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Keywords:: higher education; patterns of investment; government investment; household investment; socialinvestment

Abstract:: This paper explores the patterns of investment in higher education by using international dataduring the period from 2005 to 2015. It is found that there are three patterns in OECD countries: the Northern-Europe Pattern with the highest share of government investment; the Continental-Europe Pattern in which thegovernment is the main source; and the Non-Europe Pattern in which non-government investment is the mainsource. The ways China and Russia invest in higher education are similar to the Continental-Europe Pattern,but the shares of government investment are relatively low. Through this comparison, we suggest that Chinashould learn more from continental European countries including Russia; that the government should give moreinvestment in higher education; and that the tuition should be raised.