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Korea's Ruling GNP Aims to Ease Financial Burden on College Students by 15% Next Year

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공표년도

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2011-06-23

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One.5 trillion won‚ or roughly 1.4 billion US dollars‚ is how much Korea's ruling Grand National Party plans for the government to use as next year's financial aid for colleges.
The GNP's floor leader Hwang Woo-yea told reporters Thursday that by 2012‚ 1.4 billion dollars provided by the government‚ plus 460 million dollars sponsored by universities‚ will bring down the tuition burden by 15 percent.
Out of the government's share‚ 1.2 billion will go to general students and the rest will be provided to those in the low-income bracket.
And by 2014‚ 2.8 billion dollars in total will be funded‚ reducing tuition by 30 percent.
He added that the amount of funds available for students from low-income families will be expanded gradually over the next three years.
However‚ this grand plan‚ although established through several meetings with related ministry officials‚ is still just a plan and the specifics remain to be discussed further with experts and officials.
The GNP will work on passing several revision bills that will reorganize the income structure of universities this month at the National Assembly and push forward with its plan.
Meanwhile‚ shortly after the plan was unveiled‚ an official from the Presidential Office expressed regret.
The official said the party should have taken President Lee Myung-bak and main opposition Democratic Party Chairman Sohn Hak-kyu's meeting‚ set to take place next Monday‚ into account and waited for the ruling and opposition parties along with the government to come up with a solution.
Laah Hyun-kyung‚ Arirang News.
Reporter : jlaah@arirang.co.kr

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