Seoul City Supports Student Loan Interest for First Half of Year... Apply by September 15
[Asia Economy Reporter Lim Cheol-young] The Seoul Metropolitan Government announced on the 19th that it will accept applications for student loan interest support for the first half of this year until September 15.
The applicants must be university (graduate school) students currently enrolled or residents of Seoul within five years after graduation who have received student loans from the Korea Student Aid Foundation. The Seoul Metropolitan Government's student loan interest support program for university (graduate) students started in 2012 to alleviate debt issues faced by young people burdened with high-cost university tuition loans by providing support for student loan interest.
Anyone who is a resident of Seoul according to their resident registration and is a university (graduate) student nationwide (including students on leave, supported up to six semesters) or within five years after graduation can apply through the Youth Mongttang Information Portal.
The support scope targets multi-child families and those whose income was in the 8th decile or lower at the time of the loan. Whether support is granted and the amount will be finalized in mid-December and provided not as a direct deposit to personal accounts but as repayment processing on the loan account. The support status and repayment amount can be checked on the Korea Student Aid Foundation website after support is completed.
Hot Picks Today
"Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Don't Throw Away Coffee Grounds" Transformed into 'High-Grade Fuel' in Just 90 Seconds [Reading Science]
- Kakao Union: "All Five Unions, Including Headquarters, Approve Strike Vote"
- "Groups of 5 or More Now Restricted"... Unrelenting Running Craze Leaves Citizens and Police Exhausted
- "Even With a 90 Million Won Salary and Bonuses, It Doesn’t Feel Like Much"... A Latecomer Rookie Who Beat 70 to 1 Odds [Scientists Are Disappearing] ③
The Seoul Metropolitan Government explained, "For general repayment student loan borrowers from multi-child families and those with income in the 7th decile or lower at the time of the loan, the interest will be fully supported. For general repayment student loan borrowers with income in the 8th decile or lower, income-contingent repayment student loan borrowers, and graduate students, the scope and scale of support will be determined by the Seoul Metropolitan Government Student Loan Interest Support Deliberation Committee within the budget limits."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
