Student Loan

Indicator Description

  • A. Definition

    Number of students who apply for a student loan (tuition + living expenses) every semester

  • B. How to measure

    Student Loan Usage Ratio = Number of students using student loan (Tuition + Living Expenses) / Total number of enrolled students ✕ 100

    • The figures given are the results excluding the number of college students
    • Current data in ‘University Alimi’ are available by the first semester of 2017

    ※University Alimi: University information center in Korea

  • C. Features and Sources

    Category Sub-Category Sub-Subcategory Type of Indicator Reference Data Sources First year data available Periodicity
    Social Rights Right to Education Education Discrimination and Inequality Objective/Structural Ministry of Education Higher Education in Korea 2008 1 year
  • D. Interpretation

    Korean university’s tuition fee is the most burdensome among OECD advanced countries. In the country, the National Student Aid Program provides financial support for low-income college students by financing a certain amount of tuition fees or through student loans. Also, the government’s efforts to support low-income students are being implemented through various programs such as income contingent loan, trimming lending rates and others. Looking at the current status of student loans, the use of student loans is gradually declining due to a decline in the schooling population, birth rate, and college entrance rate. In 2016, although the loan utilization rate increased slightly compared to the previous year, the actual ratio declined to 12.3%, which means that only 447,000 students are benefiting from the loan system. Even though the student loan can solve the burden of the tuition at this moment, it is pointed out that the government should consider ways to reduce the tuition fees of universities in the sense that it can be a burden for college students who enter the post-employment society.

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