Financing of Higher Education: Traditional Approaches and Innovative Strategies

278 Pages·2023·4.486 MB·English

by  N.V. Varghese, Jinusha Panigrahi

N. V. Varghese
Jinusha Panigrahi   Editors
Financing
of Higher
Education
Traditional Approaches and Innovative
Strategies
Financing of Higher Education
·
N. V. Varghese Jinusha Panigrahi
Editors
Financing of Higher
Education
Traditional Approaches and Innovative
Strategies
Editors
N. V. Varghese Jinusha Panigrahi
National Institute of Educational Planning National Institute of Educational Planning
and Administration and Administration
New Delhi, Delhi, India New Delhi, Delhi, India
ISBN 978-981-19-7390-1 ISBN 978-981-19-7391-8 (eBook)
https://doi.org/10.1007/978-981-19-7391-8
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Preface
Who should finance higher education—the government, the corporate sector or the
household sector? The traditional argument was in favour of public funding of higher
education and was based on economic rationality. The rate of returns analysis justified
public support and private investment in higher education. Some others felt that the
private returns to investment in education are substantial and argued for increased
investment by the private sector and households in higher education. Others supported
public intervention and financing of higher education based on concerns of social
and regional equity, while the economic argument was for a large share of public
investment at lower levels of economic development and a reduced level of public
investment at higher levels of economic development.
When the higher education sector was small in size, it attracted mostly the elites.
When massification became a reality, the disadvantaged started enrolling in large
numbers. Unfortunately, the state support to education during this period did not keep
pace with the increase in enrolment. Many countries across the world have explored
alternatives to public financing and came out with innovative methods to finance their
higher education sector. These innovative measures included cost saving measures,
cost sharing measures and income generating measures. Most higher education insti-
tutions in the world follow any one or a combination of these measures to finance
higher education.
The present volume on Financing of Higher Education: Traditional Approaches
and Innovative Strategies is based on selected papers presented at an international
seminar on the theme organised by the Centre for Policy Research in Higher Educa-
tion of the National Institute of Educational Planning and Administration. The
topics covered in the volume include aspects associated with mode of financing
of higher education, Russian transition in financing, public–private partnerships,
entrepreneurial universities, financing of public higher education institutions, public
financing of private education, innovative and sustainable approach in financing of
private higher education, costs of private higher education, external financing of
higher education and student financing of higher education.
v
vi Preface
We are grateful to the authors of various chapters of this volume for their incredible
contributions. I take this opportunity to place on record my profound appreciation
for the efforts made by my colleague at CPRHE, NIEPA, Dr. Jinusha Panigrahi, in
bringing out this volume.
New Delhi, India N. V. Varghese
Acknowledgments
This edited volume is an output of the continuous efforts and processes by multiple
stakeholders since the organisation of the international seminar by CPRHE, NIEPA
jointly with the British Council. It would not have been possible without generous
support received from various individuals, departments and agencies.
We are thankful to the British Council India, particularly Mr. Richard Everitt,
then Director, Dr. Manjula Rao, then Assistant Director and Ms. Garima Verma,
then Senior Project Manager; and other colleagues for collaborating with CPRHE
and supporting at various stages of the seminar.
We wish to put on record our gratitude for the Ministry of Human Resource
Development (MHRD) and the Ministry of External Affairs for their help in the
facilitation of visas for the international authors to attend the seminar.
The volume is organised into chapters written by renowned researchers and policy
makers in higher education. They contributed to the deliberations and discussions
in the seminar and help shaping the chapters by other peers and finally submitted a
revised version of their chapters after through reviews. The valuable contributions
of all the authors are gratefully acknowledged.
We are grateful to the National Institute of Educational Planning and Administra-
tion’s Registrar Dr. Sandeep Chatterjee and his team at the administration for all their
supports in expediting the whole process of publication of the volume. We are also
thankful to the then registrar (I/C) of the National Institute of Educational Planning
and Administration, Prof. Kumar Suresh, for his kind cooperation.
We thank the entire team of Springer publications and in particular Ms. Satvinder
Kaur to bring out the volume.
We thank all our colleagues at CPRHE for their continuous support and
cooperation.
Ms. Anjali Arora and Mr. Mayank Rajput extended all logistics supports to
organise the seminar, and Ms. Monica Joshi formatted the volume. Ms. Chetna
vii
viii Acknowledgments
Chawla diligently worked on the data and referencing of the volume. We grate-
fully acknowledge their contribution at different stages in the preparation of this
edited volume.
N. V. Varghese
Jinusha Panigrahi
Contents
1 Innovations in Financing of Higher Education: An Overview ...... 1
N. V. Varghese and Jinusha Panigrahi
Part I Financing of Higher Education: State-Market Dynamics
2 Mode of Financing of Higher Education: An Assessment
of the Possibilities ............................................. 17
Saumen Chattopadhyay
3 From State to Quasi-Market in Financing Higher Education:
Russian Transition ............................................ 35
M. Alashkevich and I. Froumin
4 The Entrepreneurial University ................................ 47
Bikas C. Sanyal
Part II Innovations in Financing of Public Higher Education
Institutions
5 Financing of Public Higher Education Institutions in India ........ 63
Jinusha Panigrahi
6 Financing of Public Higher Education Institutions in Odisha ...... 85
Mitali Chinara and Himanshu Sekhar Rout
7 Innovations in Financing of Higher Education: The Case
of Selected Universities in Kerala ............................... 99
C. Krishnan
8 Public and Private Partnerships for Higher Education
Financing .................................................... 113
M. M. Ansari
ix
x Contents
Part III Financing of Private Higher Education
9 Private Higher Education Institutions and Entrepreneurial
Universities ................................................... 131
Moses Oketch
10 Financing Private Universities and University Colleges
in Tanzania: Towards an Innovative and Sustainable Approach .... 145
Johnson Muchunguzi Ishengoma
11 Private Higher Education in India: Expansion, Costs,
and Financing ................................................ 161
Malathy Duraisamy
12 Public Financing of Private Education Though Fee
Reimbursement Scheme (FRS): A Case Study of Engineering
Education in Andhra Pradesh .................................. 179
B. Shiva Reddy and K. Anji Reddy
Part IV External Financing and Student Support System
in Higher Education
13 External Financing of Higher Education: The Practice
in Search of Theory ........................................... 199
G. D. Sharma
14 External Aid: Shifting Dynamics of India’s Higher Education
Cooperation and Exchange ..................................... 211
Mona Khare
15 Student Support System in India ............................... 229
Pankaj Mittal
16 Financing of Higher Education: A Study of PM’s Special
Scholarship Scheme for Jammu and Kashmir Students ........... 247
Vetukuri P. S. Raju