Jinju City Supports College Students with 'Student Loan Interest' Assistance

First Implementation This Year: Total Support of 14.14 Million KRW, Benefiting 356 University Students in Jinju City

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Jinju City, Gyeongnam Province, announced on the 15th that it will support the interest on student loans for local university students starting this year.

The city stated that it will implement the first half of 2021 student loan interest support project to alleviate the financial burden on university students and help them focus on their studies.

The support target is university students who have had their or their parents' residence registered in Jinju City for more than one year as of the end of last month, and applications will be accepted until the 4th of next month. The support covers the full amount of interest to be paid in the first half of this year on student loans received from the Korea Student Aid Foundation since 2016.

However, students who receive loan interest support from other institutions such as the government, local governments, or companies are excluded. The scope of student loan interest support covers interest incurred during the first half of this year (January 1 to June 30, 2021) on student loans received from the Korea Student Aid Foundation starting from the first semester of 2016.

The application period is from May 3 to June 4, and applications can be submitted on the Jinju City Hall website with the required documents attached. The city plans to confirm the eligibility and finalize the list of beneficiaries by July.

Detailed information about the application can be found in the announcement posted on the city’s website, and inquiries can be made to the Lifelong Learning Division of Jinju City Hall.

A Jinju City official said, "This is the first project implemented this year to reduce the interest burden caused by student loans for local university students," and added, "We hope many students apply and receive support."

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