n IFE PsychologIA : An International Journal - An insight into budgeting : the funding and cost recovery of tertiary education in Ghana
|Article Title||An insight into budgeting : the funding and cost recovery of tertiary education in Ghana|
|© Publisher:||IFE Centre for Psychological Studies (ICPS)|
|Journal||IFE PsychologIA : An International Journal|
|Publication Date||Sep 2002|
|Pages||162 - 181|
Over the 1970's and 1980's the tertiary education sector was in deplorable state in terms of financial provision and physical infrastructure and in the relationship between tertiary institutions and government. In order to resuscitate the tertiary education in the country, government decided to introduce reforms in the sector. It is however, evident that many of the government proposals for tertiary education continue to be met from central government budget. Cost recovery and income generations from services provided by the tertiary institutions are still very initial. Among others, government funding to the running of tertiary institutions is still very low, thus making it difficult for almost impossible for tertiary institutions to carry out the tenets of the reforms, such as the revival of research and upgrading of staff. This situation has worsened the access to and quality of tertiary institutions in the country. <br>Three sources were used for the survey data collection; Interviews, Focus Group Discussions (FGD) and official statistics/records from the tertiary institutions, the Ministry of Education, the National Council for Tertiary Education and the World Bank. <br>The general objective of the study was to assess on the ground, the Budgeting, Funding and Cost Recovery of Tertiary Education in Ghana. <br>The study proved among other factors that, delay in fee payment, inadequacy of government subvention and delay in the release of government's subvention stood out as the major problems faced by tertiary institutions in fund mobilization. The study further revealed that Institutions' financial support for students was woefully inadequate. Students' fee payment was also identified as the main modality for cost recovery of tertiary education. <br>It was recommended that communities and industries should be made to make meaningful contributions towards tertiary education in the country. The students loan scheme was also found to be poorly managed, hence the need to appraise the Social Security and National Insurance Trust (ssnit) loan scheme for students to make the scheme sustainable.
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