Financing of Higher Education

Paper Summary:

This paper discusses the debate over who should finance higher education - government funding, individuals or a combination of both sources. The paper discusses the benefits of higher education to the individual and to society as a whole. It describes the current funding of higher education in the United States and the arguments for and against changes to the current system.

From the Paper:

" Higher education for the individual has always been a way to enhance social esteem, land better-paying jobs, expand one's opportunities and stimulate one's intellect (Johnstore 2000). Society considers it the key to technology, productivity and inputs to global competitiveness and economic growth. It is always desirable and preferred in that it furthermore shapes and preserves values and culture. It also serves as a major means to social justice, equal opportunity and democracy. For all its significance, higher education throughout the world has been hindered by high costs, which are still fast rising. Governments have been reducing allocations for universities and other institutions of learning. These cutbacks have led to reduced staff, deterioration of plant and equipment, reduced salaries and reduced capacity to expand and meet student demand. Cost adjustments have been passed on to students and their parents and raised debt levels and access. These rising costs are accompanied by charges of inefficiency and lack of cost-benefit accountability. The conclusion among academicians has been that a financial crisis in education in most countries has occurred, especially in developing countries (Johnstone)."

Sample of Sources Used:

• Dougherty, K. (2004). Financing higher education in the United States: structure, trends and issues. Columbia University. 31 pages. Retrieved January 22, 2007 from http://www.tc.columbia.edu/centers/coce.pdf_files/c9.pdf
• Johnstone, D. B. (1993). Costs of higher education. Garland Publishing. 9 pages. Retrieved January 22, 2007 from http://www.gse.buffalo.edu/FAS/Johnston/TRENDS.HTM
• --------------------. (2000). The financing and management of higher education. The Worldwide University Reform Agenda. World Bank. 29 pages. Retrieved January 22, 2007 from http://www.gse.buffalo.edu/FAS/Johnston/WORLDBANK,HTM
• Vossensteyn, H. (2004). Fiscal stress: worldwide trends in higher education finance. NASFAA Journal of Student Financial Aid. Vol 34 number 1. 55 pages. Retrieved January 22, 2007 from http://nasfaa.org/annualpubs/Vol34no1/Vossensteyn.pdf
• Wellman, J.V. (2005). Trends and prospects of state funding of postsecondary education. 6 pages. Retrieved January 22, 2007 from http://www.solutionsforourfuture.org/site/DocServer/10-state-funding.pdf?doc10=105

More papers on Financing of Higher Education:

• Essay # 55523 : "Higher Education Finance"
• Comparison Essay # 119812 : "Access To Higher Education: Then and Now"
• Term Paper # 104294 : "Nursing Education"

APA Citation:

MLA Citation: