Financing From Demand-Side in Education
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Abstract
The belief in the importance of education on economic and social development has resulted in the education expenses being largely covered by the public budget. Countries' approaches to financing education services may vary depending on the tendency to see the education as mixed, complete or private goods and the policies they follow in this direction. In order to fully meet the demands for education, it is of great importance that the available financial resources are spent on the basis of effectively and accountability, as well as the ratio of the financial resources allocated for education. The failure in education is largely attributed to the lack of funding. However, this failure is largely ignored because of the poor use of existing financing, as well as the inadequacy of funding resources. It is an important issue to observe the measures of equality and equity in the distribution of resources related to education and of efficiency and accountability in their spending. Demand-side financing approach in education includes the issues of the freedom of school choice as part of initiating inter-school competitions, giving the ‘Education Cheque’ or the ‘Education Voucher’ to student parents and their submitting this cheque or voucher to the board of the school where school stakeholders are also included and where they send their children, within the framework of a protocol, instead of spending the determined money considering the free market conditions or transferring it directly via the education center or district units to the school account for each student studying at each school level. The purpose of this study is to create awareness among education stakeholders and researchers such as decision-makers, managers and teachers regarding the education in by examining the approaches of ‘Demand-Side Financing’ which is based on parents/ customers' initiative in the use of financial resources allocated from the general budget for education.
Key words: Demand-side financing, education financing, financing
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