Korea Student Aid Foundation Offers 40 Million Won Student Loans at 1.7% Interest for Academic Credit Bank System Learners at Educational Training Institutions

Applications Accepted Until October 23

The Ministry of Education and the Korea Student Aid Foundation (Chairman Bae Byungil) announced on August 4 that they are accepting applications for student loans for Academic Credit Bank System learners enrolled in educational and training institutions, such as university-affiliated lifelong education centers and vocational training schools, for the second semester of the 2025 academic year until October 23.

The Korea Student Aid Foundation, a quasi-governmental organization under the Ministry of Education established in 2009, provides professional and comprehensive financial support for higher education so that anyone can have educational opportunities regardless of their economic circumstances or background. With an annual budget exceeding 11 trillion won, the Foundation implements a variety of programs to nurture future talent, including national scholarships, student loans, national work-study scholarships, national excellence scholarships, donations, and mentoring programs.

Learning Bank System Learner Student Loan Application Promotional Material

Academic Credit Bank System learners can apply for student loans directly through the Korea Student Aid Foundation website or mobile app.

To improve convenience for applicants, starting from the second semester of the 2025 academic year, student loan applications will be available from 9:00 to 24:00, even on weekends and public holidays.

When applying for a student loan, learners should check the specific application and execution periods according to the academic schedule of their educational and training institution, as there may be separate designated dates.

The student loan program for Academic Credit Bank System learners was first introduced in the first semester of the 2023 academic year to reduce the financial burden on learners and to reflect the social demand for higher lifelong education.

Student loans for tuition fees (up to 40 million won per person) are provided to learners enrolled in accredited courses at educational and training institutions designated by the Minister of Education as eligible for student loan support.

Considering the unique nature of the Academic Credit Bank System, where learners may take courses at multiple institutions according to their learning goals, loans can be obtained from up to two institutions.

The student loan interest rate for Academic Credit Bank System learners for the second semester of the 2025 academic year is set at 1.7%, allowing learners to access student loans at a low interest rate.

Bae Byungil, Chairman of the Korea Student Aid Foundation, stated, "We are supporting student loans at a low interest rate of 1.7% to alleviate the financial burden on Academic Credit Bank System learners," and added, "Through the provision of ultra-low interest student loans, we will continue our efforts to contribute to learners' successful entry into society by expanding various learning opportunities."