The question of the economic component of the development of a higher education institution in the context of the formation of its attractiveness in the market of educational services was highlighted. The peculiarities of higher education financing in the countries of the European Union (EU) were considered, where the state financing of education makes up from 50% to 90%, and the level of payment for education by students varies by country and most often depends on the policy of the higher education institution. Forms of attracting financial resources by universities and methods of funding distribution developed at the EU level were analyzed. The main international European grant programs and programs of studies and scholarships in which Ukrainian institutions of higher education can participate were described (TEMPUS, ERASMUS MUNDUS, ERASMUS+, ERASMUS+KA1, ERASMUS+KA2, JEAN MONNET, SCHOLARSHIP). It was emphasized that participation in such projects contributes to attracting additional financial resources, which is important in the formation of the economic component of a higher education institution and improves its image on the national and international education market as a center of science and education. A conclusion was made about the importance of the development of higher education institutions in the context of the formation of effective human potential capable of performing the complex tasks of the post-industrial economy.