A Model of Financial Management in Education System

Abstract

In the field of education there is a need for a finance system. Due to this need, the author has developed the model of Participating, Payable, Profitable, Proponent (4p), and Insured Education System (IESM). In this paper, Joint Education Account, which is one of the education financing systems proposed in IESM Model is discussed. Joint Education Investment Account will be based on individual education saving accounts having tax reduction and dividend income, which will be consolidated under a joint account where the dividend of the joint account is allocated to individual accounts so that the users of the system receive higher profits. (C) 2013 The Authors. Published by Elsevier Ltd. Open access under CC BY-NC-ND License.