KB News Desk
Aid eligibility list also gives prospective students measure of universities’ accreditation status, financial health
South Korea will restrict state scholarships and student loans for incoming students at 20 universities and junior colleges next year, after the institutions failed to meet accreditation or financial sustainability requirements, the Education Ministry said Monday.
The ministry finalized its list of universities eligible for government-backed student aid for the 2027 academic year ahead of the early admissions season, assessing 308 institutions nationwide.
Among them, 20 will face either full or partial restrictions on national scholarships and student loans, up from 17 last year.
Korea’s national student aid system provides scholarships and low-interest loans to eligible university students, largely based on household income.
Foreign nationals are generally not eligible, but the aid eligibility list also serves as an indicator of whether institutions meet government-recognized accreditation and financial sustainability standards.
Sixteen institutions will face full restrictions, meaning newly admitted and transfer students will be ineligible for both national scholarships and government-backed student loans.
The eight four-year universities in this category are Geumgang University, Daegu Arts University, Singyeongju University, Yewon Arts University, Jeju International University, Korea Baptist Theological University, Hanil University & Presbyterian Theological Seminary and Hwasung Medi-Science University.
The list also includes eight junior colleges, among them Woongji Accounting & Tax College and Gwangyang Health Sciences University. Gwangyang Health Sciences University is scheduled to close and will not accept freshmen for the 2027 academic year.
Another four institutions will face partial restrictions. Students entering Sangji University, Chugye University for the Arts, Kookje University and Daeduk University will be barred from receiving national scholarships and income-contingent student loans, but will remain eligible for general repayment student loans.
The restrictions apply only to first-year and transfer students entering in the 2027 academic year. Current students will generally remain eligible for national scholarships and student loans.
However, students who enrolled at a university in a year when it was already under aid restrictions will remain subject to those restrictions. If the university later regains eligibility, those students may also become eligible for aid.
The government determines eligibility based on institutional accreditation and, for private universities, financial assessments examining factors such as operating losses, financial statements and unfilled student enrollment.
Institutional accreditation assesses whether universities meet basic standards required of higher education institutions, while the financial reviews are intended to determine whether schools have sufficient capacity to continue operating.
“We urge students preparing to enter university and their parents to make sure they check the list of institutions eligible and ineligible for student aid for the 2027 academic year before making their final choice,” said Lee Hae-sook, director general for higher education and lifelong learning policy at the Education Ministry.
