The Role of Financing Higher Education in Nigerian Universities in Achieving Sustainable Development

The current study aims to identify the role of financing higher education in Nigerian universities in the state of Kano and its impact on sustainable development. The study problem lies in the low funding of higher education in Nigerian universities, which will negatively affect the sustainability of higher education and sustainable development. The importance of the study is highlighted by highlighting the importance of financing higher education in Nigerian universities and the sources of obtaining this funding as one of the most important factors through which students can complete their studies. The study followed the qualitative approach with the aim of obtaining more accurate information about traditional higher education financing sources and its impact on the sustainability of education and achieving sustainable development. The study population reached the number of three Nigerian universities, which are a governmental, federal and private university, to learn about the impact of financing higher education in Nigerian universities on sustainable development. The sample of the study was about three out of five of those responsible for financing higher education in Nigerian universities. Also, the study followed unstructured or open interviews in order to obtain more information about financing higher education and whether or not it is suitable for the idea of a monetary endowment. The results of the study showed that the sources of financing for higher education in traditional Nigerian universities are varied, including what can be obtained through the endowment and donations fund that can be made through community initiatives, and the results of the study also indicated that the idea of a monetary endowment faces great challenges in its application, so the idea is subject to acceptance and rejection. According to the nature of the university and the nature of the subjects taught. The study recommended the necessity of expanding the study of the impact of financing higher education in Nigerian universities by expanding the scope of study to include all Nigerian states.

Investments in higher education during distance learning

Финансирование высшего образования в России осуществляется из государственных и негосударственных источников. Государственное финансирование образования традиционно является доминирующим, однако его размеры недостаточны для надлежащего материально технического обеспечения учебного процесса и научно-технической деятельности. Проблема финансирования высших учебных заведений в России особенно обострилась вследствие финансово-экономического кризиса. С одной стороны, сократились возможности бюджетного финансирования ВУЗОВ и, как следствие, уменьшился уровень заработной платы профессорско-преподавательского состава, снизились расходы бюджета на научные исследования, приостановления бюджетного финансирования льготных кредитов на строительство жилья для научно педагогического и педагогического персонала; с другой стороны – относительно возросла доля средств специального фонда, заработанных собственно государственными высшими учебными заведениями. На данный момент большинство механизмов финансирования высшего образования, доказавших свою эффективность в развитых странах, все еще недостаточно распространены в России или недостаточно активно используются высшими учебными заведениями. В частности, практически не используется потенциал грантового финансирования, государственно-частного партнерства и тому подобное. Ученые называют практическое отсутствие в стране практики государственного стимулирования участия корпоративного сектора в финансировании высшего образования «структурными перекосами», хотя мировой опыт свидетельствует об осознании на микроуровне важности компетенции работников, что стимулирует инвестирование работодателями в повышении их образовательного уровня. Financing of higher education in Russia is carried out from state and non-state sources. State funding of education has traditionally been dominant, but its size is insufficient for proper material and technical support of the educational process and scientific and technical activities. The problem of financing higher education institutions in Russia has become particularly acute due to the financial and economic crisis. On the one hand, the possibilities of budgetary financing of universities have decreased and, as a result, the salary level of the teaching staff has decreased, budget expenditures on scientific research have decreased, the suspension of budget financing of concessional loans for housing construction for scientific, pedagogical and teaching staff has decreased; on the other hand, the share of special fund funds earned by state higher education institutions themselves has increased relatively. At the moment, most of the mechanisms for financing higher education that have proven their effectiveness in developed countries are still not widespread enough in Russia or are not actively used by higher education institutions. In particular, the potential of grant financing, public-private partnerships, and the like is practically not used. Scientists call the practical absence in the country of the practice of state incentives for the participation of the corporate sector in the financing of higher education "structural distortions", although world experience shows that the micro-level awareness of the importance of the competence of employees, which encourages employers to invest in improving their educational level.

