Ministry of Education Announces Universities Eligible for Financial Support... 18 Universities Face Financial Support Restrictions

Announcement of 284 Universities Eligible for Financial Support
Student Loan Restrictions for Gyeongju University, Seorabeol University, Geumgang University, and Others

[Asia Economy Reporter Han Jinju] The Ministry of Education announced the list of 284 universities eligible for government financial support for the 2022 academic year on the 20th.

The list of universities eligible for financial support was selected based on the 2021 government financial support restriction university evaluation results and the 2021 university basic competency diagnosis participation survey results.

As a result of the evaluation, 18 universities were designated as financially restricted universities. By type, there are ▲Type I: 5 universities (2 general universities, 3 vocational colleges) ▲Type II: 13 universities (7 general universities, 6 vocational colleges). These 18 universities will have government financial support restricted for the 2022 academic year, and national scholarships and student loans will also be restricted differentially.

The universities restricted from student loans include 9 general universities and 9 vocational colleges. Among the general universities, ▲50% restriction on general repayment applies to Seoul Christian University and Yewon Arts University ▲100% restriction on both general repayment and income-contingent repayment applies to Gyeongju University, Geumgang University, Daegu Arts University, Shingyeong University, Jeju International University, Korea International University, and Hanlyeo University.

Among vocational colleges, ▲50% restriction on general repayment applies to Doowon Technical University, Busan University of Science and Technology, and Seorabeol University ▲100% restriction on both general repayment and income-contingent repayment applies to Gangwon Tourism College, Goguryeo University, Gwangyang Health College, Daeduk University, Yeongnam Foreign Language College, and Woongji Tax College.

The 2021 university basic competency diagnosis allowed universities to choose whether to participate. Twelve universities that expressed non-participation (11 general universities, 1 vocational college) have no restrictions on national scholarships or student loans but cannot receive government financial support.

The Ministry of Education plans to conduct a university basic competency diagnosis for the 284 universities eligible for government financial support and select and announce universities eligible for general financial support. Self-diagnosis reports from each university will be accepted until the end of May, followed by document evaluation and non-face-to-face online evaluation in June and July, with the final results announced at the end of August.