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===20th century=== Since [[World War II]], developed and many developing countries have increased the participation of the age group who mostly studies higher education from the elite rate, of up to 15 per cent, to the mass rate of 16 to 50 per cent.<ref>{{cite report | last=Trow | first=Martin |year=1973 | url=http://files.eric.ed.gov/fulltext/ED091983.pdf | title=Problems in the transition from elite to mass higher education | publisher=Carnegie Commission on Higher Education | publication-place=Berkeley | access-date=1 August 2013}}</ref><ref>{{cite book | last=Brennan | first=John | year=2002 | chapter=The social role of the contemporary university: contradictions, boundaries and change | pages=22β26 | title=Ten years on: Changing higher education in a changing world | publication-place=Buckingham | publisher=Centre for Higher Education Research and Information, Open University | chapter-url=https://www.open.ac.uk/cheri/documents/ten-years-on.pdf#page=22 | url-status=dead | archive-url=https://web.archive.org/web/20170525155320/https://www.open.ac.uk/cheri/documents/ten-years-on.pdf#page=22 | archive-date=25 May 2017 | access-date=9 February 2014}}</ref> In many developed countries, participation in higher education has continued to increase towards universal or, what Trow later called, open access, where over half of the relevant age group participate in higher education.<ref>{{citation | last=Trow | first=Martin | date=2005-08-05 | title=Reflections on the transition from elite to mass to universal access: forms and phases of higher education in modern societies since WWII | url=https://escholarship.org/uc/item/96p3s213}} Republished in {{cite book | editor-last=Forest | editor-first=James J. F. | editor-last2=Altbach | editor-first2=Philip G. | date=2006-04-20 <!-- 2006-04-20 --> | title=International Handbook of Higher Education: Part One: Global Themes and Contemporary Challenges | publication-place=Dordrecht, Netherlands | publisher=Springer | isbn=978-1-4020-4011-5 | oclc=65166668 | series=Springer International Handbooks of Education |volume=18 | url=https://books.google.com/books?id=u3rtCh-EUIIC&pg=PA243 | pages=243β280}}</ref> Higher education is important to national [[economy|economies]], both as an industry, in its own right, and as a source of trained and educated personnel for the rest of the economy. College educated workers have commanded a measurable wage premium and are much less likely to become unemployed than less educated workers.<ref name="Simkovic">{{cite journal |ssrn=1941070 | title=Risk-Based Student Loans| date=5 September 2011| last1=Simkovic| first1=Michael|journal=Washington and Lee Law Review}}</ref><ref name="OECD">{{citation | author=OECD | title=Education at a Glance |year=2011}}</ref>
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