Institutional financing in the development of higher education in selected african countries

Educational loan financing has emerged as one of the popular alternative sources of financing and this scheme currently operating in several countries around the globe. In view of the rising cost of higher education due to tuition fee and maintenance cost, a number of countries in the developing and developed world have established student loan programmes for providing the opportunity to the students of lower income class to go for higher education. Educational loan has become more popular sources of financing higher education mainly for the reasons of hike of cost of higher education, fast increasing demand for higher education and entry of the private sector on a large scale which in the long run will ultimately reaults in a ever increasing cost of education . This paper is an attempt to study the various institutional policies adopted by the African countries to meet out the expectation of their younger generation in getting finance for higher education from lending institutions.