Innovative means of financing university education in the Kingdom of Saudi Arabia in the light of international experiences

Abstract

The study aims to identify the sources of funding for public universities in the Kingdom of Saudi Arabia, and to identify the most prominent international experiences in financing universities, and to suggest alternatives to financing education in Saudi public universities, and Imam Abdul Rahman bin Faisal University in particular. The study used the descriptive analytical method of what was included in the literature on financing higher education, and global experiences in this field, in addition to benefiting from the results and recommendations of the previous study on the subject of the study. The results of the study concluded that the funding sources of Saudi public universities are generally similar, represented in their annual allocations from the state budget, and fees for consulting contracts with government and private institutions, in addition to fees for educational and training programs. The results also showed that a number of universities approved plans to diversify their sources of income through scientific research chairs, endowments, and research centers, taking advantage of the pioneering experiences of British, German, and American universities. The study suggested several alternatives to fund Saudi universities, including: business incubators, partnership with private institutions to train graduates, financial and in-kind donations, expansion of research chairs and charitable endowments, in addition to rationalizing spending and optimal investment of university resources, and determining its priorities. The study recommended granting the university sufficient financial and administrative powers to invest its resources directly without being tied to complicated formal procedures, and encouraging applied research with sufficient financial returns. And the effective marketing of the university’s programs and activities, which contributes to obtaining financial sponsorship for companies, banks and factories with rewarding annual contracts. Activating the activities of the existing research chairs, increasing their numbers in universities, and employing charitable endowments resources to be major sources of funding for universities in the long term.