Essays in Education


A voucher system, named financial-rebalance funding system, has been proposed to be adopted for higher education in Hong Kong in 2002. Education voucher has been proposed by Friedman as early as 1955, and reaffirmed by Gary Becker in 2002. Although, education voucher system has attracted much discussion and debate worldwide since its introduction, most of the discussion and debate are for primary and secondary education. Moreover, very little research has been undertaken on the opinions and attitudes of stakeholders from the supply-side and demand-side. Without input from these stakeholders, a funding mechanism might not function as what it is supposed to.

This study has collected opinions and attitudes of stakeholders of private-funded institutes towards the adoption of a voucher system for higher education in Hong Kong. Based on past discussion and debate, seven aspects of a voucher system will be discussed: student choice; diversification of education; diversification of fund sources; equity; performance of the demand-side; performance of the supply-side; and autonomy. An analysis of the consensus and discrepancy between stakeholders of private-funded and government-funded institutes would be given. With these two sets of concern, an ideal funding model will be worked out.

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