Marginal Willingness to Pay for Higher Education in Nigeria: Socio-Economic and Psychological Perspectives
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Serials Publications New Delhi (India)
Abstract
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This paper looks at the marginal willingness of ho'Usehold to pay for higher education in Oyo state,
Nigeria. It also examined the socio- economic and psychological reasons of households' willingness
to pay for education. The study employs descriptive statistics and econometric model in analysing
the data generated from survey questionnaires in Oyo State. The results shows that household income,
household size, parents education and type of school are major socio-economic factor that affect the
willingness of household to pay for higher education. The psychological reaction of the household
to increase in the cost of schooling reveals that greater percentage of household (above 60%) will use
their income while other said they will borrow, sell their assets or look for other means especially
to keep their girls in school. Marginal willingness results show that both rural and urban household
respondents are willing to pay for higher education in both public and private sectors. This
demonstrates the effectiveness of user charges (fees) as a means of improving school services and
solving the problem of inadequate funding for tertiary education, The policy implication of this is
that the actual effectiveness of user changes (fees) obviously depends on initial socio- economic and
psychological condition prevailing in the country that is using it as a policy option, because this will
influence the willingness of households to pay for further increase in school expenditure.
Keywords
BF Psychology