Gyeonggi Province is accepting applications for support on university student loan interest.
Gyeonggi Province announced that from the 1st of this month until the 16th of next month, it will recruit applicants for the second half of this year’s ‘Gyeonggi Province University Student Loan Interest Support’ through Gyeonggi Minwon 24.
This project supports interest on student loans, tuition, and living expenses borrowed from the Korea Student Aid Foundation since the second semester of 2010, divided into the first and second halves of the year. This time, it targets interest accrued in the first half of this year (January to June 2024).
Eligible applicants are university and graduate school students (including those on leave of absence) and unemployed graduates. Either the applicant or at least one direct ascendant must have continuously resided in Gyeonggi Province for more than one year according to resident registration. Graduates can receive support within 10 years of university graduation or within 4 years of graduate school graduation.
Applications can be submitted online or via mobile at Gyeonggi Minwon 24 (gg24.gg.go.kr). With consent to administrative information sharing, the applicant’s resident registration transcript and health insurance qualification certificate are automatically linked, making the application process more convenient.
Results announcement and interest payment will be made at the end of December after document review. Support is provided by depositing the interest into the Korea Student Aid Foundation loan account, which is then deducted from the principal and interest balance.
Park Geun-gyun, Director of the Gyeonggi Province Lifelong Education Bureau, stated, "The student loan interest support project was first implemented nationwide by Gyeonggi Province in 2010 and is now the largest scale support in the country. We will continue to provide maximum support so that residents can focus on their studies and employment."
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