ABSTRACT
Of all social institutions in society, it is perhaps higher education that has the most visible and direct link to economic production and social progress. It is a central cog in the road to economic advancement, a catalyst for democratic development as well as the improvement in social justice. Available evidence indicates that nations with the highest levels of higher education also manifest the highest levels of economic prosperity in addition to democratic progress and social justice awareness. Notwithstanding these benefi ts of higher education, it is under severe threat because it is also one of the largest claimants of public treasuries. Throughout the world, national universities are experiencing austerity measures resulting in increased cost to students, overcrowded facilities, deteriorating physical plants, and demotivated faculty and staff .
