FINANCING EDUCATION

Presented by:

Ms. Reve Faith F. Bagas

FINANCING EDUCATIONA. Prioritizing Education

B. Increasing Cost of Education

Financing Education: An Overview

• In all countries, a large portion of national resources, both public and private, are devoted to education. The rationale sustaining this fact is compelling. A quality education, beginning with primary education, is fundamental to endow individuals with the capacity to successfully pursue their private goals, while at the same time equipping them with the knowledge and skills, as well as the values and attitudes, necessary to contribute effectively to the economic, social and political development of their societies.

Sources of Education Finance

•Public finance•Private sources of finance•International sources

Sources of Education Finance •Public Finance

they represent the bulk of national educational expenditure

Private sources of finance

they represent on average, close to 20 % of total National Educational

Finance.

International sources

•loans•scholarships

A. Prioritizing Education• We all know the extent of importance of

education to any country, and with no exemption to the Philippines. Reason why K12 was created due to the call for a change in our educational system that justifies the fact that the government is taking it seriously.

THE EDUCATION FOR ALL (EFA) 2015 : An initiative of the government

General Introduction1.Filipinos have deep regard to

education2. A clear evidence of the value

placed on education is the proportion of the national government budget going to the sector.

3.The 1987 Constitution likewise guarantees the right to education of every Filipino

4.The right of every Filipino to quality basic education is further emphasized in Republic Act 9155 or the Governance of Basic Education Act of 2001.

5.Along with “Education for All”, the Philippines is also committed to pursue eight time- bound and specific targets under the Millennium Declaration which it signed on September 2000.

Top Benefeciaries of 2015 BudgetThe following amounts have been allocated to the following departments:

• Education – P367.1 billion, up 18.6% from 2014• Public Works and Highways – P303.2 billion, up 37.9% from 2014• National Defense – P144.5 billion, up 17.3% from 2014• Interior and Local Government – P141.4 billion, up 3.8% from 2014• Health – P108.2 billion, up 19.2% from 2014• Social Welfare and Development – P103.9 billion, up 24.6% from

2014• Agriculture – P89.1 billion, up 11.4% from 2014• Transportation and Communications – P59.5 billion, up 21.7% from

2014• Environment and Natural Resources – P21.5 billion, down 10% from

2014• Science and Technology – P17.8 billion, up 35.9% from 2014

B. Increasing Cost of Education

• Campuses had to expand to meet the new demand.

• That dramatic increase occurred

• Public universities increased their tuition,

• Universities competed for prominent faculty by offering larger salaries.

• In addition, it is so sad that nobody has yet figured out a way to run a university using drastically fewer professors without sacrificing some educational quality .