Funding of Ukrainian universities: Current situation and possible ways of its solution

Abstract

The article provides a comparative analysis of Ukrainian education funding and funding education of some developed countries. The relationship between the financing of education and GDP is shown in article. It proved the importance of higher education in economic development of the country. However, despite the importance of higher education, Ukrainian universities have significant difficulties. Three groups of the challenges are discovered that are faced today Ukrainian universities. All groups of problems mentioned above, which the higher educational institutions deal with, cause the worsening of their financial situation and result in the disadvantage of the national science and education. Expenditures on education and science are offered viewed as an investment in human capital and the country's economy. Such investments in the sphere of education have proved to be correct, because the reversible effect is seen. These are those countries, which are the leaders in the amount of GDP in the world. That is, the investments in education are justified for both the country and the individual. So, the system of higher education is very important for future economic development of Ukraine. But it doesn't have enough financial resources for successful existence. All this results in looking for the intensive means of financial support of the higher educational institutions, the most important of which can be financial diversification and broadening of the institution autonomy.