Abstract
Education provides the bases for the development of a nation. It is the major platform for training and equipping members of society to appreciate their environment and acquire the necessary skills and competencies. The skills and competencies help exploit better available resources in more efficient and effective manner to the general good of society. However, there is cost, both explicit and implicit to be borne. This work is directed to find out the bases of determining the cost of education in Ghana and how it is finance. Relevant literature is reviewed to establish the responsibilities of stakeholders in financing education particularly at the tertiary level. It is revealed that Government, the major stakeholder is gradually shirking its responsibility, not only providing funds, but the controlling aspect in policy direction to the detriment of society.