Indonesian Ministry of Education Launches Independent Learning Program Episode 21; College Endowment Fund

JAKARTADAILY.ID – Indonesian Ministry of Education and Education Fund Management Institute (LPDP) collaborate to launch the Merdeka Learning Episode 21: Higher Education Endowment Fund.

This collaboration aims to provide funding allocation from the Higher Education Endowment Fund to support Legal Entity State Universities (PTNBH) to become world-class universities.

“The Ministry of Education and Technology and LPDP will match the increase in endowment funds in the form of principal funds and investments that have been raised," said Education Minister, Nadiem Anwar Makarim, in a press statement, Monday 27 June 2022.

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The allocation of funding for the improvement of PTNBH towards world-class universities is divided into three periods of program funding allocation.

The first period is from June 2 to December 31, 2022, with a total fund of Rp 445 billion, the second period is from January 1, 2023, to December 31, 2023, with a total fund of Rp 350 billion and the third period is from January 1, 2024, to December 31 with a total fund of Rp 500 billion.

“The Higher Education Endowment Program is targeted at PTNBH as a legal entity that can manage financial assets independently. Each PTNBH must increase its source of income beyond government assistance and a single tuition fee,” said Minister Nadiem.

Also Read: Edufecta Lauded by Nadiem for Connecting Universities Through its Online Platform

In addition to university scholarships, the Merdeka Learning Episode 2 will also launch a supporting ecosystem in the form of policies and systems to build university governance that is globally competitive.

These policies include policies such as the New Credit Score Rating System, Research and Community Service Information Database and Information (BIMA), Science and Technology Index version 3 (SINTA), as well as the WCU Analytics System, and PTNBH Analytics.

"With a strong collaboration between the government, the community, and the private sector, Indonesia has the opportunity to catch up with the funding gap in higher education because innovation can only be created through collaboration," said Nadiem.

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