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