The Mongolian Study Abroad Market
In this Market Report on Mongolia we will cover socio-economics, educational and mobility trends. Mongolia is the 18th largest country in the world and has a population of over three million people. Mongolia is one of the fastest growing emerging economies, where the higher education sector is seen as a crucial means to help accelerate sustainable economic and social development.
Mongolian higher education has experienced a remarkable expansion since its transition from planned economy to open-market economy when Mongolia became a democratic country in 1990. Between 1991 and 2017, the number of higher education institutions(HEIs) grew from 14 to 113, and gross enrollment ratio in tertiary level grew from 14.0% to 69.0%.
Public expenditure on education is 18,3%. 10% is spent on higher education; mostly thru private expenditures through the payment of tuition fees, donations, and income generation (source: World Bank).Tuition fees are the largest source of financing for public higher education institutions, accounting for 70-85% of the total funds.
The student financial aid is provided from the semi governmental agency, the State Training Fund (STF). The financial aid provided from the STF includes tuition loans, grants, and scholar-ships. As of 2016, about 30% of students enrolled in higher education received some type of financial aid. All this and more in the Market Report on Mongolia.