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Study guide for indv 103 NOTE HALL COM STUDY GUIDE FOR INDV MC Questions Is Higher Education Worth the Cost Chapters Income Distribution Poverty Chapters STUDY THIS BEFORE TAKING THE ONLINE MIDTERMS FOR PRACTICE Higher Education ? Subsidies to higher educ

NOTE HALL COM STUDY GUIDE FOR INDV MC Questions Is Higher Education Worth the Cost Chapters Income Distribution Poverty Chapters STUDY THIS BEFORE TAKING THE ONLINE MIDTERMS FOR PRACTICE Higher Education ? Subsidies to higher education bene ?ts who o Subsidies bene ?t those below poverty threshold merit-based military scholars etc ? Government role loan market o The government role in America is just to subsidize education or encourage education to establish a more educated workforce and population o The following are rd party payments for students ? Need-based ?nancial aid ? Perkins loans low interest loans o For students w exceptional ?nancial need ? PLUS loans allow parents to borrow money for children ? s college education ? Supplemental Educational Opportunity Grant SEOG federal award for exceptional ?nancial need in college ? Work-study programs jobs on campus to pay for tuition and are federally ?nanced ? Merit-based ?nancial aid scholarships ? Academics athletics etc ? Subsidized Sta ?ord Loans federal aid ? Source of funds private public universities o Private ? Fees Tuition tuition is the main source of funding C ? Alumni donations o Public ? State government subsidies ? Fees tuition ? Alumni donations ? Major government subsidies some of these are re-described from above o Subsidized Sta ?ord Loans federal aid ? Low-interest loans no-payment until after studying fed govt pays interest while in school ? Average loan size o Perkins loans very low interest loans ? For students with exceptional ?nancial need o Pell grant one of the most important grants for needy families o NOT A LOAN ? For low income families k year ? of recipients million ? Max size of grant ? Lower income higher grant ? Rationalization of subsidies to university students o More lower-income students will be able to a ?ord high-level education o Subsidizing students will make more students go to university with more students at university more white-collar high-end jobs will be created and therefore society the country will bene ?t because the country moves closer to a service-producing nation rather than a goods-producing nation ? Total lifetime earnings di ?erential between H S and College o Di ?erence in total earnings ? Civilian Labor Force Participation Rate o The proportion of the civilian noninstitutional populations that is actively participating in the civilian labor force ? Formula civilian labor force Population ? gives a rate or x gives a ? Population is above years older and not in institutions ? Calculate present value we can calculate amounts paid at di ?erent times from other another o Used for investment purposes to see if money can be made with the interest rate o Present value Payment r n ? Payment payment to be received in the future ? r interest rate ? n number of years before payment is received ? Present value the interest-adjusted value of future payment C ? i e you expect to receive a dividend of in years To calculate the present value of that