This article examines the sources of funding for public university education in Tanzania. The article also examines the trends in Other Charges and Capital Development funding for selected public universities in Tanzania taking a leap of years from 2010/2011 to 2015/2016 and their implications for quality issues in the provision of higher education. Results indicate that the sources of financing for public universities in Tanzania are unreliable and unsustainable. The findings further show that government approval rates for budgetary requests from universities decreased over the 6 years. At the same time, the proportion of government-approved funds and those released to universities decreased during the period under review. This article argues that given the unreliability of sources of higher education funding and decreasing budget approval rate and disbursed funds, the fate of quality higher education in the Country is questionable should the trend continue. Based on the findings, conclusions are drawn and recommendations made in light of the weaknesses identified and the review of the system of public university education funding in Tanzania.