At Semyung University, the refund policy for dissatisfied students is full, regardless of when they choose to withdraw.
SEOUL, April 29 (Korea Bizwire) — Semyung University, nestled in the heart of the city of Jecheon in North Chungcheong Province, is making waves as it becomes the first Korean institution to pioneer a tuition responsibility refund system. This experimental approach, aimed at providing experience-oriented differentiated educational content, comes at a time when local universities are struggling to keep up with the dwindling school-age population.
Semyung University president Kwon Dong-hyun, in a press conference on Wednesday, stated that the university aims to restore the value of education by taking a path less traveled. He firmly believes that universities should be evaluated based on the quality of education and not by their distance from Seoul. This innovative approach is expected to provide a way for local universities to thrive in today’s competitive educational landscape.
Typically, universities provide refunds to students who drop out within the first 90 days of the semester. However, these refunds are often only 50 percent of the total tuition fees. At Semyung University, the refund policy for dissatisfied students is full, regardless of when they choose to withdraw.
Local universities are struggling to attract new students as the number of high school seniors continues to decline. In 2023, 1 in 5 students who were accepted at local universities did not enroll. Furthermore, of the 60 universities that failed to meet their recruitment quotas, 80 percent were local universities. This situation has led some universities to offer incentives such as scholarships and iPads, but these measures have failed to yield significant results.
Semyung University has identified the tuition responsibility refund system as a way to address this issue. According to a university official, the system is not just about recruiting students but also about improving the quality of education. The hope is that by increasing the quality of education and reducing dropout rates, it will be easier to attract new students.
President Kwon believes that Semyung University’s challenge will provide a stimulus for other local universities to follow suit. He hopes that this innovative approach will create a butterfly effect that restores the value of education, the essence of the university, and builds a society that respects the rights of students. The tuition liability refund system will be implemented for freshmen at Semyung University in 2024.
M. H. Lee (mhlee@koreabizwire.com)
