Financing of Higher Education: Traditional Approaches and Innovative Strategies

Preface
Acknowledgments
Contents
Editors and Contributors
Abbreviations
List of Figures
List of Tables
1 Innovations in Financing of Higher Education: An Overview
Increasing Cost and Declining Public Funding of Higher Education
Innovations in Financing Higher Education Sector
Cost-Saving Measures
Cost-Sharing Measures
Income Generating Activities
Student Loans
Private Higher Education Institutions
External Funding of Higher Education
Student Support Systems
Edited Volume: Innovations in Financing of Higher Education
Financing of Higher Education: State-Market Dynamics
Innovations in Financing of Public Higher Education Institutions
Financing of Private Higher Education
External Financing and Student Support System in Higher Education
References
Part I Financing of Higher Education: State-Market Dynamics
2 Mode of Financing of Higher Education: An Assessment of the Possibilities
Introduction
Higher Education as a Public Good
Funding Policies for Public Higher Education Institutions
Case 1 (Q1): Input-Based Funding
Case 2 (Q2): Performance-Based Funding
Case 3 (Q3): Voucher System, a Solution for All the Ills Albeit Impractical
Case 4 (Q4): Market-Based Funding of Inputs
Offering of Self-Financing and Online Courses
Implications for Raising Tuition Fees for the Economy: Merit and Margin
Fees and Cost: Implications for Quality
Developing a Credit Market as Fees Become Cost Recovery
A Critical Look at the Market Mechanism to Fund Higher Education
Inherently Imperfect
Efficiency Makes Little Sense for Education
In Absence of Technology, Quality Depends Only on Motivation and Moral Values
Higher Education Funding Agency (HEFA)
Implications of HEFA for Quality and Governance
Public–Private Partnership
Different Models of PPP
Conclusion
References
3 From State to Quasi-Market in Financing Higher Education: Russian Transition
Introduction
The Difficulties of Transition
The New Approach: Key Upgrades
The New Operational Environment: University Response
Updating Financial Management in Higher Education: State Implications
Updating Financial Management in Higher Education: University Implications
Conclusion
References
4 The Entrepreneurial University
Introduction
Entrepreneurial Universities: The Role of Social Entrepreneurship
Entrepreneurial Universities: The Role of Spiritual Entrepreneurship
Economic Challenges
Social Challenges
Spiritual Challenges
Characteristics of Entrepreneurial Universities: An Attempt for an Exhaustive List
The University
Accreditation of Entrepreneurial Universities
Conclusion
References
Part II Innovations in Financing of Public Higher Education Institutions
5 Financing of Public Higher Education Institutions in India
Introduction
Background
Resource Allocation Criteria: Country Experiences
Financing of Higher Education in India
Public Expenditure on University and Higher Education Across States
Dynamics of Resources Allocation in Selected States
Share of Education in GSDP of Selected States
Sector-Wise Expenditure on Education in Selected States
Expenditure on Higher Education By States
Enrolment in Higher Education in Selected States
Process of Resource Allocation
Budgeting by the Higher Education Institutions
Criteria of Resource Allocation Within the HEI
Major Sources of Funding (Panigrahi, 2018b, 2019)
Conclusion
References
6 Financing of Public Higher Education Institutions in Odisha
Introduction
Rationale of the Study
Objectives
Data and Method
About the Sampled Institutions
Results and Discussion
Sources of Funding of the Institutions: Government and Internal Sources
Patterns of Expenditure
Monitoring Utilisation
Extent of Resource Surplus/Deficit
Utilisation of Funds
Activities Affected by Delay in Resource Availability at Institutional Level
Challenges Faced in the Mobilisation of Resources
Conclusion
References
7 Innovations in Financing of Higher Education: The Case of Selected Universities in Kerala
Introduction
The Background
University of Kerala
University of Calicut
Discussion
Conclusion
References
8 Public and Private Partnerships for Higher Education Financing
Introduction
The Context
Financing of Higher Education Institutions (HEIs)
Public Expenditure on Higher Education
Private Sector Expenditure on Higher Education
The Way Forward
Fiscal Incentives for Investment by Students and Parents
Adopt Income Contingent Loan Policy
Opening a New Window for Augmenting Private Capital for Investment in HEIs
Interface Between Industry
Implement National Admission Test Policy
Expedite the Accreditation of Public and Private HEIS
Conclusion
References
Part III Financing of Private Higher Education
9 Private Higher Education Institutions and Entrepreneurial Universities
Introduction
Background
James Estelle Argument and Its Application to Higher Education in SSA
What Are Some of the Determinants of the Emergence and Growth in Private Higher Education?
