Provide Financial Aid for Out-of-School Youth as Well

Ministry of Gender Equality and Family-Korea Student Aid Foundation, Agreement on Nurturing Talents Among Out-of-School Youth

Minister Jung Young-ae of the Ministry of Gender Equality and Family (left) and Lee Jung-woo, Chairman of the Korea Student Aid Foundation (right), are taking a commemorative photo after conducting a non-face-to-face "Business Agreement for Fostering Talents among Out-of-School Youth."

[Asia Economy Reporter Han Jinju] Out-of-school youth will also be able to receive financial aid and scholarships.

On the 29th, the Ministry of Gender Equality and Family signed a 'Business Agreement for Improving Discrimination Against Out-of-School Youth and Fostering Talent' with the Korea Student Aid Foundation. This agreement was established to improve discrimination in scholarship support and to foster talent.

The Ministry and the Foundation agreed to promote institutional improvements to include 'out-of-school youth' in the financial aid (such as academic encouragement grants) support targets, which are currently limited to university students and elementary, middle, and high school students. At present, a bill to amend the Korea Student Aid Foundation Act to include out-of-school youth is pending in the National Assembly.

Out-of-school youth will receive various scholarship supports provided by the Korea Student Aid Foundation, including university student learning mentoring, rural talent volunteer camps, and scholarships for outstanding young talents. A scholarship system targeting out-of-school youth will be established, and efforts will be made to promote various national scholarship programs and strengthen the sharing of information and materials to ensure that out-of-school youth do not give up on higher education due to financial difficulties.

Lee Jung-woo, Chairman of the Korea Student Aid Foundation, said, "Plato said that the education a person receives determines their future life, but out-of-school youth have been in a blind spot for education and scholarship support. We will actively cooperate with the Ministry of Gender Equality and Family to support education so that out-of-school youth can move toward a bright future."

Jung Young-ae, Minister of Gender Equality and Family, said, "With this agreement, I hope that out-of-school youth will not lose their dreams due to financial difficulties and will continue their studies. We will systematically support out-of-school youth to design their own futures and strengthen cooperation for institutional improvements."