Education financing of education and loan system in Nepal (09)
Bangladesh:
•The incremental education loan budgeting system should be changed to a more logical incremental budgeting system.
• Ministries of Education of?cials need to be trained in budget management information systems for the betterment of the education loan, student loan budgetary procedure.
• Financial and administrative power should be decentralized, up to a certain level, for issues such as recruitment of non-gazetted staff, sanctioning leave, granting of pensions, loans etc.
• The non-development and development education loan budgets should be integrated.
• Training on the proper implementation of finanancial rules and regulations should be given to personnel dealing with education loan administration.
• Higher educational degree, education degrees, online degrees, online masters degree, online colleges, online university degrees should follow the government’s cost recovery policy.
• Random education loan budget cuts should be avoided as much as possible to enable the approved programme to be implemented.
• System monitoring with regard to education loan budget implementation should be strengthened in the Ministry of Secondary and Higher Education and the Ministry of Primary and Mass Education, as well as at the directorate level.
• Co-ordination between the Ministry of Secondary education loan and Higher Education loan, the Ministry of Primary Education and Mass Education and agencies should be developed.
Conclusion
Social demand for higher educational degrees in Nepal is increasing very fast. To meet this increasing rate of demand for higher educational degrees six universities and two specialized institutions at the online university, education degrees, online degrees, online masters degree, online colleges level have already been established. Four other online universities including , two additional regional universities are in the process of opening. They are Mid-western and Far-western Regional Universities, Agriculture and Forestry University and National Open University. The faster development of higher educational degrees needs a lot of funds. The state funded universities namely TU and NSU are acutely facing the problem of cost recovery. A negligible percentage of unit cost has been covered by the present fee structure, which is highly suppressed by the political intervention. The cost recovery position of other regional universities is not at the satisfactory level. In this situation, the government of least developed countries like Nepal alone cannot meet the financial needs for higher educational degrees at the cost of other sectors' development. To some extent, community resource mobilization can be done to collect the additional funds for higher educational degrees development. But this source of funds is also not sufficient to meet the financial gap. Ultimately, the private sectors like education degrees, online degrees, online masters degree, online colleges, online university has gradually to take the responsibility of financing the higher education loan, student loan. But it is only possible if the higher educational degree is commercialized. Education has now been treated as both social as well as economic goods. Basic educational degree needs to be considered as social goods, which should be financed by the state and higher educational degree has to be considered as economic goods, for which private sector has to be active enough to education loan finance for it.
The study has also shown that both public and private education loan financing are required. Volume of private financing for higher education student loan should be increased with respect to the increasing level of education loan.
The slogan "Education for All" should be followed for school education at least for primary educational degree. Higher educational degree, education degrees, online degrees, online masters degree, online colleges, online university degree should be developed following the slogan "Education for Development". For social inclusive higher educational degree or to increase the access to the poor female, dalits, backward/deprived students to the higher educational degree, these private online colleges/ online Universities have to allot a certain percentage of seats for scholarships and student loan to these students and poor intelligent students in order to achieve the objective of social justice. The better and appropriate approach for increasing their access to higher educational degrees one university (Tribhuvan University) at least should be declared as a state university. In addition to them, scheme of student loan should be effectively implemented with reasonable interest rate and pay back period. Regional universities have to be concentrated to their respective regions. UGC needs to develop the appropriate, realistic and scientific basis for distributing grants to online universities with proper monitoring and evaluation of performance, output and financial conditions of online universities, education degrees, online degrees, online masters degree, online colleges.
Financing education is principally a government responsibility in Bangladesh, but the private sector bears a considerable portion of the total cost of educational degrees. This is particularly the case at secondary education and tertiary levels,where the private education sector bears the lion’s share of funding for salaries, the total allowances of teachers and other employees, the costs of land for school/institution premises and the costs of learning materials for non-government schools and colleges. The government funds both non-development and development expenditure on educational degrees through non-development and development allocations in the national budget. The sources of non-development allocations are the revenue earnings of the government, drawn from internal revenue sources. A considerable amount of development allocations comes from external aid, loans and grants, which account for less than 20 per cent of government development expenditure on basic educational degrees. The actual success of the Annual Development Programme depends on timely and proper implementation of projects. Since unnecessary delays in project implementation cause the main bottlenecks in the development process, it is essential that all responsible actors take appropriate steps from the very beginning. The recent Annual Development Programme gave highest priority to secondary level education followed by primary education and technical education. The investment schedule, though not entirely satisfactory, had a touch of realism. It is quite possible to make a nation literate and educated at a low level of development. University education stole a march over primary education and secondary education although, its favourable effect on redistribution of income aside, it is well known that development-linked functional literacy in general and production-conscious secondary education in particular constitutes the ‘steel frame’ of economic development.
