Changes and Major Issues in Higher Education Finance after the 5.31 Educational Reform

This paper discussed major changes and issues in higher education finances after the 5.31 education reform. First, major changes in higher education finances after the 5.31 education reform were summarized, and major current status and problems of the higher education finances were discussed. Based on changes, current conditions, and problems in higher education finances, major issues in higher education finances were summarized, and the opinions of 15 experts on university finance and higher education were collected to identify the importance and additional issues. The main issues of higher education finance are issues related to the legal basis for financial support, general financial support(formula funding) and special purpose support (selective support for each project), financial support for private universities, financial support for local universities, university tuition, and scholarship support methods. In addition, as shown in the opinions of experts, the policy of integrating universities, the government's financial investment in higher education, the financial imbalance among universities, financial support for closed private universities such as closing incentives, financial support for higher education financial distribution standards and operating expenses, internalization of mid- to long-term basic plans for higher education, and differential financial support according to university evaluation can be presented. All of them were included in the issues presented above. Looking back on the history and changes in higher education finances, pointing out the current situation and problems, and organizing and discussing the major issues we need to look at based on them will be of great help in establishing the direction for higher education finance in the future. It is hoped that the main issues of higher education finance discussed above will be summarized and reborn as policies in the desirable direction that everyone wants.