Finding solutions for sustainable financing of tertiary education in small states

Tewarie, Bhoendradatt
IIEP policy brief: tertiary education in small states, 2
8 p.

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Increased social demand for tertiary education in small states and the desire of these countries to participate in the knowledge economy have led to the need for greater investment in tertiary education. But where will the significant finance for needed investments come from? Good decisions about financing a sustainable tertiary system depend upon the effective resolution of key policy issues concerning the shape and the nature of the tertiary system and who will pay for what. Sustainability also requires: predictable government funding; a clear position on private sector participation in education; public-private partnerships; entrepreneurial interventions; commercialization; leveraging of regional and international partnerships; and various forms of equity financing together with solutions for student support. The future is clearly in sharing costs, diversifying income sources, creating new sources of income, building partnerships at home and abroad, and creating wealth beyond teaching and research.