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MODELS OF FINANCING OF HIGHER EDUCATION INSTITUTIONS IN FOREIGN COUNTRIES

The aim of the article is to study the problems of reforming the system of financing higher education in conditions of compliance with world quality standards of education. Besides, another aim of the article is also to substantiate of the perspectives of their use in Ukraine, on the basis of analysis of the main foreign models of higher education institutions financing. The subject of the study is the financing model of institutions of higher education in foreign countries. Methodology. The research is based on a comparative analysis of funding systems for higher education institutions in Ukraine and in foreign countries. The advantages and disadvantages of different systems of the financial provision of higher education are determined based on the analysis of the peculiarities of financing higher education institutions in Germany, USA, UK, Sweden, Norway, and Australia and in some other countries. On the basis of a comparative legal research of certain provisions of Ukrainian legislation, the possibilities and limits of the application of positive foreign experience in this field are defined. The results of the study showed that the financing of higher education at the expense of state funds should be directed only to the needs of the state. And the state, in its turn, should provide graduates with jobs that will help reduce unemployment among them. Currently, there is a partial improvement of diversification of funding sources in Ukraine. We mean that the provision of the status of a non-profit organization will give the first impetus to the formation of contract relations between higher education institutions and private organizations and will improve their financial position. The implementation of the foreign experience will make financing more transparent and will give an opportunity to distribute it according to the quality criteria of providing educational services. Practical impact. Experience of the developed economies and the analysis of the existing condition of financing of educational institutions of Ukraine allow defining the priority directions of improvement of a system of financing of the higher education. As the budget of Ukraine is not able to compensate all needs for financial resources of higher educational institutions, it is necessary to encourage private investments into education, training, and high technologies more actively. Besides, conducting researches, the international consultations, modelling and discussion of the schematic diagram and funding mechanism for the higher education in Ukraine is also expedient. Correlation/originality. Conducting a comparative analysis of financing models of higher education institutions in Ukraine and foreign countries is the basis for developing the most promising directions for the development of domestic legislation in this field.