Funding sources for the proposed innovation universities
January 10th, 2010
Following is an excerpt from a PTI report on this.
Sibal said the government wants to set up 14 innovation universities on various themes and these institutions will earn revenue from various areas, including research.
Brown, however, differed from Sibal on the proposed economic model for the Innovation Universities and said that major funding will have to come from tuition fee.
"This is not going to work. In our university, 50 percent of revenue comes from tuition fee despite the university having a billion dollar of Endowment fund. The universities here will have to depend on tuition fee," he said.
Sibal retorted back, saying that the investment involved in setting a university in India will be less than the cost in the US.
He said institutes should not be charge exorbitantly on students. They can generate revenue from other sources.
The government will set up a Higher Education Finance Corporation to provide funding to poor students for study. The students can pay back the money over a period of time, he said. The HRD Ministry has prepared a bill to set up the corporation.
The loans will be made available for students pursuing professional courses, he said.
He said institutes should not be charge exorbitantly on students. They can generate revenue from other sources. I am a bit confused about the innovation universities being on various themes. I thought they were supposed to be multi-dsiciplinary universities aiming to become like Oxford, Cambridge and Berkely.
Entry Filed under: Bhubaneswar-Cuttack-Puri- Khurda area (1),Universities of Innovation,University of Innovation Bhubaneswar