ERIC Clearinghouse on Higher Education; 5 

This document is concerned with the issue of who benefits from higher education and who should pay for it. Those who believe that society is the main beneficiary of higher education feel that state and federal budgets should bear the majority of educational costs; however, those who believe that the benefits of higher education are minimal in relation to social improvement believe that the students and their families should bear their own educational costs. The present mode of support to higher education incorporates a mixed system comprising for institutions a combination of tuitions, public appropriations, and private philanthropy; and for students a combination of loans, grants, work, family contributions, and foregone income. It is felt that this mixture of financial sources is, in the end, the most feasible, for it enhances institutional diversity and academic freedom by reducing the chances of monopoly and complete control by any one source. (HS) 

Full digital copy available at http://eric.ed.gov/?id=ED066141.