Opportunities and Ways to Improve Tertiary Education Funding of Mongolia

Abstract

The education sector in any country is evolved depending on the rapid development of society, economy, and information technology. Even the legal basis of education is composed well, capital issue, which is the main dynamic of everything, hasn’t been succeeded by the institutes and universities; the government hasn’t given any directions. The condition to develop the science will be composed by making the way to raise capital. Education funding should be viewed systematically. This is because 68% -70% of the expenditures financed from the state budget are spent on recurrent expenditures. It is understood that the money should be spent on curricula, teachers’ salaries, and social issues, not on recurrent expenditures. Establishing an Endowment fund is one way to solve this issue. There is a way to introduce an endowment fund to our country by doing research about the experience of institutions and universities of foreign countries localizing it.