Footing the Bill: The Hard Choices for Financing University Education
Date
2022-04
Journal Title
Journal ISSN
Volume Title
Publisher
Caribbean Policy Research Institute (CAPRI), Kingston, Jamaica
Abstract
For The UWI to serve its purpose of supporting the inclusive development of the Caribbean region, there is a need to reform its financing. Despite decades of debate about this funding and numerous proposals, no consensus has ever been reached on which financing model would be best. In order for the university to be financially sustainable, an increase in funding from one or more of these three sources is necessary: the Caribbean governments increase their current share, alternative third-stream income is generated, or students pay a larger portion of the cost of their education. With a focus on Jamaica, this report assesses these funding sources, compares different tertiary education financing models, and based on international best practices as well as considerations of the Caribbean context, makes recommendations for a sustainable financing model for The University of the West Indies, that strengthens the quality of the university, increases participation rates, and improves educational equity.
Description
Lead Researcher: Saramaria Virri
Table of Contents
Keywords
financing university, tertiary education