Advertisement

Shifts in the Financing of Higher Education

  • P. Geetha Rani
Chapter

Abstract

The increasing role and share of education loans in financing higher education tend to strengthen the nexus between expansion and deepening of the private sector in higher education and privatization of public higher education. It is however unambiguous that reduction in state finances led to a surge in private sector expansion which led to increasing education loans. Expansion in private higher education is pronounced in the market-oriented courses – the same trend getting reflected in the course choice of students who took education loans. Market orientation is reflected in course choices and thereby leading to higher education loans. However, such multiple yet parallel changes led to a structural shift in both the provision and financing of higher education. This indicates that market and state resources are being substituted. Though, there has been a reassertion that the private sector can play a vital role only in supplementing the government’s efforts, yet the trends indicate otherwise.

Keywords

Student loan Household expenditure Market 

References

  1. Abramovitz, M. (1986). Catching up, forging ahead and falling behind. Journal of Economics History, 46, 385–406.CrossRefGoogle Scholar
  2. Agarwal, P. (2009). Indian higher education: Envisioning the future. New Delhi: Sage Publications.CrossRefGoogle Scholar
  3. Chapman, B. (2006). Government managing risk: Income contingent loans for social and economic progress. London: RoutledgeGoogle Scholar
  4. Forsyth, A., & Furlong, A. (2003). Losing out? Socioeconomic disadvantage and experience in further and higher education. London: The Policy Press.Google Scholar
  5. Geetha Rani, P. (2007). Transforming role of state and market: Privatization and private sector in higher education in India. In Madras Institute of Development Studies (Ed.), Transformation, transition or stagnation.Google Scholar
  6. Geetha Rani, P. (2015, December 7–13). Interstate disparities in interest subsidies on education loans in India; why and how does it persist? University News, 53(48), 74–85.Google Scholar
  7. Geetha Rani, P. (2016). Financing higher education and education loans in India: Trends and troubles. Journal of Social Sciences, 12(4), 182–200.CrossRefGoogle Scholar
  8. Geetha Rani, P. (2017). Financing higher education and education loans in India: Interstate differentials and determinants. Journal of Social and Economic Development 19(1), 42–59Google Scholar
  9. Geetha Rani, P. (2019). Targeted interest subsidy on education loans in India: Can income criteria ensure equity? The Indian Economic Journal, 63(3), 529–557.CrossRefGoogle Scholar
  10. Gerschenkron, A. (1952). Economic backwardness in historical perspective. In B. E. Hoslitz (Ed.), The progress of underdeveloped areas. Chicago: University of Chicago Press.Google Scholar
  11. Mincer, J. (1974). Schooling, experience and earnings. New York: NBER.Google Scholar
  12. NSSO. (2003a). Unorganised service sector in India 2001-02, salient features, Report No.482, NSS 57th Round. Government of India.Google Scholar
  13. NSSO. (2003b). Unorganised service sector in India 2001-02, characteristics of enterprises, Report, No. 483, NSS 57th Round. Government of India.Google Scholar
  14. NSSO. (2006). Status of education and vocational training in India, 2004-05, NSS 61st Round, (July 2004–June 2005). National Sample Survey Organisation, MoSPI, Government of India.Google Scholar
  15. NSSO. (2010). Education in India: 2007-08, participation and expenditure, NSS 64th Round, (July 2007–June 2008). National Sample Survey Organization, MoSPI, Government of India.Google Scholar
  16. NSSO. (2016). Education in India, NSS 71st Round, January–June, 2014. National Sample Survey Organization, Ministry of Statistics and Program Implementation, Government of India.Google Scholar
  17. Schultz, T. W. (1961). Investment in human capital. American Economic Review, LI(March), 1–17.Google Scholar
  18. Tilak, J. G. (2004). Public subsidies on education in India. Economic and Political Weekly, 343–359.Google Scholar

Copyright information

© Springer Nature Singapore Pte Ltd. 2019

Authors and Affiliations

  • P. Geetha Rani
    • 1
  1. 1.National Institute of Educational Planning and AdministrationNew DelhiIndia

Personalised recommendations