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.