Provide operating models based on modern debt instruments in higher education

Due to the increasing demand in the society for educational services and the internationalization of the higher education system, obligation to quality in providing services as key success factors requires efficient financing activities and programs in higher education institutions. In this regard, this paper investigates the pathology of conventional financing methods in universities and higher education institutes, and ultimately presents operating models using modern capital market instruments. Financing backed assets and cash from receivables of higher education institutions are in line with the strategic policies of self-reliance of the higher education system. Accordingly, this research uses a descriptive approach and pursues the goal of overcoming the deficiencies of conventional financing system through the design of an operational model of endowment securities, student loans asset-.backed securities and ijara securities with considering the associated restriction and provisions.