Various factors of politics, economy and regulatory developments do have an impact on institutions of higher learning. Most issues are above the control of the national higher education community and the individual institutions. In response to these changes, institution budgeters must respond accordingly to the anticipatory changes in political and economic conditions that may have an effect on the amount of revenue that is available. In addition, of equal importance, they must put into consideration the pressures that are being exerted by the external forces on the institution of higher learning before its survival is put in jeopardy.
Institutions dealing with higher education are stable partly due to the mission and role that they have in the society and the way they are operated their activities and management. Despite this, the current financial issues in various ways are affecting the institutions of higher learning (Solt 2008, pp.48–60).
Economic changes have significantly affected the higher institutions of learning since the beginning of 1990’s. In respect to this, changes seen in the national government support for higher education have been accompanying the turmoil of the economy. Today, the institutions of higher learning are no longer enjoying the high ranking that they used to on the societal agendas, local, state and national talks. Resources that were previously directed to higher education are captured by other sectors of the government. ...Show more