ABSTRACT
This chapter introduces the issues surrounding higher education finance, especially for public universities, which are very dependent on the budget from government. Public debt pressures in several countries arising from the global economic crisis have impacted higher education, compelling governments to curtail funding of higher education. Various instruments have been proposed as platforms for the private sector to channel funding to HEIs. This chapter focuses on philanthropic instruments such as endowment and waqf funds. Traditionally, waqf has been funding only unofficial education such as madrasah or pesantren; but today it is also seen as a source of higher education finance.
