Is the phrase Up for consideration a correct English?

Yes, "Up for consideration" is a correct English phrase. It means something is being thought about or reviewed for a possible decision.

Here are some examples of how it's used:

* "Your proposal is up for consideration at the next board meeting."

* "The candidates' applications are currently up for consideration."

* "We're keeping all options up for consideration."

It's a common and idiomatic phrase in both formal and informal contexts.