Busan City Recruiting Applicants for 'Student Loan Interest Support Program for University and Graduate Students'

Student Loan Interest Support for July 2023 to June 2024

Apply at Busan Youth Platform from the 5th to September 6th, support scheduled for December

Busan City will begin accepting applications for the '2024 Busan City University (Graduate) Student Loan Interest Support Program' starting from the 5th.

2024 University (Graduate) Student Student Loan Interest Support Program Poster.

Since 2016, the city has been providing loan interest support to reduce the financial burden on students who have taken out student loans.

The support will be provided by repaying one year’s worth of student loan interest, accrued from July 2023 to June 2024, directly from the principal and interest of the loan account.

Eligible applicants are those who have received a student loan from the Korea Student Aid Foundation and are either: ▲currently enrolled or on leave of absence at a university (including graduate school) located in Busan, or ▲graduates who reside in Busan and are unemployed within two years of graduating from a university in Busan.

Applications can be submitted through the Busan Youth Platform from the 5th until September 6th. ▲Current students or those on leave must submit documents verifying their status, while ▲graduates must submit documents verifying graduation, Busan residency, and unemployment status.

Required documents are: ▲for current students or those on leave, a certificate of enrollment (or leave of absence); ▲for graduates, a graduation certificate, a copy of resident registration, and a certificate of health insurance qualification and employment status.

All documents, except for the graduation certificate, must have been issued after the announcement date (August 5, 2024) to be accepted.

The city will confirm the eligibility of each applicant, determine the recipients and the amount, and provide loan interest support in December.

The status and amount of loan interest support can be checked individually on the Korea Student Aid Foundation website or app in December, and recipients will also be notified via text message.

For more details, refer to the city’s official website notices, the 'Student Loan Interest Support' section on the Busan Youth Platform, or contact the Busan City 120 Baro Call Center.

Kim Guiok, Director of the City’s Youth Industry-Academia Bureau, stated, "The student loan interest support program aims to support stable academic and job-seeking activities for local university students," adding, "The city will continue to make efforts to foster 'Busan as a city of local industry-academia talent' through various policies."

Last year (2023), the city supported a total of 2,322 students with 231 million KRW in student loan interest.

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