[Jeongeup=Asia Economy Honam Reporting Headquarters Reporter Kim Jaegil] Jeongeup City in Jeonbuk announced on the 10th that it will promote the ‘University Student Loan Interest Support Project’ to alleviate the economic burden of university students (including those on leave) and help them focus on their studies.
The support target includes university students (including those on leave) who have an address in the city as of the application date and have received university student loans from the Korea Student Aid Foundation since 2017, regardless of household income.
However, students who receive full scholarship or loan interest support from other institutions such as the government, local governments, or companies are excluded.
The support amount covers all interest accrued in the first half of this year on student loans borrowed from the Korea Student Aid Foundation since 2017, and living expense loan interest is not eligible for support.
The application period is from the 16th of this month to the 30th of next month. Applicants can download the application form from the city’s website and submit the application form along with a certificate of enrollment (or leave of absence) and a resident registration certificate either by email or by visiting the Education, Sports and Youth Division of City Hall.
The city plans to review the submitted documents for eligibility, enrollment and graduation status, and loan information, and finalize the list of support recipients by October.
Once selected as a support recipient, the support amount will be transferred to the Korea Student Aid Foundation loan repayment account and processed as repayment of principal and interest.
The final selection results can be checked on the Korea Student Aid Foundation website.
A city official said, “The loan interest support project aims to reduce the economic burden on university student families and ensure equal educational opportunities. We hope many students can lessen their financial burdens and concentrate on their studies.”
Jeongeup=Asia Economy Honam Reporting Headquarters Reporter Kim Jaegil baekok@asiae.co.kr
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