October 10, 2025 | 12:11 pm
TEMPO.CO, Jakarta - The Indonesian Ministry of Finance, through the Education Fund Management Agency (LPDP), announced that the institution's financial condition in 2025 has once again experienced a deficit. This situation arose from the high cost of scholarships and educational programs relative to the income generated by managing the endowment fund.
The Acting Chief Executive Officer of LPDP, Sudarto, explained that as of September 30, 2025, LPDP's income was recorded at Rp6.82 trillion. Meanwhile, the total expenditure reached Rp7.46 trillion. "Starting from 2023 and 2024, LPDP's expenditure was higher than its income," said Sudarto during a media gathering in Bogor, West Java, on Thursday, October 9, 2025.
Over the past two years, Sudarto stated that LPDP has recorded a deficit trend. In 2024, LPDP's income was Rp10.95 trillion with expenditures of Rp11.86 trillion. Meanwhile, in 2023, income reached Rp9.33 trillion, while expenditures reached Rp9.85 trillion.
He mentioned that a financial surplus situation at LPDP had occurred from 2020 to 2022. For example, LPDP's income reached Rp6.39 trillion in 2022, while expenditures totaled Rp4.93 trillion.
Despite the deficit, Sudarto ensures that LPDP's financial condition is still secure due to the continuously increasing balance of the endowment fund. Until the end of September 2025, he stated that the total endowment fund of LPDP reached Rp154.11 trillion, consisting of an Education Endowment Fund (DAP) amounting to Rp126.12 trillion, Research Endowment Fund (DAPL) Rp12.99 trillion, Higher Education Endowment Fund (DAPT) Rp10 trillion, and Cultural Endowment Fund (DAKB) Rp5 trillion. "The education endowment fund may face a deficit this year, but it can still be covered with the remaining income from previous years," said Sudarto.
He mentioned that this deficit is caused by an increase in the number of LPDP awardees in recent years. The government has increased the number of recipients to improve the participation rate in higher education in Indonesia.
"In 2023, the number of awardees was around 9,000; in 2024, around 8,000, because many were still pursuing their studies. This year, we only accepted around 4,000 new awardees. Hopefully, by 2027, the situation can return to normal," he said.
For 2025 and 2026, the government targets 4,000 or fewer LPDP awardees each year, compared to 8,592 awardees in 2024 and 9,358 awardees in 2023.
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