Finance Systems for Higher Education - 1590 Words

Higher education from United States is the best in the world, since it has a good quality. Tulip said, â€Å"United States colleges and universities offer more choice, their graduates receive greater wage premiums, and they attract more than twice as many foreign students as any other country.† Actually, people can see a large difference in wages between people who go to colleges and people who do not go to colleges. People still go to colleges even if many students need to finance their education. Within a good quality in higher education, then more and more international students are studying in the United States. In order to maintain education quality, finance system is significant. It shows how to balance equity and equality in education.†¦show more content†¦Since public expenditure is huge, colleges will function better within sufficient funds. Increased amount from tuition will help colleges to provide better quality of education. Moreover, the other two are lo cal taxes of $8.9 billion and ARRA funds of $2.8 billion. These two account for 6% and 2% in all financial resources, respectively. As we mentioned earlier, ARRA is organized to provide funds to public schools in a recession time. According to SHEA report, author wrote about that ARRA funds for public colleges and universities can mitigate tuition increases and layoffs. And one thing needs to be mentioned is that â€Å"Very few public institutions have significant non†restricted revenue from gifts and endowments to support instruction.† Public colleges are largely different from private colleges, so they do not receive private endowments from rich people and their alumni. The most important and largest funding is from government. Next, we will explore how government funding should be distributed. First of all, we need to explore how government funding comes from. According to SHEA report, state and local government funding for public colleges and universities comes from the following aspects. These are appropriations from state tax revenue, Non†tax appropriations, mostly from state lotteries, Local appropriations, State†funded endowment earnings, Oil and mineral extraction fees or otherShow MoreRelatedThe Growth Of Self Financing Colleges937 Words   |  4 Pages3.6.1 Unprecedented Growth There has been tremendous growth in private higher education from the beginning of the 1990, this growth has been unprecedented; infact, before 1990 there were very few private institutions. By private institutions not mean the private aided colleges that have been in existence before independence, but private, self-financing colleges, which started emerging during the last quarter of century. 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