THE IMPACT OF REGULATORY MECHANISMS FOR FINANCING HIGHER EDUCATION ON INCLUSIVITY AND HUMAN CAPITAL FORMATION

Abstract

The article examines the relationship between regulatory policy on higher education funding and the formation of an inclusive economy in the context of ensuring access to educational services and reproducing human capital. The aim of the scientific research is to identify structural contradictions in the current model of financial support for higher education institutions, in particular indicative pricing, and to justify directions for its transformation in accordance with the goals of social justice, equality of educational opportunities, and the strategic development of inclusive institutions. The author's approach is based on conceptualizing a model of interaction between higher education funding mechanisms, characteristics of an inclusive environment, and the effectiveness of human capital policy. An analytical framework is proposed that covers the logic of direct and reverse cause-and-effect relationships between state orders, contract-based training, regulatory control of tuition fees, and the level of social inclusion of students. A systematic analysis of the weaknesses of the current state order model, conflicts between performance indicators and institutional inclusion objectives, and social risks associated with the growing dependence of higher education institutions on contractual sources of income has been conducted. The scientific novelty of the study lies in combining financial, economic, and social approaches to assessing regulatory instruments, as well as in developing conceptual foundations for transitioning to a funding model that combines multiple sources with socially targeted support mechanisms for students. The work proves the need to institutionalize the indicator of inclusive impact in financing algorithms, expand the autonomy of higher education institutions in pricing policy, and apply digital tools for targeted subsidization. The practical significance of the results obtained lies in the formation of scientifically sound recommendations for reforming approaches to the distribution of budget financing, taking into account the goals of inclusive development, regional disparities, and the socio-economic vulnerability of various groups of students. The results of the study can be used to improve regulatory and legal acts in the field of education financing, develop strategic documents on education policy, and form financial models for higher education institutions focused on social performance.