INTERNATIONAL EDUCATIONAL SPACE
5’2021

Olga Anisimova
https://orcid.org/0000-0002-6721-3030

FORMULA FINANCING OF THE VOCATIONAL TRAINING: BEST PRACTICES

Full text (pdf)
Language: English
Abstract. Vocational education plays an important role in the national education systems of different countries. At the same time, the issue of the framework of financing the provision of educational services remains extremely important. The aim of the article is to analyze the best practices of formulaic financing of vocational education. The article considers the main approaches to determining the components of the formula for financing vocational education. To achieve our goal, we used several scientific methods, such as synthesis, analysis, deduction, etc. The analysis of the best practices of formula financing of vocational education is carried out, the basic indicators which are used for the formula for the financing of vocational education are defined. It is established that the proper funding and adequate allocation of funds for vocational education help to improve the quality of educational services. The allocation of public funds using a formula can be based on criteria determined by each country, depending on the place of vocational education in the general education system. The funding formula is most often used when vocational education is part of general secondary education or its direct continuation. It is determined that the use of the financing formula helps to increase the efficiency and transparency of the allocation of funds. The key factor in the successful use of the formula is the choice of allocation criteria. It is established that the basic criteria are usually used in funding formulas such as the type of educational institution that provides educational services, type of educational program, number of students and years of study, the need for additional funding for students with special needs. Among the countries that use the funding formula extensively, we analyzed the practices of the UK and Denmark. Both countries have a long history of using the formula, constantly improving and assessing its efficiency.
Keywords: vocational education, formula financing of vocational education, criteria of the formula of financing vocational education, efficiency of the allocation of funds.
https://doi.org/10.32987/2617-8532-2021-5-103-118

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