Abstract
The article presents a comparative analysis of state funding of higher education as a factor of its effectiveness in European countries. The analysis is conducted on the example of countries where the share of state budget expenditures on education no less than 11%.The assumption that education is the main factor in the formation of a responsible citizens capable to provide the job themselves, and to provide qualified professionals for the country, that means to promote economic and cultural growth, is taken as a basis of the article.The structure of state expenditures on education in general and the amount of higher education funding in countries under consideration is analyzed.The correlation between the amount of expenditures on higher education and the indicators of the quality index of the higher education system QS World University Rankings is analyzed. Also the correlation analysis between other indexes, that characterize the general level of human development and quality of business as a result of public investment in training of highly qualified specialists, is done.