Applications for 2022 First Semester National Scholarships Open from the 24th... Expanded Personal Deductions for Families with Three or More Children

Introducing 'Personal Deduction' for Families with Three or More Siblings to Reduce Recognized Income Amount
Government Proposal Expands Support Unit Price to 3.9 Million KRW Annually for Income Brackets 5-6

[Asia Economy Reporter Han Jinju] The Ministry of Education and the Korea Student Aid Foundation will accept applications for the 2022 academic year first semester National Scholarship from the 24th until December 30th. Starting next year, personal deductions will be applied to households with three or more children, and the amount of support by income bracket will also increase.

The National Scholarship is an income-linked scholarship provided to university students whose income and assets are below a certain level (Scholarship Support Bracket 8) and who meet academic performance criteria.

Personal Deductions Applied to Unmarried Applicants with Three or More Siblings

From next year, unmarried applicants with three or more siblings including themselves will have the income recognition amount, which incorporates personal deductions, applied during income and asset investigations. This improves the method of calculating the scholarship support bracket. The income recognition amount is calculated by subtracting the personal deduction amount (400,000 KRW per child from the third child onward) from the sum of the monthly income evaluation amount and the converted asset income amount.

For example, if a child from a four-child household with a combined income evaluation and asset income conversion amount of 10.8 million KRW applies for the scholarship, the support bracket will be calculated based on 10 million KRW after deducting 800,000 KRW (for two children from the third child onward) as a personal deduction.

Starting next year, based on the government plan, the support amount for Scholarship Support Brackets 5 to 6 will increase to 3.9 million KRW per year, and for Brackets 7 to 8, it will increase to 3.5 million KRW per year. For basic livelihood and near-poverty households, the first child will receive 7 million KRW per year, and the second child and beyond will receive full tuition support. For multi-child households in Bracket 8 or below, full tuition support will be provided for the third child and beyond.

The Ministry of Education stated, "For university students whose scholarship support bracket is 9 or above and who do not receive support, we plan to improve the National Scholarship Type II and support university internal and external scholarships to alleviate tuition burdens."

To Receive Priority Tuition Reduction via National Scholarship, Apply by December 10

Eligible applicants include current students, freshmen (high school seniors, repeaters, etc. who are expected to enroll), transfer students, re-enrolled students, and returning students. Applications can be submitted through the Korea Student Aid Foundation website and mobile app.

To receive the National Scholarship, the previous semester’s grades must be B or higher, but considering academic circumstances, basic livelihood and near-poverty groups can apply with a C grade or higher. Freshmen, transfer students, re-enrolled students for their first semester, and students with disabilities are exempt from the grade requirement.

To receive priority tuition reduction through the National Scholarship, applicants must apply for the scholarship and complete household member information consent and document submission by 6 p.m. on December 10. Since many applicants apply on the deadline, access may be unstable, so early application is recommended.

The income criteria are determined based on the income recognition amount calculated from the income, assets, and debts of the student and household members (parents or spouse), and the scholarship support bracket results will be notified via mobile phone and email.

The scholarship support bracket review involves checking the income, assets, and debts of the student and household members (parents or spouse), so consent to provide household member information is also required. Consent can be given through certificates (joint, financial, private) on the Foundation’s website or mobile app, and if consent was given after 2015, it can be omitted.

If household members are residing overseas or are elderly and have difficulty providing certificate consent, consent forms (including copies of ID) can be submitted by mail or fax, or by visiting the Foundation’s regional centers with ID.

If the family information entered during application differs from the resident registration electronic information, documents such as family relation certificates or resident registration copies must be submitted through the Foundation’s website or mobile app. If additional documents are required, applicants will be notified by text message 2 to 3 days after application, and can check on the Foundation’s website.