Historical Interplay of Funding and Finance in U.S. Higher Education

Abstract

This chapter provides an historical portrait of the complex and emergent journey of U.S. higher education with an emphasis on funding and fiscal dynamics. Topics explore the various time periods that have shaped higher education and financial means through state and federal governments, philanthropic donations, and the integration of business and corporate partnerships. The role(s) and goal(s) of the academy have evolved over time as the country expanded and business practices emerged. However, there is no centralized plan for the development or maintenance of U.S. higher education. This chapter traces the rise of higher education, the growth of business and industry, and the shift of governmental oversight and wherewithal. This interplay of funding and finance includes the role of business revenue in the initiation, maintenance, and growth of universities and colleges.