ENThis paper seeks to review the current neo-liberal model of higher education finance reform, which has been implemented in Lithuania since 2009, when a new law on Higher Education and Research was enacted. The prominent role of the Constitutional Court of the Republic of Lithuania in originally framing this law is investigated, while the negative effects of the law itself, as regards issues of equity and fair access to higher education, are analysed. The Lithuanian model of reform is further discussed against the wider context of other higher education finance models, which have been implemented in comparable, socially and economically advanced countries. The paper also aims to suggest alternative means of reform which might better serve the wider causes of quality, equity and fair access to higher education within Lithuania. Keywords: higher education finance, higher education reform, access to higher education, constitutional court. [From the publication]