ALTERNATIVE APPROACHES OF FINANCING EDUCATION: A REVIEW

Abstract

Existing finance in education is not being sufficient for providing quality education in Nepal. So, there is a need to explore alternative approaches for financing education. This paper aims to explore the approaches of alternative financing in education. For achieving this purpose, the researcher reviewed and analyzed several works of literature pertaining to this study. The researcher identified innovative financing, knowledge economy, and allocative efficiency as the alternative approaches to financing education. Moreover, the adoption of alternative approaches supports public financing in education by reducing the huge public spending in the educational sector.