Student Loan Interest for University Students in Gwangju Area Supported Up to 5 Years After Graduation

Councilor Jang Yeon-ju's Representative Amendment Passed Environmental Welfare Committee Review

[Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] The “Partial Amendment Ordinance on Interest Support for University Student Loans in Gwangju Metropolitan City,” proposed by Gwangju Metropolitan City Council member Jang Yeonju, has passed the review of the Council’s Environment and Welfare Committee.

The main content of the amended ordinance is the expansion of the target for university student loan interest support from the existing “students enrolled or on leave at universities or graduate schools” to “undergraduate and graduate students, as well as graduates within five years after graduation, whose themselves or direct ascendants reside in Gwangju Metropolitan City.”

The scope of loan interest support now includes graduates and extends the residency requirement to cases where direct ascendants reside in Gwangju.

Council member Jang said, “I proposed the amendment to expand the target for student loan interest support in order to assist young people facing prolonged unemployment and debt problems due to student loans, supporting their stable job-seeking activities.”

The Environment and Welfare Committee plans to increase the budget for university student loan interest support in the 2022 Gwangju city budget review, so that applicants from next year can benefit.

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