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Journal of Student Financial Aid

Journal of Student Financial Aid

Abstract

While higher education is generally a high priority in boosting economic development, public budgets to sustain expansion of higher education systems remain limited around the globe. This fiscal stress creates an impetus for governments to develop various strategies to meet the growing demand-from both students and society-for higher education services. This article explores worldwide trends to cope with this issue. It addresses policy developments aimed at increased efficiency in higher education, such as development towards institutional autonomy and performance-based funding. In addition, the article shows that the issue of cost-sharing is gaining worldwide importance. Students and their families are required to pay larger shares of educational costs, as demonstrated in tuition and student aid policies in many countries. Finally, the article explores how internationalization can help relieve fiscal stress.

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