Enterprise University
Challenges to the “Enterprise” University in Africa
Conclusion
References
10 Financing Private Universities and University Colleges in Tanzania: Towards an Innovative and Sustainable Approach
Introduction and Background
Private Universities in Tanzania: Some Facts and Figures
Types and Ownership of Private Universities in Tanzania
Student Enrollment Trends and Academic Staff in Private Universities
Financing Private Universities in Tanzania: Current Modalities and Their Challenges
Toward Innovative Strategies of Funding Private Universities in Tanzania
Initiating Creative and Attractive Academic Programs
Undertaking Research and Consultancy
Establishment of a Joint Private Higher Education Bank
Internal Income Generation
Endowment, Gifts and Donations
Credit/Unit-Based Tuition Fee Financing
Conclusion
References
11 Private Higher Education in India: Expansion, Costs, and Financing
Introduction
Growth of Private Higher Education in India
Private Cost of Higher Education
Private Cost of Higher Education by Type of Management
Private Cost of Higher Education by Region and Type of Management
Cost Recovery and Financing of Higher Education
Cost Recovery by Public and Private-Aided Institutions
Conclusion
References
12 Public Financing of Private Education Though Fee Reimbursement Scheme (FRS): A Case Study of Engineering Education in Andhra Pradesh
Introduction
Salient Features of FRS
Admission and Fee Structure in Engineering Education
Implications of FRS
Access to Engineering Education
Gap Between Demand and Supply
Equity in Engineering Education
Quality of Engineering Education
Conclusion
References
Part IV External Financing and Student Support System in Higher Education
13 External Financing of Higher Education: The Practice in Search of Theory
Introduction
The Practice of Financing of Higher Education
External Finances—The Practice
External Financing Through Students
External Financing Through Institutions
Trade in Education Services and External Financing of Education Sector
FDI Policy of India
FDI in India
Services Sector
FDI in Education
Reasons for Poor FDI Inflows
FDI Inflow in New Areas in the Education Sector—Training and Skill Development
Government Initiatives
FDI Inflow in the Emerging New Model of Higher Education
Conclusion
References
14 External Aid: Shifting Dynamics of India’s Higher Education Cooperation and Exchange
Introduction
International Education Aid and India
Policy and Programmatic Shifts in Education Aid
Phase I: Pre Liberalisation
Phase II: Post-Liberalisation (Decade I—1990 to 2000)
Phase III: Can Be Termed as a Period of Emerging Self Reliance, Sector Wide Approach (SWAP) and Aid Consolidation (2000–2010)
Phase IV: Post-2010: Shifts in Sub-Sectoral Priorities, International Cooperation in Higher Education for Long Duration
India Resurgence as Emerging Donor
India as Historical Donor
Three Forms of India’s Foreign Assistance Programme
New Dimensions of India’s Aid to Education
Emerging Directions
India’s Changing Education Aid Modalities
Impressions of Changing Dynamics of ODA
Conclusion
References
15 Student Support System in India
Introduction
Safe Campuses
Addressing Grievances of Students
Addressing Imbalances
Socially Disadvantaged Sections of the Society
Facilities for Persons with Disabilities
Equal Opportunity Cells in Universities/Colleges
Centres for Study of Social Exclusion and Inclusive Policy
Creating Enabling Environment for Research
Post-Doctoral Fellowships
Doctoral Fellowships
Post-Graduate Scholarships
Undergraduate Scholarships
Digital Initiatives for Students to Improve Their Experience on Campuses
DTH SWAYAM-Prabha
Outcome of the Technology Enabled Learning Initiatives
Skill Development Initiatives
Conclusion
References
16 Financing of Higher Education: A Study of PM’s Special Scholarship Scheme for Jammu and Kashmir Students
Introduction
Financing of Higher Education in India
Special Scholarship Scheme for Jammu & Kashmir
Criteria for Selection of Students
Disbursement of Scholarships and Renewals
Implementation of the Scheme
Utilization Pattern of Scholarships
Social Profile of Students Obtaining Scholarships
State-Wise and Category-Wise Number of Students Admitted
State-Wise Distribution of Institutions Which Admitted Beneficiaries
Impact of the Scheme
Economic Profile of Students
Issues and Challenges for Effective Implementation of the Scheme
Inadequate Information About the Scheme
Lack of Inter-Departmental Coordination
Regional Language as a Medium of Instruction in Other States
Lack of Internet Facilities in the Remote Areas
Inadequate Guidance for Getting Admission
Non-Cooperative Attitude of the Colleges/Institutions
Problems to Attend the Counselling Centres
Delay in Renewal of Scholarships
Problems Faced by the Implementation Agency
Problems Faced by the Institutions/Colleges
Conclusion
References