ERIC Number: EJ697531
Record Type: Journal
Publication Date: 2005-Feb
Reference Count: N/A
The Real University Cost in a ''Free'' Higher Education Country
Psacharopoulos, G.; Papakonstantinou, G.
Economics of Education Review, v24 n1 p103-108 Feb 2005
Using a sample of over 3000 first year university entrants in Greece, we investigate the time and expense incurred in preparation for the highly competitive higher education entry examinations, as well as what students spend privately while attending university. It is shown that in a constitutionally ''free for all'' higher education country, families spend privately more than the state in order to prepare for the entrance examinations and while studying at the university. In addition, poorer families spend a higher share of their income on the education of their children. Private education expenditure seems to be a necessity for all, the income elasticity being of the order of 0.2-0.3.
Descriptors: Foreign Countries, Family Income, Higher Education, Educational Finance, College Preparation, Competitive Selection, Student Costs, College Entrance Examinations, Paying for College
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Publication Type: Journal Articles; Reports - Descriptive
Education Level: Higher Education
Authoring Institution: N/A
Identifiers - Location: Greece