Relationship between Education Financing and Human Capital Investment: a survey of Public secondary schools in Kimilili-Bungoma Sub- County

Abstract

The purpose of this study was to investigate the relationship between Education financing and human capital investment in Kimilili-Bungoma s ub-County. The objectives of the study were: To establish the performa nce of students who got public financing; to establish the performance of students who got private financing; to establish the performance o f students who got religious financing; to establish the challenges to financing education on human capital investment. The study was guided by the Human Capital theory. The study focused on the financing optio ns available for human capital investment. The secondary school level of education was studied as it has been discovered that middle level c ountries benefit most from this level as it is mainly knowledge base w hich is a requirement for attainment of skills at a higher level. Keny a hopes to become a middle level country by the year 2030. Improving t he quality and access to secondary education would be a pre-requisite to achieving this objective. The descriptive survey design was adopted , which enabled the researcher collect data from a wider area in a sho rt time. The study population constituted 20 secondary schools. All th e 20 secondary schools were studied because the number was small and m anageable. Questionnaires were used to collect data which was analyzed descriptively using measures of central tendencies. Correlation analy sis was used to determine the relationship between education financing and human capital investment. Analyzed data was presented in form of frequency diagrams and tables. The study revealed that private funding had the highest contribution to human capital investment in secondary schools compared to other forms of funding. The study also revealed t hat voluntary organizations contributed the least to human capital inv estment and their contribution was largely inadequate and lacking alto gether in some schools. The study recommended that the government shou ld continue to support secondary education through timely remittance o f funds and employment of teachers to realize increased human capital investment.