Loans · Finance

Income-Contingent Student Loan (Deundeun Student Loan) (취업 후 상환 학자금대출): How to Apply, Amount & Eligibility (2026)

Full tuition + living expenses of KRW 2,000,000 per semester (KRW 4,000,000 per year), interest rate 1.7% per year (frozen for 6 consecutive years)

This page is a translation of the Korean original and is for reference only. The official Korean guidance is the authoritative source for amounts and conditions, so be sure to confirm on the official website before applying. View Korean original (한국어)

Benefit: From January 2026, the income requirement for tuition loans has been abolished (all brackets, undergraduate and graduate). Tuition loan limits range from KRW 61,000,000 to KRW 120,000,000 depending on the school system; living expense loans are KRW 4,000,000 per year (KRW 2,000,000 per semester; total of KRW 24,000,000 to KRW 48,000,000 depending on the school system). Living expense loans for graduate students are expanded to Bracket 6 or lower. Interest rate 1.7% (variable); interest before mandatory repayment accrues daily.
Who is eligible: Undergraduates (aged 35 or younger), professional master's students and graduate students (aged 40 or younger) at partner higher education institutions; grade and income requirements are relaxed.
When to apply: Applications for the 2nd semester of academic year 2026 run July 1 - Nov 17, 2026 (in progress). The 1st semester of academic year 2027 usually opens from late December to January (not yet announced).
How to apply: Online via the Korea Student Aid Foundation (한국장학재단) website or app (kosaf.go.kr). Consultation 1599-2000.
Important notes: The application deadline for the 2nd semester loan is Nov 17, 2026. If your income after graduation exceeds the threshold, mandatory repayment is made through the National Tax Service.
Note: If income is at or below the repayment threshold income, repayment of principal and interest is deferred. Living expense loans for Brackets 1-4 are interest-free before mandatory repayment. Interest waiver recipients (Bracket 6 or lower, etc.) are covered in a separate item.

Go to the official guide →

Based on official sources as of 2026년 10월. Amounts and requirements may change, so please confirm with the official guide before applying.

Frequently asked questions

Income-Contingent Student Loan (Deundeun Student Loan) (취업 후 상환 학자금대출): who can receive it?

Undergraduates (aged 35 or younger), professional master's students and graduate students (aged 40 or younger) at partner higher education institutions; grade and income requirements are relaxed.

Income-Contingent Student Loan (Deundeun Student Loan) (취업 후 상환 학자금대출): how do I apply?

Online via the Korea Student Aid Foundation (한국장학재단) website or app (kosaf.go.kr). Consultation 1599-2000.

Income-Contingent Student Loan (Deundeun Student Loan) (취업 후 상환 학자금대출): how much will I receive?

From January 2026, the income requirement for tuition loans has been abolished (all brackets, undergraduate and graduate). Tuition loan limits range from KRW 61,000,000 to KRW 120,000,000 depending on the school system; living expense loans are KRW 4,000,000 per year (KRW 2,000,000 per semester; total of KRW 24,000,000 to KRW 48,000,000 depending on the school system). Living expense loans for graduate students are expanded to Bracket 6 or lower. Interest rate 1.7% (variable); interest before mandatory repayment accrues daily.

Income-Contingent Student Loan (Deundeun Student Loan) (취업 후 상환 학자금대출): when can I apply?

Applications for the 2nd semester of academic year 2026 run July 1 - Nov 17, 2026 (in progress). The 1st semester of academic year 2027 usually opens from late December to January (not yet announced).