Monday, September 30, 2019

Funding Higher Education Essay

In order to address budget requirements during revenue deficit years, other opportunities are available to the government other than simply raising taxes. One viable opportunity is opening research facilities in higher education to private use. Higher education institutions have various wet and dry laboratories that can be very useful to commercial and other private business entities conducting research. Some of these entities usually enter contracts with private laboratories. By opening school resources, government would be able to tap the finances of these private entities into the schools. In fact, the government can take this strategy one step further by constructing an internship curriculum for its students that involve working on private company projects (Gordon, 2000). Through such an internship program, qualified students would be sent to work in school facilities on research work required by funding entities. Of course, interns would be given an appropriate allowance. This provides an innovative and practical learning experience for the students as well as a minimal source of income. Furthermore, it creates linkages to the industry where they might be able to more conveniently find employment after graduation. Another possible strategy is opening campus grounds to private promotional projects. These projects set up booths and conduct activities that target the attention of students and/or faculty members to avail of certain products or services. Of course, entities that would like to promote their products would have to be screened thoroughly according to the academic institution’s mission-vision to ensure that no contradictions are present. These two strategies can raise revenue up to appropriate levels and allow the school budget to be funded for the revenue deficit academic year. Reference Gordon, J. (2000). Private Education Management. N. Y. : Doubleday.

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