How has taking out a student loan affected Colombian higher education students' lives?

What is it about?

A government-established student loans institute known as Instituto Colombiano de Credito Educativo y Estudios Tecnicos en el Exterior (ICETEX) has been instrumental in improving access to higher education in Colombia. This article uses the capability approach to analyze the ways in which ICETEX has contributed to loan recipients’ well-being and identify which capabilities loan recipients have reason to value. Evidence from qualitative interviews with eight participants reveals that, due to an intersecting set of conversion factors and capabilities, ICETEX both enables and constrains participants’ capabilities.

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Why is it important?

To the author's knowledge, this is the first empirical study to evaluate the impact of ICETEX on students' lives. It may also be the first study in Colombian higher education to use the capability approach.