Total reduction of 4.5 billion KRW... Financial resources to be covered by cutting down on various project budgets and withdrawing from reserves
10% of tuition paid in the first semester of 2020 to be deducted in advance for the second semester tuition
[August 6, 2020]
YU (President Sur Gil-soo) decided to return 10% of tuition back to the students.
Those subject to the reduction are students who enrolled for the first semester of 2020. The refund will be for 10% of the actual paid amount per student for the first semester tuition, and it will be returned by deducting from the tuition for the second semester. Those scheduled to graduate in 2020 will receive the amount to the individual bank accounts before graduation. The tuition discount is worth a total of about 4.5 billion KRW.
To appropriate for the tuition discount, YU plans to cut down on various project budgets, draw from its reserves, and utilize scholarships, etc. YU also paid out a special scholarship totaling 2 billion KRW by paying 100,000 KRW each to its approximately 20,000 students back in May.
<From fourth on left - YU President Sur Gil-soo, Student Council President Park Jong-joo>
YU Student Council President Park Jong-joo said, “All of the students had a hard first semester due to the unprecedented situation of COVID-19. During the past semester, the Student Council worked hard to represent the voices of the students.” He added, “We were able to bring about positive results as everyone at the university worked together despite the difficult situation. The Student Council will take the lead to help students study in a better environment.”
YU President Sur Gil-soo said, “I am well aware that students are facing financial and psychological difficulties as the COVID-19 situation prolongs.” It is a tough time for the university as well, but we decided to cut tuition for next semester to overcome COVID-19 together with the students. YU will do its best to provide administrative and financial support so that students can focus on their studies.”
Meanwhile, YU is constructing an educational and research environment infrastructure to ensure the rights to study for students, while also striving to provide administrative students amidst the COVID-19 pandemic. In addition to the regular curriculum, we have constructed an infrastructure to allow various extracurricular programs such as employment support programs to be conducted in real-time online. Library book delivery services implemented in the first semester and psychological quarantine consulting to beat COVID blues were also received well by students.
