TAIPEI (TVBS News) — The Taiwan government approved on Thursday (June 29) a new subsidy aimed at private college students and introduced free tuition for high school and vocational high school students.
The program could benefit around 634,000 private college students but failed to convince some opposition members.
Under the new policy, the Ministry of Education will cover NT＄17,500 of the student's tuition fees each semester (NT＄35,000 annually).
Furthermore, students from households with an annual income below NT＄700,000 and those with incomes between NT＄700,000 and NT＄900,000 will have the opportunity to apply for additional financial assistance ranging from NT＄15,000 to NT＄20,000.
In addition to these subsidies, high school and vocational high school students will enjoy free tuition, eliminating the financial burden of their education. The grace period for student loan repayment will be extended from eight to 12 years.
The implementation of this new system is scheduled for February 2024, offering significant relief to students grappling with financial pressures.
Cabinet spokesperson Lin Tze-luen emphasized that the NT＄22 billion allocated for this initiative will not be drawn from existing education budgets and will not impose an increased burden on schools.
While opposition parties have expressed support for the plan, they have also criticized it as a strategic move by the ruling Democratic Progressive Party to secure more votes in the upcoming 2024 presidential and legislative elections.
Legislator Jang Chyi-lu from the Taiwan People's Party has questioned the government's funding strategy and raised concerns about the program's ability to prevent private schools from closing.