The government has selected 43 colleges nationwide for which it will restrict providing financial support starting next year.

The Ministry of Education, Science and Technology announced the list on Monday as part of its efforts to restructure the nation's universities. Schools on the list will not be allowed to expand their student body for their health and welfare departments.

Among the 43 universities are nine four-year universities and eight vocational colleges whose students will not be eligible for college loans next year.

In particular, the education ministry will conduct a due diligence on the 17 colleges and select poorly managed schools by the end of the year, which will face suspension of operations or merging with other schools.