The relevance of the issue stems from the necessity to study the legal mechanisms for educational funding within the ongoing reforms, because their effectiveness would depend on the level of funding. The newest Federal Law on Education is the completion of a 20-year practice of the educational reform practice in Russia and the beginning of a new stage of entering the world educational space. The new law on Education has also created a new system of educational funding based on a combination of state and contractual regulation of financial relations. It is dealt with separate issues of educational funding at the present stage, including its effectiveness, and the possibilities and disadvantages of state funding. Attention is drawn to institute of self-sufficiency with financial resources of educational institutions. Based on the results of this study, the authors made conclusions about the prospects for a diversified regulation in the educational funding.

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