This paper is to analyze the size of Busan Metropolitan City Office of Education Special Account and Educational finance Changes based on the welfare types from 2009 to 2013. It also identifies the impact on welfare finance education programs that target low-income students. The size of Education welfare finance was increased to 355.3 billions (2013) from 90.9 billions (2009), with the last 5 years average annual growth rate as high as 41.9%. But there has been relative decrease in the size of selective welfare budget for low income students such as tuition assistance & IT support to low-income and vulnerable groups, rural schools support to improve facilities, education welfare priority program. The finding suggests that the size of selective welfare budget should not be decreased due to universal education welfare policy. If it is to expand the universal education welfare, then there should be redesigning of local educational finance and further revenue for local education finance to keep the budget for the education welfare target groups.