FINANCIAL PLANNING IN HIGHER EDUCATION: INSIGHTS FROM INTERNATIONAL PRACTICES

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Abstract

In recent years, the financing of higher education has undergone significant transformations, influenced by shifting economic policies and the increasing demand for educational services. This article examines the evolution of financial planning in higher education institutions (HEIs) worldwide, highlighting the interplay between public and private funding sources. It explores various financing models adopted by countries, particularly focusing on the roles of government and private sector contributions. Comparative case studies from the United States, Germany, and the United Kingdom illustrate the diverse strategies employed to ensure access, quality, and sustainability in higher education. The article concludes with key lessons for HEIs aiming to navigate financial challenges and achieve long-term growth, emphasizing the importance of strategic financial planning, revenue diversification, and institutional autonomy.

Keywords:

higher Education Financing Financial Planning Public Funding Private Sector Contributions Tuition Fees OECD Countries Funding Models Institutional Autonomy Revenue Diversification Strategic Financial Management Global Education Trends Sustainable Development in Education Case Studies in Higher Education Charitable Foundations Student Loans Endowments Financial Sustainability

References

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Cunningham, S., et al. (2019). Financial accountability and transparency in higher education: Lessons from international experiences. Higher Education Quarterly, 73(1), 5-22.

Lesia Leshanych, Iryna Miahkykh, Mariana Shkoda (2018) Models of financing of higher education institutions in foreign countries, Baltic Journal of Economic Studies, Vol. 4, No. 5.

Smith, J., & Brown, A. (2024). The evolution of financial planning in higher education institutions: A comparative analysis. Journal of Higher Education Finance, 45(2), 123-145.

Tetiana H. Zatonatska, Oleksandr D. Rozhko, Igor O. Lyutyy, Nataliia V. Tkachenko, Olga Y. Anisimova, (2019) Global Practices of Higher Education Financing: Approaches and Models, Khazar Journal of Humanities and Social Sciences Volume 22 № 4, 95-112.

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FINANCIAL PLANNING IN HIGHER EDUCATION: INSIGHTS FROM INTERNATIONAL PRACTICES. (2024). Economic Development and Analysis, 2(10), 281-285. https://doi.org/10.60078/2992-877X-2024-vol2-iss10-pp281-285