Ulsan Graduate Students to Receive Student Loan Interest Support

Ulsan City Recruiting University and Graduate Students Until August 9

Ulsan City is launching a program to support the interest payments on student loans for university and graduate students.

Ulsan City announced that from July 4 to August 9, applications will be accepted for the 2024 first half student loan interest support program for university and graduate students.

Eligible applicants are students currently enrolled or on leave of absence from universities or graduate schools in Ulsan, whose resident registration address, or that of their immediate family, is in Ulsan as of the announcement date (July 4).

The support covers interest accrued in the first half of this year on student loans (tuition and living expenses) borrowed from the Korea Student Aid Foundation since 2017.

From this round, the scope of support has been expanded to include graduate students as well as undergraduates, following a revision of the relevant ordinance.

Applicants must prepare documents such as a copy of their resident registration and a certificate of enrollment (or leave of absence) from their university or graduate school, and apply through the Ulsan City website. Previous recipients must also reapply with the required documents to receive support.

The results of the selection will be available on the Korea Student Aid Foundation website in December.

An official from Ulsan City stated, "We hope that this interest support program will help many young people reduce the burden of student loan interest and allow them to focus on their studies with greater stability."

Since the launch of the student loan interest support program in 2017, Ulsan City has provided approximately 224 million won in support to 4,688 students.