.

ISSN 2063-5346
For urgent queries please contact : +918130348310

AN EXAMINATION OF THE EFFECT OF TUITION FEES ON FNANCIAL HEALTH OF PRIVATE UNVERSITIES IN KENYA

Main Article Content

Ann Kathomi, Elias Njeru Njagi
» doi: 10.48047/ecb/2023.12.1.454

Abstract

The role played by universities in the growth of any economy cannot be ignored. Universities make a substantial contribution to the accomplishment of both national and international strategic educational goals. Without stable financial status in the universities, these aims cannot be met. Indeed, the greater attention towards financial challenges in private universities has been influenced by education reforms and the economic meltdown in Kenya and globally at large. This study investigated the effect of tuition fees income on the financial health of universities in the Kenya. A list of 37 private universities was obtained from Commission of University Education as per 2022. The study was guided by the revenue theory of costs and adopted the cross sectional survey design. The target population comprised of registrars in charge of finance, research and extension, Chief Finance officers and senior procurement officers. A Questionnaire was used to collect data. Qualitative data was analysed using descriptive statistics. The study revealed that tuition fees impacted on university financial health since it contributed to payment of staff salaries, employee development, teaching facilities and infrastructural development of universities such as construction of classes, staff residences, staff offices, and libraries are all crucial for university financial health. According to the study, since private universities rely heavily on students' tuition fees, the university management board should establish accommodative ways of charging and collecting fees, branding and marketing their programmes in order to attract more students both nationally and internationally to earn more income and have abilities to fully support their operations. The study will be beneficial to the university management and the shareholders by unveiling on the strategies to increase earnings from tuition fees. In addition, pinpoint areas to venture in, enhance excellence in research, and insight to management of other private higher educational institutions and researchers.

Article Details