ABSTRACT
HEIs play an important role in promoting knowledgeable and competitive human capital for a country; therefore, their funding system should be examined to ensure smooth operation. Higher education is viewed as a social need as well as an individual need. If the first view is adopted, then the government should provide educational opportunities to everyone who needs it. If the second view is adopted, then people would have to pay for the education provided. In this case, two parties are involved in providing higher education, namely the government and society. This chapter elaborates higher education finance whereby public and private sectors are responsible to provide funding for HEIs, particularly for the public universities. Financial sources obtained through voluntary donations are also essential, such as endowment and waqf funds which become the main focus of this book.
