Financing Higher Education in a Global Market

Financing Higher Education in a Global Market

Financing Higher Education in a Global Market

Financing Higher Education in a Global Market


If there was ever a time when higher education needed sustained scholarly reflection on finance, it is now. The reality of globalization for higher education suggests an increase in competition—competition for students, faculty, and resources. Member states of the European Union are currently making a speedy and concerted effort to harmonize their curricula and educational processes. This exercise fosters greater mobility among students and faculty. Where mobility is enhanced, competition among service providers intensifies.

Technology has brought tremendous progress to distance education. Spiru Haret University in Romania boasts of its educational broadcast that covers most of Europe. University of Phoenix in the United States currently boasts of over 200,000 students spread across the world. Certainly, it is no longer business as usual in higher education.

Yet there are very few books on higher education finance; and even fewer are those that attempt to treat this important subject within an international context. There is a reason for this. A colleague from Great Britain described it this way:

One thing we all know is that without money we cannot do what we are doing.
However, I doubt if any of us can articulate with absolute certainty how money
produces effects on education outcome. The actors are constantly changing, the
issues are complex, the constraints are many — not to talk about the ubiquitous
politics that one needs to contend with. Almost every time we try to write, events
overtake our reasoning before the ink dries on the prints.

With a statement like this from an invited contributor, the temptation to lay down the tools and quit was high.

Still, the changes and challenges are exciting. Government’s ability to control and confine education to its borders is fast eroding. With Internet and . . .

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