,88 |
14.1% |
10.6 |
12.6 |
9.9 | |||
|
£15,340 |
0 |
16.4% |
13.4% | ||||||
|
Richest |
£16,004 |
£16,10 |
2.7% |
9.4 |
11.1 |
9.0 | |||
|
£15,670 |
5 |
14.6% |
12.2% | ||||||
|
All |
£14,439 |
£13,640 |
£15,23 |
21.3% |
16.9 |
16.6 |
12.7 | ||
|
8 |
25.6% |
% |
14.7 | ||||||
Figure a. Net present value of graduate repayments under the new HE system
15