Don't Forget to Apply for 'Hakjakum Daechul Interest Support'!

Gyeongnam Province to Pay Interest for the First Half of the Year to University and Graduate Students

Gyeongnam Provincial Government. / Photo by Se-ryeong Lee ryeong@

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Seryeong] Gyeongsangnam-do has encouraged university and graduate students in the province to apply for interest support on student loans from the Korea Student Aid Foundation.

This program, implemented to reduce the tuition burden for university students in the province, supports interest accrued during the first half of this year from January to June 2022.

It targets young people residing in the province who are enrolled or on leave at universities or graduate schools located within the province.

Applicants must have received either the ‘Income-Contingent Student Loan’ or the ‘General Repayment Student Loan’ from the Korea Student Aid Foundation and belong to the 8th income bracket or below, or be from a family with three or more children.

Starting this year, the ‘Special Act on Student Loan Repayment after Employment’ has been revised to expand the scope of interest exemption recipients, allowing graduate students to also benefit.

Documents Required for Applying for Interest Support on Student Loans from the Korea Student Aid Foundation.

Applications must be submitted directly by the applicant by the 16th through the Gyeongnam Baro Service, attaching necessary documents such as a resident registration certificate and proof of enrollment or leave.

If selected, the support funds will be deposited into the Korea Student Aid Foundation’s student loan repayment account, and applicants can check the support details on the Korea Student Aid Foundation website.

Gyeongsangnam-do has been providing interest support on student loans annually since 2009 to help university students in the province focus on their studies by alleviating tuition burdens, having supported approximately 4,910 students with about 3.2 billion KRW up to last year.

Oh Jongsu, the education officer, said, “Our province supports student loan interest so that students can concentrate on their studies in a stable educational environment, so we hope they do not miss this opportunity and apply actively.”

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