Universities Are Becoming Increasingly Expensive To Operate. What Are Some Ways Universities Could Be Funded In Future? | Band 7 IELTS Essay Sample
Universities are becoming increasingly expensive to operate. In some countries, money from taxation has met these costs. However, this is not always enough to maintain the quality of universities. What are some ways universities could be funded in future?
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Band 7 IELTS essay sample
Typically, a portion of tax is allocated to support universities, which is predicted to be unsustainable as the cost of higher education has been increasing constantly. This essay will discuss how higher education will be financed.
To begin with, private support can potentially become a colleges’ financial source. For example, organisations, or wealthy people may provide funds to universities as a way of contributing to the community. Besides, they can offer scholarships, which will not only attract talents, market their brands cleverly, but also turn into tuition revenues. In other words, private finance is a viable solution to be proposed as it benefits all supporters, students, and schools.
The second possible fund is by reinvesting the universities’ infrastructures. This means some of their estate can be leased to the public. External parties, for instance, rent classrooms, auditorium to conduct courses or events. Or the dormitory may become a hostel for tourists during school holidays. Likewise, for some fees their libraries, gyms, or swimming pools should offer membership to alumni and visitors. Another way of fundraising is to attract more international students, who pay more tuition fees than domestic students. Tuition paid by students represents a large share of the funding pie for tertiary education.
Lastly, a sizeable proportion of expenditures goes towards employee’s compensation, which can be reduced by putting into alternatives. Take robots as an example. A robotic camera can be deployed to take on the workload of a security officer, or an automatic vacuum robot can do part of the housekeeper’s job.
In conclusion, it is projected that graduate education will receive funding from a diverse range of ways such as private and oversea students. Additionally, the institutions should look into monetizing their properties, and cutting operational costs.
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