Chile's State-Guaranteed Student Loan Program : Analysis and Evaluation

World Bank

Washington, DC

关键词: ACADEMIC PERFORMANCE;    ACADEMIC YEAR;    ACADEMICALLY QUALIFIED STUDENTS;    ACCESS TO FINANCING;    ACCESS TO TERTIARY EDUCATION;   

RP-ID  :  70209

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

Chile's Programa de Credito conAval del Estado (CAE in its Spanish acronym) is uniquelypositioned to help hundreds of thousands ofqualified-but-financially-needy Chileans attend and finishtertiary education. The CAE program was designed to improveaccess to and equity in tertiary education. In 2010, afteronly four years of operation, the Program had 216,000 activeborrowers or 23 percent of the 940,000 students inpre-grado. Even as the annual number of new beneficiarieslevels off, the portfolio will increase for the next severalyears until reaching a steady state with approximately460,000 active borrowers by 2016. This report is part of the2010 Joint Studies Program between the Government of Chileand the World Bank. The purpose of the study is three-fold.First, to evaluate the impact of this program on access toand equity in higher education, taking into account theeffectiveness of targeting qualified but financially needystudents and its complementarities with other major studentaid mechanisms. Second, to understand the size of theeconomic commitment the Chilean Government has made withthis program, both in terms of its investment to date andits contingent liabilities. Third, to formulaterecommendations for improvements going forward. The firstchapter summarizes CAE's legal framework andinstitutional arrangement, explains how the CAE systemfunctions, and describes the main characteristics of theloan product. The second chapter presents a brief overviewof CAE's structural cost according to current programdesign and briefly describes the model used to calculateCAE's actual cost. The results of the latter are thenincluded throughout the rest of the report as appropriate.The remaining parts of the chapter focus on CAE'sstakeholder's students, tertiary educationinstitutions, financial entities, and the Government ofChile and explore and analyze the impact the CAE program hashad on them. The third and final focuses on recommendationsfor improving CAE: increasing loan repayment rates, loweringcapital costs of loan origination, and increasing thecoordination of CAE with other student aid programs. The endof the chapter then shows what the financial impact of theserecommendations might be for the Government of Chile.