Financing Private Universities in a Time of Declining Enrolments in Ghana

Richard Lionel Gorni, Eka Prihatin, Asep Suryana

Abstract


Ghana's private universities, essential to the nation's educational landscape, are grappling with financial challenges due to declining enrollment and rising educational costs. This confluence threatens the sustainability of these institutions, despite their vital role in expanding access to higher education. This paper examines the financial strains on private universities in Ghana. By analyzing existing research and data on educational costs and enrollment trends, the paper identifies key factors contributing to financial instability. High educational costs pose a significant barrier for many students, potentially limiting their ability to pursue higher education at private institutions. Universities also face financial constraints, struggling with limited resources to maintain quality education and infrastructure. The paper goes beyond problem identification to propose solutions through a two-pronged approach: internal university efforts and external support. Internally, universities can implement cost-containment measures to streamline operations and enhance financial efficiency. Additionally, developing innovative programs that meet current market demands can attract new students and generate revenue. Externally, government support and policy reforms are crucial for sustainability. Financial aid programs, tax breaks, and other supports can alleviate some financial burdens. Policy reforms addressing affordability and student loan options can make private universities more accessible, broadening their reach and impact.

Keywords


Private University Financing; Declining Enrollment; Ghana Higher Education; Sustainability Strategies

References


Abdul-Rahaman, N., Rongting, Z., Wan, M., Iddrisu, I., Rahaman, A. B. A., & Amadu, L. (2020). The impact of government funding on senior high enrolment in ghana. South African Journal of Education, 40(4), 1–10. https://doi.org/10.15700/saje.v40n4a1648

Aina, C., Baici, E., Casalone, G., & Pastore, F. (2022). The determinants of university dropout: A review of the socio-economic literature. Socio-Economic Planning Sciences, 79(June 2020), 101102. https://doi.org/10.1016/j.seps.2021.101102

Akplu, H. F. (2016). Private Participation in Higher Education in Sub- Experience. 20–22.

Alamri, H. A., Watson, S., & Watson, W. (2021). Learning Technology Models that Support Personalization within Blended Learning Environments in Higher Education. TechTrends, 65(1), 62–78. https://doi.org/10.1007/s11528-020-00530-3

Altbach, P. G., Reisberg, L., Rumbley, L. E., & Stephen, J. (2009). UNESCO 2009 World Conference on Higher Education. Unesco 2009, 0, 69.

Archibald, R. B., & Feldman, D. H. (2020). summeracademe.org.

Ayelazuno, J. A., & Aziabah, M. A. (2021). Leaving No One Behind in Ghana Through University Education Interrogating Spatial, Gender and Class Inequalities. January, 28.

Bekuni, B., Bingab, B., Forson, J. A., Abotsi, A. K., & Baah-ennumh, T. Y. (2018). governance in sub-Sahara Africa : the Ghanaian perspective. 32(4), 606–624. https://doi.org/10.1108/IJEM-02-2016-0039

Bilal, A., & Ahmed, H. M. (2017). Organizational Structure as a Determinant of Job Burnout. Workplace Health and Safety, 65(3), 118–128. https://doi.org/10.1177/2165079916662050

Brezis, E. S., & Hellier, J. (2018). Social mobility at the top and the higher education system. European Journal of Political Economy, 52, 36–54. https://doi.org/10.1016/j.ejpoleco.2017.04.005

Chen, H. Y., Das, A., & Ivanov, D. (2019). Building resilience and managing post-disruption supply chain recovery: Lessons from the information and communication technology industry. International Journal of Information Management, 49(July 2019), 330–342. https://doi.org/10.1016/j.ijinfomgt.2019.06.002

Clarke, A., & MacDonald, A. (2019). Outcomes to Partners in Multi-Stakeholder Cross-Sector Partnerships: A Resource-Based View. Business and Society, 58(2), 298–332. https://doi.org/10.1177/0007650316660534

Congressional Budget Office. (2020). Income-Driven Repayment Plans for Student Loans: Budgetary Costs and Policy Options. February, 1–48.

Delavande, A., & Zafar, B. (2019). University choice: The role of expected earnings, nonpecuniary outcomes, and financial constraints. Journal of Political Economy, 127(5), 2343–2393. https://doi.org/10.1086/701808

Eze, S. C., Chinedu-Eze, V. C., & Bello, A. O. (2018). The utilisation of e-learning facilities in the educational delivery system of Nigeria: a study of M-University. International Journal of Educational Technology in Higher Education, 15(1). https://doi.org/10.1186/s41239-018-0116-z

Field, J. M., Fotheringham, D., Subramony, M., Gustafsson, A., Ostrom, A. L., Lemon, K. N., Huang, M. H., & McColl-Kennedy, J. R. (2021). Service Research Priorities: Designing Sustainable Service Ecosystems. Journal of Service Research, 24(4), 462–479. https://doi.org/10.1177/10946705211031302

Gusmano, M. K., Rodwin, V. G., & Weisz, D. (2017). Persistent Inequalities in Health and Access to Health Services: Evidence From New York City. World Medical and Health Policy, 9(2), 186–205. https://doi.org/10.1002/wmh3.226

