Loan Eligibility, Application Period, Etc.
Division | Student loan to be repaid after Employment | General repayment student loan | |
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Eligible Applicant | Target | Undergraduates of Higher Education Institutions in Korea, agreed with the Ministry of Education or Foundation (Graduate school, Academic Credit Bank Institution, Foreign University are excluded) | Undergraduates and Graduate students of Domestic Higher Education Institutions (Except Educational Institutions with Credit Bank System and Foreign Universities) |
Age | 35 years old or younger (Up to 45 years old) | 55 years old or younger (Students admitted before 55 years old up to 59 years old) | |
Performance Criteria |
For the disabled, GPA and credits requirements are exempted |
For the disabled, GPA and credits requirements are exempted |
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Income Criteria | Within 8th Income Quartile However, students from multi-family households are exempted |
No limit on Earning Section | |
Credit requirements | No requirement (Including Financial Defaulter, Poor credit ratings) low credit) | Students in delinquent of student loans and Financial Defaulter are not eligible | |
Interest Rate | Variable rate (2.20% per year) | Fixed rate (2.20% per year) | |
Loan Terms |
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Loan Period |
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Selective from Maximum 20 Years (10 years deferment + 10 Years redemption) | |
Repayment Method |
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Early repayment is possible (No fees incurred) |
How to apply
- Application and execution on the Student Loan Portal (www.kosaf.go.kr)
- Login-Visit homepage (www.kosaf.go.kr), Login (ID, Password)
- Click the button to apply -Click Munu to apply for Student Loan → Click to fill out Application button
- Agreement and Pledge-'Consent to Collection, Use, Provision and Inquiry of Personal (Credit) Information', Accept 'Applicant Agreement'
- Application Information-Enter school information, personal and family information (Unmarried: Parent information, Married: Spouse Information)
- Loan Application-Select the Student Loan CheckBox
However, 'Consent of household members' is required at the time of application for judging Earning Section (Quantile)
- During the registration period, visit the Korea Scholarship Foundation Website to confirm the loan approval before the execution.
- Payment of tuition (Tuition will be transferred directly to the University from Korea Scholarship Foundation)
- Registration can be confirmed on the following day after the execution
Due to no small number of connections, there is a concern about computer failure, so please apply in advance to avoid inconvenience.
Inquiry for details for the Student Loan
Korea Scholarship Foundation website (http://www.kosaf.go.kr), Call Center : 1599-2000