The future of higher education in RP

According to the latest study of the Institute for Development and Econometric Analysis (IDEA), "government officials and industry experts have been pushing for the rationalization of funds among public institutions such as State Universities & Colleges (SUC), given the lack of government funds. In 2003, SUCs served 30 percent of the student population. Analysts say that tuition fee in SUCs today are very low, thereby encouraging prolonged schooling of delinquent students. Moreover, students in SUCs are subsidized indiscriminately, regardless of economic background and academic performance" as per IDEA's report.

Finally, according to the same report, "many SUCs are plagued by duplication of program offerings, which limit optimization of resources. There are a total of 111 SUCs in the country as of 2005. Many from the public sector propose cutting this number to 10 so that the state is able to spread its funds better so as to achieve a more centralized administration and higher quality of education. The remaining institutions shall be converted to campuses or research centers. There are also moves to revise charters of SUCs in order to allow them to generate internal revenues independent of the government, such as selling of idle lands and signing into research contracts with private companies.

Higher education is critical in a developing country that boasts of workers having world-class skills and competence. This is also important in an economy that is starting to embrace the information age as its tool in combating social inequity and making the labor market efficiently work.

The prevailing high demand for higher education means that both the public and private sector can tap a lot of potential from the industry. The recent boom of nursing and IT schools means that there is space for innovation and competition as a tool for intra-industry growth.

The barriers to entry are low since government accreditation, hiring of faculty and equipment are the only main concerns. Location is no longer a major hindrance in setting up a school today, as seen by the ubiquity of nursing and IT schools.

Indeed, entrepreneurs can see a lot of possibilities by bringing these institutions to the rural areas. Moreover, the government can also intensify its campaign in encouraging parents to engage with reliable insurance or pre-need companies to alleviate costs and mitigate future financial problems.

With the increasing costs of education, it will be wise and helpful to the economy if parents are able to save for the college education of their children. In the future, we can expect more companies to venture in educational college plans and pre-need contracts, thereby aiding the government in financially assisting households.

Finally, as civil society groups, both local and international, become more embedded in the nation, more scholarships and research grants can be offered to fund studies of individuals and institutions".

Editor's Note: Mr. Ed F. Limtingco, is the VisMin Manager of CIBI Information, Inc., a business information and receivables management company. For credit & collection questions and inquiries, he can be reached at 0917-8309741 or email him at [email protected]