First, ₩100,000 (US $87) was provided in cash in August 2020 as a cost-of-living grant to all 5,281 students who registered for the first semester. The remaining ₩200,000 (US $175) will be reduced from tuition fees of students who register for the fall semester as a tuition scholarship. Those who are planning to take the upcoming semester off can receive the same tuition waiver when they return to school.
The total budget for the COVID-19 relief scholarship is ₩1.43 billion (approximately US $1.2 million). The financial resources have come from the university’s academic scholarship budget. The school explained, “We did not have the midterm exam during the first semester due to COVID-19, so it was difficult to accurately evaluate academic performance as we had done before the pandemic. As a result, we decided not to offer merit-based scholarships to students this semester.”
Faculty members of Sahmyook University also made a contribution to the scholarship fund. A total of 236 people, including 138 professors and 98 staff, participated in the COVID-19 relief scholarship fund, raising about US $63,000.
“We hope this special scholarship will help ease the financial burden for students,” says Kim IlMok, president of Sahmyook University. “I appreciate all the employees who participated in the scholarship fund, professors who have been doing their best to provide education for their students by holding classes online, and students who do not lose hope and pursue their studies. I hope that all of us will continue to pull together to overcome difficult times.”