The Finnish education system is one of the best in the world. Recently, however, the Republic of Finland has been undergoing reforms with controversial results. This article attempts to identify the positive and negative elements of the reform of school education of Finland, as well as the reasons for the fall of Finnish education in the international rankings (for example, PISA) at the beginning of the XXI century, analyzes the University reform of 2010, and identifies the reasons for reformations. The author comes to the conclusion that the period of decline in the Finnish educational system is closely related to the global economic crisis. It is assumed that with the end of the crisis, Finland's position in the international rankings of education will move up.