Legal Requirements and Procedures for the Establishment and Sustainability of the Educational Space of Georgian Universities

Georgia’s involvement in the Bologna process has completely changed and redefined the orientation of its development and, therefore, its strategic goals. Initially, the Law of Georgia on Higher Education was drafted (adopted December 21, 2004) which regulates the process of carrying out educational and scientific-research activities by higher education institutions in Georgia, and the principles and procedures of administering and financing higher education; it also defines the procedures for establishment, reorganization of the activities and for the liquidation of all the higher education institutions, as well as principles of the authorization and accreditation of higher education institutions. The given law has set minimum standards and requirements for the establishment of higher education institutions in the education system of Georgia. On the whole, the changes made and defined in the Law on Higher Education has laid the foundation for the authorization and accreditation of higher education institutions as an essential requirement for their existence and sustainability in the common European educational area.

FINANCING OF HIGHER EDUCATION IN THE REPUBLIC OF MOLDOVA ON THE BASIS OF STANDARD COST PER EQUIVALENT STUDENT

The author of this article deals with the long process of searching for funding higher education reform in Moldova. From the 90s of the century XX , when the Republic of Moldavia became independent, and until 2019, higher education in the Republic of Moldova has been funded by the "egalitarianism" socialist, without taking into account the difference between the curricula of higher education institutions. In 2010 he published the monograph "Methods of financing public education" that including it investigates the mechanism of financing of higher education, criticizing it and recommends the implementation of European practices and especially Romania, on the financing of higher education, taking into account the complexity of study programs. The central administration empowered with the function of managing higher education did not react to the researchers' recommendations.In 2019, the Ministry of Education, Culture and Research (MECR) began studying the New Methodology on financing higher education in Moldova based on the standard cost per student equivalent to the support of the World Bank and Romanian experts. This New Methodology for financing higher education was approved in 2020 and entered into force starting with the 2020-2021 years of study. The new funding mechanism takes into account the complexity of study programs, which correspond to a certain significant adjustment coefficient. We believe that the new methodology of higher education financing favors deepening performance and competency-based learning.

Methodological Approaches to Financing Higher Education Institutions in the Context of Digitalizing the Russian Higher Education

Forecasting changes in the external and internal parameters of the socio-economic development of higher education (HE) as an integral system, as well as the risks of its digitalization that reduce the quality of human capital suggest the expansion of contemporary methodological instruments for financing higher education institutions (HEIs). In the article the principles of project financing that combine system and process approaches have been suggested, and the need to introduce the axiological approach into the methodological basis of project financing of HE as a specific way of organizing and performing financial activities, obtaining and using its results with regard to certain values, and neutralizing the risks of digitalizing education along with improving the quality of human capital has been substantiated.

Student Loans Financing in Tanza:

This study examined the mechanisms employed to finance student loans in Tanzania and who benefits and how. The findings show that student loans are financed by the public exchequer. The number of students fromhigh-income families accessing these loans is disproportionate to their representation in Higher Education Institutions, while the share for middle and low-income students reflects their representation. There is also animbalance between male and female beneficiaries across programmes, notably in the Science, Technology, Engineering, and Math (STEM) disciplines. It is concluded that such disparities are the result of the fact thatthe student loan scheme seeks to satisfy a number of government policy objectives in relation to higher education beyond access and equity, and that means testing is not rigorously conducted. Key words: Higher Education, higher education policy, financing higher education, higher education student loans, public subsidisation of higher education

FEATURES OF RESULT BASED FINANCING HIGHER EDUCATION

The key role of the education system in the formation of a knowledge society is raising the issue of improving its financing. In the face of new challenges and aggravation of global competition, the mechanism for financing the higher education system is being transformed. The need to increase funding is manifested in expanding financial sources and improving the management of various financial flows. Increasing the effectiveness of public funding is becoming an important issue, which remains the main source of financial revenues for institutions of higher education in countries of the world. A promising practice in the world is the use of funding based on the results of activity, which is becoming more widespread in various areas of economic activity. The purpose of this article is to study the current world-wide practice of applying results-based financing of higher education and defining promising directions for its implementation in Ukraine. The essence and features of RBF - Result Based Financing (RBF) method, including in the system of higher education, are revealed. The existing approaches to financing higher education institutions in the world based on results are systematized, the main criteria for their definition are identified: on the basis of inputs, process, output, output. The world practice of using higher education institutions financing based on the results, positive and negative consequences of its implementation is highlighted and summarized. The necessity of using RBF funding in the system of native education is proved, the main directions and areas of its use are determined. The application of a two-tier model of financing higher education institutions in Ukraine is proposed, which combines the traditional cost-oriented approach and funding based on the results of the activity.