Good Example Of Current Issues In Higher Education Financing Critical Thinking

Stability in the development of the higher education depends on the funding that is used to finance the required equipment and facilities in the institution. The important issues are to ensure that the higher education has sufficient and suitable equipment to deliver a high quality teaching and research that meets broader perspective on the educational, social, cultural and economic goals (Paulsen & Smart, 2012).
Resources are vital and fundamental in supporting learning in higher education. Therefore, financing of the institutions makes it available for the learning facilities. In so doing, regulations to control this sector are required to prevent over financing in accordance to the level, course and the economic situation. This enables institutions to provide quality education that makes students successful. Financial legislative framework that controls the compensation in higher education institutions must be in place to ensure control in financing. This is to ensure long life learning that focuses particularly on accessibility of higher education to all.
Factors that need attention in high education financing
The dangerous thing in higher institution is to depend on external funding, which makes the budget to be cut, hence reducing the resources available for teaching and student support. The external funding can only be viable under the condition that, it is the sole supplement to public funding to reduce the inconveniences that may be caused in learning and budget formulation.
Under financing, several factors need to be considered. The basic research that is for the sake of knowledge should be financed by the public. They are of the interest of the public. The second factor is that the measure of finances should not be the reason for higher education to prevent the less privileged students to choose their desired study path. The state in collaboration with the institution should consider such cases. The use of external funds calls for transparency. This is in budgeting and the general decision making on the development and the research supporting. Finally, the funds must be distributed across all the fields of study to safeguard the development in the research. The most particular fields are those focused as minimally commercially attractive.
Other issues in higher education financing
The first benefit of this education is that there is the idea of charging a tuition fee is based on the ideology and the economic belief of defining the higher education as the economic gain. This contradicts with the society norms and the values of the higher education. Therefore, the benefit of higher education is to gain the knowledge, civilization, and it is a human right. The other factors are the input and output factors. Initially the funding of the institution was considered against the number of the staff, students and departments in the institution. According to the output factor it was considered the number of graduates. This helped the institution be highly efficient and effective.
Reference
Paulsen, M. B., & Smart, J. C. (2012). The finance of higher education : theory, research, policy, and practice. New York: Agathon Press.