Gyeonggi-do Supports College Students' Student Loan Interest... Applications Open Until the 19th of Next Month

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province is stepping up to support interest payments on student loans for university students.

Gyeonggi Province announced that it will accept applications for the 'Gyeonggi Province University Student Loan Interest Support' from the 11th of this month until the 19th of next month.

The support targets currently enrolled (including on leave) university and graduate students, as well as unemployed graduates, provided that at least one person among the applicant or their direct ascendants has been registered as a resident in Gyeonggi Province for more than one year.

For graduates, applicants must have graduated within 10 years after university graduation or within 4 years after graduate school graduation.

Applications can be submitted online through the Gyeonggi Minwon24 website. Mobile applications via smartphones are also possible. The results of the second half of this year's project and interest payments are scheduled for December. Eligibility can be checked on the Korea Student Aid Foundation website. For more details, inquiries can be made to the Gyeonggi Province 120 Call Center (031-120).

Once selected as a beneficiary, Gyeonggi Province will pay the interest accrued in the first half of this year (January to June) on tuition and living expenses loans borrowed from the Korea Student Aid Foundation since the second semester of 2010. Payments will be made by deducting from the principal and interest of the loan account.

Starting from the second half of this year’s application period, the province has implemented a one-stop application system by introducing an administrative information sharing system through 'Gyeonggi Minwon24,' linking resident registration abstracts and health insurance qualification certificates.

Lee Hwa-jin, Director of the Lifelong Education Bureau of Gyeonggi Province, stated, "Currently, due to rising prices and economic downturn, the financial burden on young people is increasing. We hope that the Gyeonggi Province student loan interest support project will serve as a foundation for young people to overcome these difficult times."

Meanwhile, in the first half of this year, 18.509 billion KRW was provided to 18,509 people through the 'Gyeonggi Province University Student Loan Interest Support' project.

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