This abstract examines the critical and persistent challenges confronting the financing of higher education (HE) systems within the Small Independent States (SIS) of the Caribbean. These states face a unique nexus of structural, fiscal, and environmental vulnerabilities that compromise the long-term sustainability and equitable access of tertiary institutions, notably the University of Trinidad and Tobago (UTT) and other national Caribbean colleges. The core challenge lies in the trilemma of small states: high operating costs due to limited economies of scale, inelastic public revenues, and disproportionate exposure to exogenous shocks, particularly escalating climate change-induced disasters. This financial volatility leads to HE systems being severely underfunded, characterized by reliance on faltering government subventions, increasing tuition burdens on low-income populations, and underdeveloped private-sector investment. Furthermore, the limited administrative capacity of many SIS complicates their ability to effectively navigate complex multilateral funding mechanisms and diversify revenue streams, further compounding their debt vulnerability. The paper argues that current financing models, often based solely on per capita Gross National Income (GNI), fail to account for the acute, multidimensional vulnerability of Caribbean SIS. Sustainable HE financing requires a change in basic assumptions, advocating for industry regional collaboration on shared resources and the adoption of vulnerability-adjusted metrics, such as the proposed Multidimensional Vulnerability Index (MVI), to unlock predictable, concessional development finance dedicated to building resilient educational infrastructure and fostering future human capital.

Authors:
Zameer Mohammed, The University of Trinidad and Tobago, Trinidad and Tobago

About the Presenter(s)
Dr Zameer Mohammed is currently the Assistant Vice President at The University of Trinidad and Tobago. His interests are in educational leadership in an AI environment, Policy iniitiatives in higher education, and industry-academia collaborations.

Connect on Linkedin
https://www.linkedin.com/in/dr-zameer-mohammed-3399b017

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