Financing Private Higher Education in Africa

Education is noted as pivotal in the quest of developing countries to attain economic independence. However, a major problem which seems to derail this goal is the lack of financing. This has resulted in inadequate personnel, educational institutions, infrastructure and materials, as well as the migration of current and potential students to other developed nations. To help curb this problem, private higher educational institutions have been warmly welcomed and this has led to the setting up of many of such institutions, notably those that are operated by denominational/non-denominational religious bodies. This notwithstanding, financing of education in such institutions is still problematic. The research investigated into the various forms of financing existing in some private higher educational institutions in Ghana (denominational/non-denominational). In addition, alternative forms of financing that could be employed to ensure the survival of private higher education were identified. This research work will be of immense help to students, investors and researchers interested in private higher educational financing.