Washington, D.C., Sept. 18, 2006—The Institute for Higher Education Policy recently launched a new initiative dedicated to addressing the growing role of private financing as an option for access in postsecondary education across the world. The Global Center on Private Financing of Higher Education serves as a central repository of comprehensive data and trend analysis of private sector funding, which includes private loans, scholarships and other philanthropic aid, bond issues, and public and private partnerships.
The initial examination process of the Global Center on Private Financing of Higher Education includes reviewing the current, worldwide state of higher education relative to private sector financing. Another important element being explored is the analysis of private sector funding as a supplement to government support. Findings from these studies will then be presented in information briefs and studies, and used by the center’s experts who will offer advice and provide forecasts to higher education decision makers. Additionally, development of other key products is currently underway to complement the mission of the center. They include ongoing special events featuring influential leaders and experts and an all-inclusive Web site.
“The Global Center on Private Financing of Higher Education offers a unique opportunity to contribute new knowledge about the role of private capital to support ongoing access to higher education,” said Institute President Jamie P. Merisotis. “Private sector funding has increasingly become an important supplement to government funds in postsecondary education and what we learn will ultimately make important contributions to the broader dialogue about why funding for higher education is linked to global economic and social development.”
The Global Center on Private Financing of Higher Education is being directed by the Institute’s Senior Associate Thomas D. Parker, co-founder and former president/CEO of The Education Resources Institute, the world’s largest nongovernmental guarantor of student loans. Serving as chair of the center’s advisory board is a recognized authority on the private financing of higher education, Stephen Anbinder, co-founder of The First Marblehead Corporation, a New York Stock Exchange listed company and leading provider of outsourcing services for private education lending in the United States. Anbinder recently retired as an employee of First Marblehead, but remains vice chairman of its board of directors. Additional support to the center is being provided by the Institute’s distinguished staff of more than two dozen analysts and professionals.
“Currently, there is a wide gap in understanding the global role of private financing in higher education, even as more investment and information is being made available by private funders to support students and institutions,” said Parker. “The Global Center on Private Financing of Higher Education narrows this disparity by paying special attention to the creation of public and private partnerships, which can lead to access and success in postsecondary education.”