As an alternative demand-side financing mechanism in higher educaion: Education voucher practices

Since the second half of the twentieth century, with the onset of globalization and transition to knowledge-based society in numerous countries around the world, a remarkable increasing individual demand had been experienced for the higher education services. Within this period state and private sectors actors have started to develop new political and financial methods in order to finance the needs of constantly growing demand for higher education. As a result, education vouchers, in practice, has taken place as an alternative financing method in higher education sector and other educational fields so as to establish the balance between demand and supply. In this study, education vouchers is discussed as an alternative demand-side financing mechanism in the financing of higher education. In this study, it is showed that mechanisms applied in the financing of higher education across the globe; and also discussed voucher types which is applied in the financing of public goods and services and showed how education vouchers are implemented in some countries around the world; investigated the main trends in the Turkish higher education sector and education vouchers which is the main subject of the study are recommended as an alternative demand-side financing mechanism for Turkish higher education sector. As a result, it is revealed that education vouchers can be applied as an alternative demand-side financing mechanism in the financing of Turkish higher education. Key Words: Higher Education Financing, Financing Mechanisms in Higher Education,Vouchers, Education Vouchers