"Student Loan Interest Support Offered" ... Busan City Accepts Applications from Local University Students and Graduates

Applications accepted until the 19th, one year of student loan interest received this year

4.6 billion KRW support for about 6,000 borrowers from Korea Student Aid Foundation loans

Busan City Hall.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Busan City is conducting the ‘Student Loan Interest Support Project’ until the 19th to support stable academic studies and job-seeking activities for students and graduates of universities in the Busan area.

The student loan interest support project, which has been implemented since 2016, expanded its target to include graduate students and graduates starting last year.

Last year, a total of about 410 million KRW was provided to 5,528 people, and this year, about 460 million KRW will be provided to about 6,000 people.

The support targets are university and graduate students enrolled or on leave at universities located in the Busan area who have taken out student loans since 2016, and unemployed graduates after November 1, 2019.

For detailed eligibility requirements, please refer to the Busan Youth Platform on the Busan City website.

Busan City will confirm the eligibility of applicants by verifying enrollment status in universities (graduate schools), graduation date, income bracket, loan information, etc., and finalize the recipients to support the loan interest in December.

The support amount is the one-year student loan interest incurred in 2021, and Busan City will directly repay it to the Korea Student Aid Foundation.

Whether the interest repayment has been made can be checked on the Korea Student Aid Foundation website, and individual notifications will be sent via text message in December.

Park Hyung-jun, Mayor of Busan, said, “We will create a stable academic and job-seeking environment for local students to attract talent from outside the region and establish a foundation for settlement,” and added, “We will expand practical support projects.”

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