Colleges to cut tuitions 4.2% on average in 2012

Annual tuition costs at domestic universities and colleges will fall 4.2 percent on average this year, officials said Monday, a move in response to the government's campaign to lighten the financial burdens on students.

According to the data compiled by the education ministry, 337 out of 344 universities and colleges across the country have joined the government's efforts to reduce burdens for students and parents. Altogether 589.8 billion won ($527 million) is expected to be saved.

Universities here have been under public scrutiny over annual fee hikes over the past decade, since higher education costs emerged as a major social and political issue amid growing household debt and increasing commodity prices.

Among the colleges, 204 schools decided to lower their tuition by more than 5 percent, while 60 and 73 colleges cut their fees by 3 to 5 percent and up to 3 percent, respectively, the data showed.

Combining the tuition cut with the government's budget of 1.75 trillion won earmarked for tuition support in 2012 and additional scholarships provided by each college, a total of 936.5 billion won is expected to be funneled into tuition support this year, according to the ministry.

The amount will allow students to experience an average of a 19.1 percent cut in their tuition this year, while those from lower-income families who are subject to larger amounts of government subsidies will have a 25.4 percent reduction in tuition costs compared to last year, the ministry added.

"Efforts to reduce the burdens from college tuitions should be pushed for in a consistent manner," Education Minister Lee Ju-ho said. "I'll explore ways to give incentives to schools that actively cooperate with the government for tuition cuts." (Yonhap)