The Seoul National University Scholarship Foundation is established for the purpose of assisting the students who are in need of financial support. To raise the fund for the scholarships and grants, the foundation accepts contributions from various educational organizations and business groups.
Scholarships are determined on the basis of both scholastic achievements and financial needs. More emphasis is usually on the former. Although those scholarships given by outside institutions may have their own guidelines of selection, an average of `B’ or better is mandatory for all scholarships. All recipients are expected to maintain good academic standing, or they will lose their eligibility. About 70% of the total number of students enrolled has received financial aid of one form or another in 2012. The government authorizes tuition waivers for 30% of all enrolled students. This covers the amount of tuition plus a part of other expenses needed. Smaller in number, but greater in terms of the amount of grants than either the government scholarships or the University scholarships, are those sponsored by various private industrial and educational organizations.
SNU makes available financial support to graduate students from a variety of sources and in several different forms-fellowships (scholarships and research assistantships), and loans. Many forms of support are granted solely on the basis of merit while others are granted solely on the basis of financial need or a combination of merit and needs.
A fellowship is an award granted to graduate students to cover the tuition and stipend. Most awards are made on the basis of academic merit and in some instances financial need of the students. About 90% of graduate students in the College of Pharmacy are employed each year as research assistants. These research assistants get tuitions waived, and receive ~600,000 won every month for a year by the University. The recipients of the research assistants are determined on the basis of their research achievement. Additionally 30% of all enrolled graduate students receive scholarships, which wave the tuitions partially.
The Ministry of Education administers educational loans through designated banks. Amount needed to cover the tuition and fees may be loaned through these designated banks. The recipients must agree to pay back within the three years after graduation, with proper interest determined by the bank. The University also has its loan funds providing full coverage of tuition and fees, which the recipients must pay back with no interest within one year after the graduation.
Employment is available both on and off campus. The Office of Financial Aid keeps up-to-date listings of job opportunities open to students. Positions are usually available in the dining facilities, libraries, and laboratories on campus. On-campus employment pays 200,000 won a month, but those outstanding workers with four months or longer experience on the job will be awarded 300,000 won a month. The employment requires a minimum of 40 working hours a month.
The Ministry of Education offers a scholarship program for foreign students and Korean citizens residing in foreign countries. With recommendations from the Korean diplomatic missions near the applicant’s place of residence, foreign students may apply for exemption of matriculation fee, tuition, and facilities fee. The University also awards tuition scholarships to foreign students for academic excellence. The President awards these scholarships on the recommendation of the Student Guidance Center which functions as the foreign students advisor. Information on all financial resources is available from the Office of Financial Aid of the University.