Abstract:

Purpose:
The purpose of this paper is determination, quantification and analysis of social dimension criteria in higher education system in Serbia. Results and conclusions obtained by current analysis should lead to increase of enrollment at higher education institutions, enhanced studying for groups of students with social difficulties and quality improvements of the whole higher education system.

Methodology/Approach:
Complex quantitative analysis of social and financial issues of studying has been obtained in order to provide reliable basis for consideration of consequences that tuition fees have to equality. Direct financial support is limited to a small number of students and it closely connected with their academic results, rather than social and financial issues. Thus, this paper should provide possible guidelines for improvement of efficiency and quality of higher education institutions for students with social difficulties. Methods and techniques used by the authors are factor analysis (used to describe variability among observed variables and identify factors, as a group of correlated variables) and Data Envelopment Analysis (DEA), which has been applied to compare efficiency of studying.

Findings:
There is a lack in understanding the consequences that introduction of tuition fees has to equality. Based on the quantitative analysis performed in this paper we can conclude that the equality in higher education is not adequately supported by instruments of financial policy, concerning the students with various social difficulties. Higher education funding is largely based on input criteria with the absence of adequate control mechanism on income spending. Thus, incentives that should ensure realization of equity, efficiency, effectiveness in higher education are insufficient, inadequate and need to be improved.

Research limitations/implications:
Inclusion of Serbian higher education system in European Higher Education Area requires extensive investments in modernization of higher education institutions. It is necessary to analyze the various criteria and methods of measurement, with the aim of establishing a conceptual framework of measurable indicators that have an positive impact on the quality of higher education services, working conditions and economic status of students.

Originality/Value of paper:
Results of this research should provide a comprehensive approach to definition of long-term intentions, such as:
- improvement of study conditions with special concern on social issues
- design the set of activities for students with special needs, students with children and etc.
- improvement of management model and increase of the integration level on Universities
- creation of the accurate national database on social and financial aspects of studying
- evidence of weak connection between public funding and outcomes of higher education system.

Keywords:

Efficiency, effectiveness in higher education, financial policy, outcomes of higher education system.