Abstract
Lack of reliable information about the characteristics of higher education and scientific research funding system in Serbia suggests the complexity of this issue. Such a situation makes it impossible to conduct a sound evaluation of the existing system solutions and to implement new ones. The article emphasizes the significance of education economics and offers an overview of sources of financing in different education systems for covering expenditures of higher education institutions. In EU countries, higher education finance policies have changed in the recent years. Having those changes in mind, the authors of the article analyse the modern trends in higher education funding, new sources of finance and higher education institutions' perception of the complexity of new sources of finance. The authors also provide an overview of certain characteristics of financing models and other specificities of higher education funding systems in Serbia and EU countries.
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