- Korean nationals (excluding those registered as overseas emigrant, permanent residents, and overseas Koreans *) who are undergraduate and graduate students (including students who are entering or about to return)
- However, overseas Korean living in Korea are allowed for regular repayment student loan.
- Student loan available to those gave up emigration or permanently returned an registered in Korea
- 55 years old or below as of the date of loan application. * However, students who are enrolled in a university before the age of 55 and continue their education without interruption can borrow regular repayment student loans up to 59 years old(including those who are enrolled at the age of 56 and continuing their studies), but cannot apply for loans after completion of the degree program
Grade and Number of Credits Completed
- New students, transfer students, re-entry students
- Pass the criteria grades and credits by the "admission" of the university
- Student loan limited in case of credit bank system and non-degree course
- Those who have completed the minimum credits (12 credits) and achieved 70 or above (out of 100 points) in the previous semester.
- Final-year students, graduate students, and disabled students are exempted from this criterion.
- Credits earned from the credit bank system are not accepted ((part-time, full-time).
- If a student’s university's minimum number of credits per semester is less than 12 credits per academic year, the university's academic regulations prevail.
- Those who completed academic requirements without earning degree and taking further credits and those who are enrolled in non-degree course have limitation regarding student loans.
Income interval (quartile) criteria
- Income interval (quartile) irrelevant
- However, for students from multi-child families (more than 3 children), repayment after employment is available (for the first and second child as well)
- If you wish to have a student loan before the income limit (quartile) is confirmed due to reasons like your enrollment (planned) school’s tuition payment period final deadline, you can make a regular repayment student loan. Go to pre-approval guide
Subject to loan restriction
- Duplicate application, poor document submission, or those with outstanding tuition or loan difference, and etc. When applying for loan, those with credit crunch can be restricted from regular repayment student loan until resolution.
1. Preparation for loan
Issuance of Accredited Certificate for Application of Student Loan
Guide to Issuance of Accredited Certificate
2. Request for loan
Fill out the Regular/ After Employment / Rural Application Form
Fill out Application Form
3. Financial Training
Completion of e-learning when applying for student loan (required)
4. Request Completed
Agreement from household member necessary for loan approval in case of undergraduate (When the household member agreement is incomplete)
Household member agreement
5. Document Submission
Submit documents related to family information for income interval (quartile) identification (Submit when necessary
Documents to be submitted
6. Loan Approval
Confirmation of loan examination results and special recommendation for those who did not make examination requirements
Individual payment of tuition/living expense through accredited certificate
Visit Korea Scholarship Foundation homepage(http://www.kosaf.go.kr)for more information