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2026 Busan Metropolitan City Student Loan Interest Support Program Opens for Applications Starting Today (July 6)

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Busan Metropolitan City announced that applications for the 2026 Busan Metropolitan City Student Loan Interest Support Program will open today (July 6).

The City has provided annual interest support since 2016 to help ease the repayment burden for students with student loans.

The program will cover one year's worth of interest accrued between July 2025 and June 2026 by applying the supported amount directly toward the outstanding principal and interest balance of each loan account.

Eligible applicants are undergraduate or graduate students attending universities in Busan who have received student loans through the Korea Student Aid Foundation, as well as unemployed graduates residing in Busan within two years of graduating from a university.

Applications may be submitted online through the Busan Youth Platform (young.busan.go.kr) from today (July 6) through August 28.

Current students and students on leave of absence must submit a certificate of enrollment or leave of absence. University graduates must submit a graduation certificate together with a certified copy of their resident registration and a Certificate of Health Insurance Eligibility. However, applicants who consent to the joint use of administrative information are not required to submit the certified copy of their resident registration or the Certificate of Health Insurance Eligibility.

Except for graduation certificates, all required documents must have been issued on or after the announcement date (July 6, 2026).

Following eligibility verification, Busan Metropolitan City will determine the final list of recipients and the amount of support, with loan interest scheduled to be provided in December.

Selected applicants will be notified by text message. The amount of support may be checked individually in February through the Korea Student Aid Foundation website (www.kosaf.go.kr) or its mobile application.

For more information, applicants may visit the Notices section of the Busan Metropolitan City website (www.busan.go.kr/nbgosi), the Student Loan Interest Support page on the Busan Youth Platform (young.busan.go.kr/index.nm?menuCd=49), or contact the Busan 120 Call Center at 051-120.

Since 2016, Busan Metropolitan City has provided a total of KRW 835 million in student loan interest support to approximately 34,940 recipients through 2025.

Kim Gwi-ok, Director General of the Youth and Industry-Academia Bureau, said, “The Student Loan Interest Support Program is intended to reduce the financial burden of tuition for local undergraduate and graduate students, enabling them to pursue their studies and job searches with greater stability. We will continue to provide diverse forms of support so that young people can remain in the region and build their future here.”