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Subject  7/24/08: University Funding Based on Graduate Employment Rates
Writer KCUE
Data 08-09-23 00:00
조회수 6,180  
<b><center>University Funding Based on Graduate Employment Rates</center></b>

The South Korean Ministry of Education, Science, and Technology (MEST) announced on July 24, 2008 that it had decided to begin a program of “formula funding” this year in which budgetary support for universities will be partly based on their graduate employment rates. The decision coincides with increasing concerns about unemployed university graduates and continuing complaints from businesses regarding the skills of graduates that are widely reported in South Korean media.

According to MEST 50 billion KRW of funding based on the program will be allotted to four-year universities, and 50 billion KRW will be allotted to junior colleges. Individual schools will qualify for a portion of the funds based on a formula in which 25% is determined by their graduate employment rates, 25% by student continuation rates, 10% by the ratio of full-time instructors, and 20% by the ratio of scholarship recipients. Schools with numbers below a certain threshold might not receive anything. A lump sum will be provided to the school president to use in undergraduate programs at their discretion.

MEST anticipates the funding will promote competition between schools, increase the quality of higher education, and improve school autonomy compared to previous methods in which the government specified where funds were to be used.

<small>For more information:
“Chwi-eopyul, Haksaeng Chungwonyul Ttara Gyogwabu Daehak Jaejeong Jiwon” (“취업률, 학생 충원률 따라 교과부 대학 재정 지원”), Yonhap News, 24 July 2008.</small>

 
 
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