Jayabalan, J., Dorasamy, M., & Raman, M. (2021). Reshaping higher educational institutions through frugal open innovation. Journal of Open Innovation: Technology, Market, and Complexity, 7(2). https://doi.org/10.3390/joitmc7020145

Manogharan, M. W., Thivaharan, T., & Abd Rahman, R. (2018). Academic staff retention in private higher education institute - Case study of private colleges in Kuala Lumpur. International Journal of Higher Education, 7(3), 52–78. https://doi.org/10.5430/ijhe.v7n3p52

Mazelis, J. M., & Kuperberg, A. (2022). Student Loan Debt, Family Support, and Reciprocity in the Transition to Adulthood. Emerging Adulthood, 10(6), 1511–1528. https://doi.org/10.1177/21676968221080007

Medina, L. C. (2018). Blended learning: Deficits and prospects in higher education. Australasian Journal of Educational Technology, 34(1), 42–56. https://doi.org/10.14742/ajet.3100

Mezmir, E. A. (2020). Qualitative Data Analysis: An Overview of Data Reduction, Data Display and Interpretation. Research on Humanities and Social Sciences, 10(21), 15–27. https://doi.org/10.7176/rhss/10-21-02

Mitchell, M., Leachman, M., & Saenz, M. (2019). State Higher Education Funding Cuts Have Pushed Costs to Students, Worsened Inequality. Center on Budget and Policy Priorities, 24, 9–15. www.cbpp.org

Nguyen, H. (2022). Extended school closure : The perspectives from a rural school community.

Nissen, S., Hayward, B., & McManus, R. (2019). Student debt and wellbeing: a research agenda. Kotuitui, 14(2), 245–256. https://doi.org/10.1080/1177083X.2019.1614635

Pacaol, N. (2021). Teacher’s workload intensification: A qualitative case study of its implications on teaching quality. International Online Journal of Education and Teaching (IOJET), 8(1), 43–60. https://files.eric.ed.gov/fulltext/EJ1286549.pdf

Palacios, V., Goldvale, C., Geary, C., & Tatum, L. (2021). Obstacles to OpportunityIncreasing College Success by Understanding & Addressing Older Students’ Costs Beyond Tuition. April. www.georgetownpoverty.org.

Parolin, Z., & Lee, E. K. (2021). Large socio-economic, geographic and demographic disparities exist in exposure to school closures. Nature Human Behaviour, 5(4), 522–528. https://doi.org/10.1038/s41562-021-01087-8

Pratt, M. G., Sonenshein, S., & Feldman, M. S. (2022). Moving Beyond Templates: A Bricolage Approach to Conducting Trustworthy Qualitative Research. Organizational Research Methods, 25(2), 211–238. https://doi.org/10.1177/1094428120927466

Rådberg, K. K., & Löfsten, H. (2024). The entrepreneurial university and development of large-scale research infrastructure: exploring the emerging university function of collaboration and leadership. Journal of Technology Transfer, 49(1), 334–366. https://doi.org/10.1007/s10961-023-10033-x

Salmi, J., & D’Addio, A. (2021). Policies for achieving inclusion in higher education. Policy Reviews in Higher Education, 5(1), 47–72. https://doi.org/10.1080/23322969.2020.1835529

Shabalov, M. Y., Zhukovskiy, Y. L., Buldysko, A. D., Gil, B., & Starshaia, V. V. (2021). The influence of technological changes in energy efficiency on the infrastructure deterioration in the energy sector. Energy Reports, 7, 2664–2680. https://doi.org/10.1016/j.egyr.2021.05.001

Shafiq, M. N., Toutkoushian, R. K., & Valerio, A. (2018). Who Benefits from Higher Education in Low- and Middle-Income Countries ? Who Benefits from Higher Education in Low- and Middle-Income Countries ? The Journal of Development Studies, 00(00), 1–21. https://doi.org/10.1080/00220388.2018.1528351

Sithole, A., Chiyaka, E. T., McCarthy, P., Mupinga, D. M., Bucklein, B. K., & Kibirige, J. (2017). Student Attraction, Persistence and Retention in STEM Programs: Successes and Continuing Challenges. Higher Education Studies, 7(1), 46. https://doi.org/10.5539/hes.v7n1p46

Snowdon, K. (2022). College and University Baccalaureate Degrees : Another Look at Costs The Higher Education Quality Council of Ontario.

Takyi, S. A., Amponsah, O., Asibey, M. O., & Ayambire, R. A. (2021). An overview of Ghana’s educational system and its implication for educational equity. International Journal of Leadership in Education, 24(2), 157–182. https://doi.org/10.1080/13603124.2019.1613565

Troisi, O., Maione, G., Grimaldi, M., & Loia, F. (2020). Growth hacking: Insights on data-driven decision-making from three firms. Industrial Marketing Management, 90(August), 538–557. https://doi.org/10.1016/j.indmarman.2019.08.005




DOI: https://doi.org/10.17509/image.2025.009

Refbacks

  • There are currently no refbacks.


Copyright (c) 2025 Richard Lionel Gorni, Eka Prihatin, Asep Suryana

Creative Commons License
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Creative Commons License

Image : Jurnal Riset Manajemen is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License

View My Stats