University education favours both the government and the students,it will be unreasonable to make students pay for the entire cost of higher education. Rather,both government and student can bear the cost of the tuition. However, university education can be fully paid for by students via out of pocket means or through students loan by the government.
By government fully sponsoring students through higher education through scholarship means, this method is particularly beneficial to both government and student as this increases the number of skilled employable individuals making the workforce population to raise significantly. For example, potential benefactors(students )of the government’s scholarship are given opportunities to study in either their home country or abroad with the condition that students would return upon graduation to work for the government.
Most times,paying for tuition fee by students or their parents/guardian is usually not easy because of the financial implications. The draw back of this method is that, students tend to pick courses they feel is affordable like science and education courses which might not attract high pay.This method has more disadvantages than advantage, although students can boost of sponsoring their university education.
On the other hand, government loan is another option as a means of funding university education .The advantage of this method is that ,most students can get to study their desired courses without the fear of not being able to pay for tuition fee. Also, students get into the best university, finish the course of study and stand a better chance of employment in a higher paying institution.
In conclusion, government loans has liberated students from studying less profitable courses, paying for university education through personal finance makes students debts free. However, having the government fully fund university education is more flexible.