Importance The article deals with the issues of the national higher education system, which development is not only closely related to the State demographic trends, but also depends on the internal and external economic stability. We consider the development of the trends of educational services in the European countries, as well as the crisis phenomena in the various spheres of economy. The paper analyses the reduction of the level of key indicators of socio-economic development in the European Union countries, affecting the key areas of life of society. Objectives We examine the consequences of the EU economic crisis within the period of 2008 - 2013, which impacted the European higher education system. The paper describes the key challenges and continental threats, which face the system of the European higher education in the near future (the search for alternative sources of funding, the reduction of effective demand and its geographical restructuring). We have analyzed the most promising segments of the market of educational services in higher education system, taking into account the complex socio-economic trends in the countries of the European Union. Methods We have researched the large volume of foreign analytical materials, including the official data of the statistical services of the European Union and National Center for Education Statistics (USA). We have predicted the future trends in the development of the European higher education. For forecasting, we have used the methods of systematization, synthesis and comparative analysis of empirical data. Results We conclude that in order to neutralize the negative consequences of the economic crisis for the European system of higher education it is necessary to develop and implement large-scale projects within the framework of public-private partnership between universities, national government agencies and leading industry corporations. Conclusion and Relevance The paper places the special emphasis on the main directions of activities that allow the modern universities to transform the identified challenges in additional capabilities.
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