The Great Funds Chase

A 360' Perspective on Issues that Affect Financing of Higher Education

The All India Council for Technical Education (AICTE) debarred some institutes from admitting students in 2014. Additionally, the Shikshan Shulka Samiti (SSS) issued notices to several colleges regarding the fees these institutions charged. Many of these institutions were accused of charging more than the sanctioned fees (fees approved by the SSS).

Financing of higher education in India is the key theme today. On the one hand is the inability of a vast majority of Indians to self-finance their higher education due to rising costs, and on the other, is the inability of the government to finance or even part finance the education.

Broadly defined, the term “higher education” in the Indian context covers the entire spectrum of education beyond 12 years of formal schooling. Generally, it comprises three levels of qualification: bachelor or undergraduate degree programmes, masters or postgraduate degree programmes, and the pre- doctoral and doctoral programmes.

India has established a huge complex system of higher education. The higher education system is mostly based on the system of affiliation wherein a university develops the programmes, conducts the exams and publishes the results whereas the colleges affiliated/associated with the university acts as a teaching institute whose sole job is to impart teaching or knowledge or other skills.

The correlation between economic development and the development of higher education is of paramount importance to the economic and social development of any country. To a large extent, the success of the Indian economic system is also dependent on the complex educational system which provides for useful and usable skills.

There are many critical issues that affect the financing of higher education. DR. RAMAMIRTHAM GOPAL provides a 360-degree perspective.

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