A Comparative Study of the Funding Resources for Public and Private Universities in the United States

Abstract

Top universities in the United States have several hundred years of history and have accumulated rich experience in raising school funds. This article first briefly introduces the funding resources available for these universities, followed by comparison of the funding for both public and private universities in the United States from five aspects: government funding, research grants, tuitions, donations, and other resources. Finally, based on the successful practices and experiences of American universities on funding, several suggestions are made to improve the funding mechanism of China ’s first-class universities, providing references for the construction of “double first-class” universities in China. Adequate funding is a must for building a world-class university. We need to establish and improve the funding mechanisms and apply business measures to school-running to ensure the sustainable and healthy development of the university in competition. Meanwhile, universities should improve their internal management and make overall plans for a more efficient use of the fund.