The consequences of the economic crisis for the national economy of Latvia have been evaluated. The phenomena and processes have been ascertained which under the conditions of globalization occur in the policies of economic and social development of Latvia, the EU as well as other states of the world. The role of education has been established as the key factor in the development of economics and social totality in the globalized world. Peculiarities of education as a product and a constituent part of the culture of a given society have been classified. Sources of financing and principles of the financing system of higher education have been elucidated. Aims and tasks of higher educational institutions founded by state, private or legal persons have been stated. Conditions for creating outstanding universities, scientific have been formulated. The processes of society changes have been analysed – establishment of information society, cognizance and creation of material and intellectual values, fast changes of formal and informal relations of people and the influence of fast technological progress on development of national economy. The authors indicate on decreasing competitiveness of state universities because they are lacking capacity of increasing their own financial independence while they are offering expensive natural and engineering programmes. The promotion of society education is an essential factor in overcoming the crisis. The authors offer to education similar qualities as articles. The education as an article is a service with traditional and separate special unique features. The education has not only the function of article. It is also an integral part of stated social culture and precondition of its development and welfare. The principles of higher education financing have been defined. The authors indicate on two main problems of education – issues of principles of financing and volume of higher education and increase of availability, importance and expenses of education. There are offered functional solutions to these problems