The following discussion will focus on the future of education finance.

Introduction

Education is said to be the backbone of success especially in this century. To reach the actualization level of achievement, the society has emphasized that the only way is through academic qualification. For that reason, education is becoming very competitive while other structures supporting it remain relatively the same. However, due to the high cost of education, majority of people in the society can not afford it, prompting the government intervention. The following discussion will focus on the future of education finance.

According to Emile Durkheim education is one of the ways through which values are passed to the society. The aim of this is to eliminate all the irrational beliefs in order to create a society which is governed by logicality. He believed that education enhances social harmony and solidarity due to homogeneity of beliefs and values.

However, since education can not be afforded by everyone due to high costs involved, the government has been working hard to support that course (Brandon, 2003). This has not however gone without a lot of strains due to the limited funds provided by the government. The number of the government sponsored students has been increasing significantly every calling and analysts say that this is a worrying trend.

All the amount of funding the education comes from the taxes that people are charged on their income. To reduce the discrepancy of the increased cost of education and the low funds, it is thought that in the next ten years the net income of individuals will continue to reduce (Azzarello, 2005).This is because the government will be expected to raise the income taxes as a way of supplementing the limited funding of the education.

Apart from the about probability, the cost of living is also expected to be on the rise (Rieck, 2005).This is due to the indirect taxes that are charged on the consumer goods as a way of increasing the government revenue. If this is not done, a sociologist Durkheim sees a problem rising due to the incompatibility with other social institution such as the economic one. According to him, all the social structures are dependent on each other and it is therefore the work of those in authority to ensure that they are in a state of equilibrium. For instance, the state of economy should dictate how much the government will disburse in its efforts to support the course of education. On the other hand, the constant increase in the number of students will culminate in the expected rise in the number of teachers. This will therefore be increasing the cost of education further calling for drastic measures to be taken.

Some countries in the world have been facing stiff challenges of financing education. This is owing to the current deterioration of the economy. Since education is a right of every child, the governments must device alternative ways which will enable them acquire the funds. It is therefore expected that the cost of luxurious goods such as vehicles, electronics, cigarettes and alcohol will be on the increase in the coming decade. The amount is aimed to purchase all the materials needed by the students while at the same time paying their tuition fee.

In conclusion, the fate of future educational support is expected to be a bleak one if necessary measures are not incorporated toward raising extra funds. It is expected that in the next ten years, the level of direct and indirect taxes shall increase for the purpose of maintaining the balance between economic state and education support.

References

Azzarello, L. (2005) State Budget Management Analyst, Division of Administration, Louisiana Office of Planning and Budget.

Brandon, N. (2003). Finding the Funds: Opportunities for Early Care and Education Seattle: Human Services Policy Center.

Rieck, M. (2005). Pre-K Program Manager, Bright from the Start, Georgia Department of Early Care and Education.