Financial assistance for study abroad students: An economic analysis |
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| Authors: | Donald Lien Gang Liu |
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| Affiliation: | 1. European Central Bank (ECB), Department of Statistics, Neue Mainzer Straβe 60-66, 60547 Frankfurt am Main, Germany;2. Bank of Greece, Department of Economic Analysis and Research, Athens 10250, Greece;3. Athens University of Economic and Business, School of Economics, Athens 104 34, Greece |
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| Abstract: | This paper examines the scholarship payback policy embedded in a study abroad program. A full payback policy requires a student to return the whole amount of the scholarship should he fail to achieve a target post-program performance, whereas a partial payback policy requires a payback amount in proportion to the extent of the under-performance. It is found that, the university should adopt a fixed amount scholarship to maximize the average post-program ability. There is also an optimal partial payback policy. |
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