Abstract
Education has only recently received development finances from the international donor community. This change has been more or less concurrent with the ‘human investment revolution in economic thought’ initiated by Theodore Schultz. This paper surveys the shifting trends in educational aid, its problems and prospects. It discusses three divergent views held in developing countries: (a) that aid is beneficial to their educational development, (b) that it helps only the donor country, and (c) that despite negative experiences it has the potential of helping the recipient. The article begins by describing the complex international donor community, attempts in section 2 to answer the question why aid should be given to education in preference to other sectors, in section 3 considers trends in the growth of educational aid, and in section 4 the overall impact of aid on educational development, and concludes with some general observations on improving the effects of foreign aid on education.
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