Assemblyman Seodongyong: "COVID-19 Hits Youth Harder... Student Loan Delinquency and Health Issues"

Excess Student Loans and Increase in Long-Term Delinquents

Rapid Rise in Patients in Their 20s with Cervical and Spinal Disorders, Panic Disorder, and Depression

[Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik] Seo Dong-yong, a member of the National Assembly’s Education Committee from the Democratic Party of Korea (Jeonnam Suncheon-Gwangyang-Gokseong-Gurye (Eul) district), announced that an analysis of data received from the Korea Student Aid Foundation and the National Health Insurance Service revealed that the prolonged impact of COVID-19 has worsened the economic and health difficulties faced by young people.

Assemblyman Seo pointed out that due to COVID-19, there has been a serious increase in excessive student loans and long-term delinquencies among youth.

According to Seo, based on data from the Korea Student Aid Foundation, the number of long-term delinquents on student loans (over 6 months overdue) increased by 4,596 from 139,769 in 2019 to 144,365 in 2020, but the total delinquent amount decreased by 700 million KRW from 278.2 billion KRW to 277.5 billion KRW. By loan type, the number of long-term delinquencies on general student loans rose by 180 cases to 81,884 compared to 2019, while the delinquent amount decreased by approximately 6.3 billion KRW.

On the other hand, “For income-contingent student loans, the number of long-term delinquency cases in 2020 surged by 3,236 to 20,189 compared to 2019, and the delinquent amount increased by about 3.2 billion KRW. Income-contingent student loans require repayment obligations starting the year after a certain income is earned. The increase in delinquencies on income-contingent loans is attributed to young people who had income losing their jobs or being unable to pay due to other living expenses,” he analyzed.

Seo also pointed out that the health status of young people has been deteriorating since the COVID-19 crisis. An analysis of medical statistics from the National Health Insurance Service showed that over the past two years, the number of patients in their 20s with musculoskeletal disorders such as cervical and spinal diseases, as well as mental health disorders including panic disorder, depression, and insomnia, increased the most.

In 2020, the number of 20-somethings who received hospital treatment for cervical and spinal diseases was 209,882 and 655,328 respectively. Compared to 2019, cervical disease patients increased by 22,251 and spinal disease patients by 15,385.

Overall, due to COVID-19 restrictions on outdoor activities reducing physical exercise, and the shift to remote learning for university students resulting in prolonged sitting times, the number of musculoskeletal disorder patients among young people in their 20s appears to have increased.

The number of young people in their 20s suffering from mental health disorders such as panic disorder, depression, and insomnia also rose sharply. In 2020, 27,618 young people in their 20s visited hospitals for panic disorder treatment, an increase of 3,529 from the previous year. For depression, the number of 20-somethings seeking hospital care reached 143,069, nearly doubling over five years. Insomnia cases also significantly increased among this age group. Among age groups from teens to 50s, the increase was most pronounced in those in their 20s.

Over the past five years, the total number of emergency room visits by young people in their 20s following suicide or self-harm attempts reached 37,659. Among these, in 2020, when the COVID-19 crisis fully began, there were 10,007 suicide or self-harm attempts by 20-somethings, a sharp increase of 1,275 cases compared to 2019. Deaths also rose from 203 in 2019 to 213 in 2020. Among all age groups, only the 20s age group showed annual increases in both suicide/self-harm attempts and deaths.

While health problems among young people in their 20s are increasing, their health screening participation rate has sharply declined. In 2020, the health screening rate for 20-somethings was 58.1%, down 5.4% from 2019. The low screening rate is attributed to insufficient promotion of the system and reluctance to visit hospitals due to COVID-19.

Regarding this, Assemblyman Seo Dong-yong said, “With the employment crisis compounded by COVID-19, young people in Korea are going through an extremely difficult time. Since youth are in a transitional phase from school to the labor market, they are more severely and longer affected by COVID-19 than other groups.”

He continued, “The problems young people face during the COVID crisis are complexly intertwined with jobs, education, military service, and welfare. It is crucial to develop diverse policies and support systems that are organically coordinated. To this end, each ministry should first establish dedicated youth units with expertise to incorporate young people’s concerns into policies and build the capacity to implement them.”

Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik hss79@asiae.co.kr

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