The financing of higher education is undergoing great change in many countries around the world. In recent years many countries are moving from a system where the costs of funding higher education are shouldered primarily by taxpayers, through government subsidies, to one where students pay a larger share of the costs. There are a number of factors driving these trends, including:

1. A push for massification of higher education, in the recognition that additional revenue streams are required above and beyond those funds available from governments in order to achieve higher...