Gyeonggi-do Accepts Student Loan Interest Applications Until Next Month 6th... 117,000 Beneficiaries

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province is accepting applications for the second half of this year's 'Gyeonggi Province University Student Loan Interest Support' until the 6th of next month.

The support targets tuition and living expenses loans taken from the Korea Student Aid Foundation since the second semester of 2010.

The province will support by repaying the interest accrued in the first half of this year from the principal and interest of the loan account.

Eligibility includes university and graduate school students (including those on leave) and graduates, with at least one person among the applicant or their direct ascendants registered as a resident in Gyeonggi Province for more than one year.

Applications can be submitted online through the Gyeonggi Civil Service 24 website. Mobile applications via smartphones are also possible. The results of the second half of this year's program and interest payments are scheduled for December.

For more details, inquiries can be made to the Gyeonggi Province 120 Call Center.

Following the pledge of Gyeonggi Province Governor Lee Jae-myung, since the second half of 2018, Gyeonggi Province became the first local government nationwide to abolish the income limit that only supported households in the 8th income quintile or below.

Additionally, since 2019, the scope of beneficiaries has been expanded to include graduate students and graduates facing difficulties in employment. Last year, the support period for graduates was extended up to 10 years, making it the largest and broadest support among local governments nationwide. As a result, from 2018 to the first half of this year, 117,000 people received 11.3 billion KRW in support.

Park Seung-sam, Director of the Lifelong Education Bureau of the province, emphasized, "We believe that young people preparing for employment are struggling due to the prolonged COVID-19 crisis and the resulting economic downturn. Gyeonggi Province will continue to strive to ensure that young people can focus on their studies and job preparation."

The province is alleviating the economic burden on youth through projects such as Gyeonggi Province Dormitory and Basic Youth Income, and plans to further expand youth support in the future.

This content was produced with the assistance of AI translation services.