This article is devoted to the role of higher education in human capital formation. The author gives a comparative context the role of education in human capital formation in Russia and abroad. Studying this issue, the author notes that the relevance of education in human development is supported by the fact that currently this component is considered to be one of the most lucrative investments. The investments in education and science has provided in past, advancing the development of Europe and North America in comparison with other countries. Today, according to estimates most experts investing in human capital of developed countries are much more efficient than investments in fixed assets. The author emphasizes in the article that in many European countries unlike Russia, formation and development of human capital, especially at the basic level, is carried out at the national level, given the characteristics of the country. The share of education expenditure in EU in average is about 4,9 per cent, especially in Eastern and Central Europe.