(The fund can be used for a variety of purposes) Ranging from improving the quality of human resources, pay for non-civil servants, learning and research facilities quality improvement, to research and innovation programsJakarta (ANTARA) - The Presidential Staff Office has said that the higher education endowment program is meant to improve the quality of national universities, as per President Joko Widodo's directives.
The endowment fund would help universities gain financial independence and allow them flexibility in financial management to fund their programs, Main Expert Staff of the Presidential Staff Office, Agung Hardjono, said in a press release on Wednesday.
“(The fund can be used for a variety of purposes) Ranging from improving the quality of human resources, pay for non-civil servants, learning and research facilities quality improvement, to research and innovation programs," he added.
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In the early stage, legal entity state universities will receive a basic allocation of Rp6 billion as investment and they will be motivated to raise funds from the private sector and alumni every year, he said.
The universities will only receive incentives in accordance with the increase in the principal amount and the management of the endowment’s investment.
The Education, Culture, Research, and Technology Ministry and the Indonesia Endowment Fund for Education will adjust the increase in the endowment fund in the form of principal funds and investments garnered.
"So, in the future, legal entity state universities must increase their sources of income beyond government assistance and single tuition fees," he said.
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He further said he is positive that a collaboration between the government, the public, and the private sector would enable universities to meet the financial needs in the higher education system, as some foreign universities have done.
The Education, Culture, Research, and Technology Ministry launched the 21st episode of Merdeka Learning on Monday (June 27, 2022), in collaboration with the Indonesia Endowment Fund for Education. The episode covered the higher education endowment fund.
The funding disbursement will be divided into three separate periods: Rp445 billion will be provided in the first allocation period from June 2 to December 31, 2022; Rp350 billion will be disbursed in the January 1–December 31, 2023, period; and Rp500 billion in the period from January 1 to December 31, 2024.
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Translator: Rangga Pandu A J, Mecca Yumna
Editor: Fardah Assegaf
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