Chilean president proposes education fund

SANTIAGO, Chile, July 6 (UPI) -- The government of Chile is considering a $4 billion education fund after weeks of student protests throughout the South American nation, officials said.

Chilean President Sebastian Pinera proposed an education fund that would award more grants and offer cheaper student loans, La Tercera reported Wednesday.

"It's time to stop the protests and recover the way to dialogue and agreements," said Pinera.

The fund originally was proposed after Pinera offered an education revitalization plan worth $75 million to public universities last week, which the Chilean Students Federation turned down.

The Chilean government would create the education fund using money from the Treasury and the Economic and Social Stabilization Fund.

Thousands of students and teachers began protesting in cities across Chile in April, demanding improvements to the education system.