MOE promotes youth education and employment savings account project

  • Date: 2016-10-13
  • Source: Department of Information Services, Executive Yuan

At  today’s  Cabinet  meeting  Premier  Lin  Chuan  listened  to  a  Ministry  of  Education  (MOE)  report  promoting  its  youth  education  and  employment  savings  account  project.

The  project  is  designed  to  help  young  people  reach  their  potential  based  on  aptitude  and  capabilities,  offering  incentives  to  encourage  senior  high  school  graduates  to  first  gain  experience  in  the  workplace  or  participate  in  international  activities  before  deciding  whether  to  pursue  higher  education,  seek  formal  employment  or  start  a  business.  This  should  help  bridge  the  gap  between  academic  studies  and  practical  applications,  and  foster  all-round  competitiveness  among  young  people.

According  to  the  MOE,  the  project  will  be  launched  in  August  of  2017  for  a  three-year  trial  run,  with  5,000  senior  high  school  graduates  selected  to  take  part  annually.  In  addition  to  receiving  guidance  on  career  planning,  they  will  also  have  opportunities  to  take  on  international  volunteer  work  or  go  to  rural  areas  to  provide  social  services.  Such  social  experiences  should  help  these  students  better  understand  their  goals  in  life  when  they  return  to  school.

Under  the  program,  complementary  measures  will  also  be  available  to  help  resolve  other  issues  that  participants  may  face  such  as  pursuing  tertiary  education,  retaining  student  status,  suspension  of  studies,  credit  transfers  and  military  service.  Young  people  participating  in  the  program  will  receive  a  monthly  subsidy  of  NT$10,000  (US$318).  If  they  participate  for  all  three  years,  they  would  thus  receive  a  total  of  NT$360,000  (US$11,436).

The  MOE  expects  15,000  students  to  receive  subsidies  from  a  projected  total  program  budget  of  NT$7.2  billion  (US$228.7  million),  including  NT$2.7  billion  (US$85.8  million)  disbursed  by  the  MOE  for  schooling,  employment  and  business  launches,  and  outlays  of  NT$4.5  billion  (US$142.9  million)  by  the  Ministry  of  Labor  to  fund  youth  employment  and  employers  who  hire  students  as  apprentices.