•The incremental education loan budgeting system should be changed to a more logical incremental budgeting system.
• Ministries of Education of?cials need to be trained in budget management information systems for the betterment of the education loan, student loan budgetary procedure.
• Financial and administrative power should be decentralized, up to a certain level, for issues such as recruitment of non-gazetted staff, sanctioning leave, granting of pensions, loans etc.
• The non-development and development education loan budgets should be integrated.
• Training on the proper implementation of finanancial rules and regulations should be given to personnel dealing with education loan administration.
• Higher educational degree, education degrees, online degrees, online masters degree, online colleges, online university degrees should follow the government’s cost recovery policy.
• Random education loan budget cuts should be avoided as much as possible to enable the approved programme to be implemented.
• System monitoring with regard to education loan budget implementation should be strengthened in the Ministry of Secondary and Higher Education and the Ministry of Primary and Mass Education, as well as at the directorate level.
• Co-ordination between the Ministry of Secondary education loan and Higher Education loan, the Ministry of Primary Education and Mass Education and agencies should be developed.
Conclusion
Social demand for higher educational degrees in Nepal is increasing very fast. To meet this increasing rate of demand for higher educational degrees six universities and two specialized institutions at the online university, education degrees, online degrees, online masters degree, online colleges level have already been established. Four other online universities including , two additional regional universities are in the process of opening. They are Mid-western and Far-western Regional Universities, Agriculture and Forestry University and National Open University. The faster development of higher educational degrees needs a lot of funds. The state funded universities namely TU and NSU are acutely facing the problem of cost recovery. A negligible percentage of unit cost has been covered by the present fee structure, which is highly suppressed by the political intervention. The cost recovery position of other regional universities is not at the satisfactory level. In this situation, the government of least developed countries like Nepal alone cannot meet the financial needs for higher educational degrees at the cost of other sectors' development. To some extent, community resource mobilization can be done to collect the additional funds for higher educational degrees development. But this source of funds is also not sufficient to meet the financial gap. Ultimately, the private sectors like education degrees, online degrees, online masters degree, online colleges, online university has gradually to take the responsibility of financing the higher education loan, student loan. But it is only possible if the higher educational degree is commercialized. Education has now been treated as both social as well as economic goods. Basic educational degree needs to be considered as social goods, which should be financed by the state and higher educational degree has to be considered as economic goods, for which private sector has to be active enough to education loan finance for it.
The study has also shown that both public and private education loan financing are required. Volume of private financing for higher education student loan should be increased with respect to the increasing level of education loan.
The slogan "Education for All" should be followed for school education at least for primary educational degree. Higher educational degree, education degrees, online degrees, online masters degree, online colleges, online university degree should be developed following the slogan "Education for Development". For social inclusive higher educational degree or to increase the access to the poor female, dalits, backward/deprived students to the higher educational degree, these private online colleges/ online Universities have to allot a certain percentage of seats for scholarships and student loan to these students and poor intelligent students in order to achieve the objective of social justice. The better and appropriate approach for increasing their access to higher educational degrees one university (Tribhuvan University) at least should be declared as a state university. In addition to them, scheme of student loan should be effectively implemented with reasonable interest rate and pay back period. Regional universities have to be concentrated to their respective regions. UGC needs to develop the appropriate, realistic and scientific basis for distributing grants to online universities with proper monitoring and evaluation of performance, output and financial conditions of online universities, education degrees, online degrees, online masters degree, online colleges.
Financing education is principally a government responsibility in Bangladesh, but the private sector bears a considerable portion of the total cost of educational degrees. This is particularly the case at secondary education and tertiary levels,where the private education sector bears the lion’s share of funding for salaries, the total allowances of teachers and other employees, the costs of land for school/institution premises and the costs of learning materials for non-government schools and colleges. The government funds both non-development and development expenditure on educational degrees through non-development and development allocations in the national budget. The sources of non-development allocations are the revenue earnings of the government, drawn from internal revenue sources. A considerable amount of development allocations comes from external aid, loans and grants, which account for less than 20 per cent of government development expenditure on basic educational degrees. The actual success of the Annual Development Programme depends on timely and proper implementation of projects. Since unnecessary delays in project implementation cause the main bottlenecks in the development process, it is essential that all responsible actors take appropriate steps from the very beginning. The recent Annual Development Programme gave highest priority to secondary level education followed by primary education and technical education. The investment schedule, though not entirely satisfactory, had a touch of realism. It is quite possible to make a nation literate and educated at a low level of development. University education stole a march over primary education and secondary education although, its favourable effect on redistribution of income aside, it is well known that development-linked functional literacy in general and production-conscious secondary education in particular constitutes the ‘steel frame’ of economic development.
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