CHAPTER ONE
1.1 Background To The Study
An appraisal of Educational funding indicates that a significant portion is appropriated to funding education including secondary schools. However due to increasing cost of educational funding there have been calls to cut cost to reduce the overall cost of spending in the educational sector. (Otieno & Colclough, 2009).But in view of the significance of the educational sector it is not proper to cut cost so as to avert the Damaging consequences. (Go, 2005).Therefore due to greater demand for Education and the over stretch on private secondary school owners budget there has been the need for alternative strategy to raise funding for private secondary school. Therefore partnerships in educational funding with individual investor, parents, donors agencies, civil society, ngos, etc. Has been advocated. Funding is also expected from religious organization, private investors, bilateral loans and public resource grant from donors. (MOEST, 2001).
The need to offer quality secondary education is significant to generate opportunities for the derivation of social and economic development as expected in vision 2030. Consequently the increased enrollment rate into private secondary schools which has led to increased cost of providing the needed infrastructure and quality standard of education places greater demand for additional funding out of approved government annual budget. Therefore in view of the need to achieve the educational sustainable goals there is need to explore new strategies of funding for private secondary schools. According to Assie-Lumumba (2005) five funding strategies are identified the local communities, families, external sources, state and business entities. Therefore the research seeks to proffer an Analysis of institutional cost and coping strategies by private secondary school in South Senatorial District, Edo state.
1.2 Statement of the Problem
Private secondary schools had in recent years played significant role in the provision of educational need of the country through the provision of good quality standard of education. This has led to an increase in enrollment figure of students into private secondary schools. Consequently there has been a rise in the cost of providing the much needed infrastructure, equipment’s, etc. to cope with the demand for private secondary education. The need to provide good quality secondary education is pivotal for the development of opportunities, social benefit and economic development (World Bank Report, 2005). Educating people means putting opportunities into their. Education enhances economic prosperity, competitiveness and increase average earnings of the people.
(Ndichu, 2003).A appraisal of private expenditure in education reveals increasing cost as against revenue derived. (MOEST, 2001). Consequently the burden of providing good quality education has overstretched estimated budgetary provisions. Therefore private stakeholders are seeking alternative sources of funding to provide quality education at the secondary school level. This places major challenges in meeting the cost and financing education. The problem confronting the research is to appraise the need to provide good quality secondary education is pivotal for the development of opportunities, social benefit and economic development (World Bank Report, 2005). Educating people means putting opportunities into their. Education enhances economic prosperity, competitiveness and increase average earnings of the people.
(Ndichu, 2003).A appraisal of private and public expenditure in education reveals increasing cost as against revenue derived. (MOEST, 2001). Consequently the burden of providing good quality education has overstretched estimated budgetary provisions. Therefore private stakeholders are seeking alternative sources of funding to provide quality education at the secondary school level.
This places major challenges in meeting the cost and financing education. Therefore the problem confronting the research is to proffer Analysis of institutional cost and coping strategies by private secondary school in South Senatorial District, Edo state.
1.3 Objectives of the Study
To proffer an Analysis of institutional cost and coping strategies by private secondary school in South Senatorial District, Edo state.
1.4 Research Questions
What is the Analysis of institutional cost and coping strategies by private secondary school in South Senatorial District, Edo state.
1.5 Significance of the Study
The study proffers an Analysis of institutional cost and coping strategies by private secondary school in South Senatorial District, Edo state.
1.6 Research Hypothesis
Ho The institutional cost of a private secondary school in South Senatorial District, Edo state is low
Hi The institutional cost of a private secondary school in South Senatorial District, Edo state is high
Ho The strategies for coping with the institutional cost of private secondary school in south senatorial District of Edo state is not effective
Hi The strategies for coping with the institutional cost of private secondary school in south senatorial District of Edo state is effective
1.7 Scope of the Study
The study proffers an Analysis of the institutional cost and coping strategies by private secondary school in south senatorial District of Edo state.
1.8 Limitations of the Study
The research was faced by some constraints including logistics and geographical factor.
1.9 Definition of Terms
EDUCATION DEFINED
Education is defined as the process of the acquisition of knowledge, skills, values, and learning
STRATEGY DEFINED
Strategy is the plan which outlines the channels to be deployed in the attainment of goals and objectives. It focuses on the effective deployment of resources for the attainment of the long term goals of the firm.
