Models of higher education institutions work financing

Abstract

The paper summarizes the experience in higher education institutions financing, substantiates the trends in their financial support models diversification. The study systematizes approaches to the organization of higher education institutions financing under market conditions and reveals their advantages and disadvantages in terms of the effects at the level of an individual and society as a whole. It defines tools and models of the financing under orientation on demand, supply and strategic purposes of the national development. The study proves the need to substantiate the rational balance of individual and social effects in higher education institutions financing, which can be achieved through a combination of market self-regulation and state regulation of the higher education services market. The system of methods was used in the study, namely: monographic – to define the research aim and conclusions, the method of theoretical generalization of foreign and domestic scientists was used to critically analyze the existing approaches to the organization of financing the work of agricultural education higher institutions. General scientific methods of cognition, such as analysis and synthesis, induction and deduction, systemic integrated approach, were used to systematize the models of financial support for higher agricultural education institutions and to generalize the conclusions. The paper substantiated that the state should take leading positions in higher education institutions financing. The role of state funding in ensuring sustainable development of agricultural education higher institutions has been identified considering the specificity of educational services and their role in ensuring sustainable development of the agricultural sector of the economy and rural areas. It is argued that the current conditions of free economic development and challenges the institutions face requires focusing on consumer demand and adjusting their educational services through prompt updating the changing educational programs based on modern research, attracting a larger number of stakeholders in the financing model formation. The modern tendencies typical of the market of educational services determining the expansion of the participants of the organization of financing the higher education institutions activity, are considered. The importance of financing elements focused on the innovations development, the role of which will grow in the future, especially in the form of competitive and targeted financing is revealed. It is proved that the results-based approach to the organization of financing also reduces the risks of macroeconomic inefficiency and contributes to reducing the information asymmetry. The obligatory presence of the state in the organization of research funding in higher education institutions is justified due to the positive impact of research on educational services quality and increases their value for an individual and society. The paper considers options for market-oriented higher education financing and the state's demands in terms of the concept of management, public and private funding methods, the education fee. It is established that the changing conditions of the market of educational services require a revision of targets for state funding due to the following factors: increased number of foreign students, use of information and communication technologies, increase in the integration of higher education institutions nationally and internationally. Key words: higher education institution, higher agricultural education, concepts of higher education institution management, methods of free economic education financing, sources of higher education institutions financing.

Global Perspectives on Financing Higher Education: A Comparative Analysis

“…Shust, Hrynchuk, and Rybak (2021) emphasize the need for a rational balance of individual and social effects in HEI financing, achievable through a combination of market self-regulation and state regulation. This model often aims to ensure accessibility and equity in higher education (Shust et al, 2021).…”

“…Public Funding Model: Generally enhances access as it often leads to lower tuition costs, making higher education more accessible to a broader demographic. Public funding is crucial in countries prioritizing higher educational accessibility (Shust et al, 2021).…”

“…Public Funding Model: Typically promotes equity by providing education opportunities regardless of socioeconomic background (Shust et al, 2021).…”