Korea Spends Least on Scholarship in OECD

By Lee Hyo-sik
Staff Reporter

University students here are grappling with surging tuition bills these days, with many having to take up part-time jobs to make up for a shortfall in their tight educational budget.

Some students are even forced to take a leave from school for a year or so to earn money to finance the soaring costs of the nation's higher education.

However, the size of scholarships and other forms of state financial assistance for university students is one of the smallest among the OECD member countries, which indicates most students here are on their own in financing their educational expenses.

According to the OECD data Friday, scholarship, student loans and other financial aid provided by the government to university and graduate school students last year accounted for only 2.93 percent of the entire public-sector spending on universities and other higher learning institutions.

It means the Korean government spends most of its budget allocated to higher educational institutions to pay wages and other administrative and operating expenses, rather than financially support students in need.

Korea's ratio is the third lowest among the 28 OECD economies and substantially lower than the OECD average of 18.5 percent.

Norway was most generous to university students, providing 42.57 percent of its public sector educational expenditure as scholarships and student loans, followed by New Zealand at 41.54 percent and Australia at 32.33 percent.

Government scholarships here accounted for only 1.42 percent of its entire educational spending, sharply lower than the OECD average of 10.43 percent. It provided only 1.25 percent of its budget to university and graduate school students as loans

But tuition fees at state-run universities averaged 4.2 million won per semester in 2009, up 44.5 percent from 2.9 million won five years ago.

University students enrolled in private universities across the country paid an average of 7.42 million won per semester, up 28.6 percent from 5.77 million won over the same period.

leehs@koreatimes.co.kr

Site Map E-paper Subscribe Register LogIn
Site Map E-paper Subscribe Register LogIn