Abstract: After the enrollment expansion of higher education, the contradiction between the expanding scale and the insufficient educational expenditure isincreasingly prominent. To explore the multiple channels of raising funds for running the school becomes the important task of financial department ofcolleges and universities to solve the shortage of capital problem and realize the sustainable development. By analyzing the present fund-raising situationof Chinas higher education and financing difficulties local universities facing, the paper tries to explore the financing channels that are suitable for the development of colleges and universities based on some experiences and innovations of the financing management.