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Busan Metropolitan City Now Accepting Applications for the 2025 Student Loan Interest Support Program (Starting July 7)

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Busan Metropolitan City (Mayor Park Heong-joon) announced that applications for the “2025 Busan Metropolitan City Student Loan Interest Support Program” will be accepted starting today (July 7).
Since 2016, the city has been providing interest support on student loans to reduce the financial burden on students.

The program will cover one year of interest accrued between July 2024 and June 2025 by directly paying it toward the principal and interest on the loan account.

Eligible applicants are students who have received loans from the Korea Student Aid Foundation and are:

• ●Currently enrolled or on a leave of absence from a university (graduate school included) located in Busan, or

• ●Recent graduates who are unemployed, living in Busan, and graduated within the last two years from a university located in Busan.

Applications must be submitted online through the Busan Youth Platform (young.busan.go.kr) from July 7 to August 29.

• ●Current students must submit documents verifying their enrollment or leave of absence.

• ●Graduates must submit proof of graduation, proof of residence in Busan, and unemployment status.

Required documents include:

• ●Certificate of enrollment or leave of absence for current students

• ●Certificate of graduation, resident registration, and health insurance qualification confirmation for graduates

• ○However, if the applicant consents to the use of shared administrative information, submission of the resident registration and health insurance documents is not required.

All documents except for the certificate of graduation must be issued after the official announcement date (July 7, 2025).

After verifying the eligibility of each applicant, the city will finalize the list of recipients and the amount of support, and plans to provide the interest payments in November.

Recipients will be notified via text message, and the supported amount can be individually confirmed on the Korea Student Aid Foundation’s website (www.kosaf.go.kr) or mobile app in November.

Further details can be found in the Public Notices section on the city website (www.busan.go.kr/nbgosi) or on the Busan Youth Platform (young.busan.go.kr/index). For inquiries, contact the 120 Dasan Call Center at ☎ 051-120.

Kim Gui-ok, Director General of the Youth and Industry-Academia Bureau, stated, “The Student Loan Interest Support Program aims to help university students in the region focus on their studies and job search with more stability. Busan Metropolitan City will continue to enhance educational opportunities for local youth and strengthen the foundation for nurturing regional talent, making Busan a city where young people choose to stay and grow.”

Last year (2024), the city supported student loan interest payments for 1,630 individuals, amounting to 190 million KRW.