The role and criteria of public financing of higher education

Abstract

This article considers the process of public funding of higher education with the account of international experience. Theoretically, the content of higher education is considered. Public and personal benefits in higher education determine it as a quasipublic good. World practice testifies to state financing of higher education. In the countries of the world, the state fully or partially finances higher education. The determining factor in human capital is higher education. State grants for higher education are in the form of vouchers and are applied on the principle of "money followed by the student." But there is a peculiarity of the implementation of the principle, which consists in securing the state educational grant to the institution of higher education chosen by the еnrollee. At the same time, social risks and burdens including psychological, stressful on enrollee were identified that necessitate a “reset” of the State Grants Program and the education system as a whole after COVID 19. In education, the necessity of changing the course from memorizing academic knowledge to the logic of thinking, acquiring professional competencies. Relatively low results of participation of Kazakhstanis in international comparative studies PISA, PIAAC, ICILS are presented. The relatively low level of education of Kazakhstani youth is systemic in nature. State funding of higher education is primarily desirable for secondary school graduates from low-income families.