Gwangyang-si Supports College Students with Student Loan Interest Assistance

Full Interest Accrued in 2021 on Student Loans Borrowed Since 2016

[Gwangyang=Asia Economy Honam Reporting Headquarters, Reporter Heo Seonsik] Gwangyang City in Jeollanam-do announced on the 2nd that it will promote the 2021 university student loan interest support project to reduce the educational expenses burden of local university students.

This year, the city added the loan interest support project application form to the Baegun Scholarship application documents so that more students can receive support.

Among university students applying for the Baegun Scholarship, those who have taken out student loans only need to fill out and submit the interest support application form, while students not applying for the scholarship must submit the interest support application form along with separate required documents.

The support target includes university students or students on leave who have taken out student loans (tuition and living expenses) from the Korea Student Aid Foundation since 2016, and both the parents and the student must be registered residents of Gwangyang City as of the announcement date (August 2, 2021).

However, students residing outside the area who have moved into rental housing to secure rights or who must transfer their residence to the school or the local government where the school is located to be eligible for on-campus scholarships or dormitory admission can apply by submitting supporting documents.

The support amount covers the full interest accrued in 2021 on student loans taken out since 2016, and if selected, the interest will be deducted from the principal and interest account of the Korea Student Aid Foundation loan.

Gwangyang=Asia Economy Honam Reporting Headquarters, Reporter Heo Seonsik hss79@asiae.co.kr

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