Loans · Finance

Korea Scholarship Foundation Student Loans (한국장학재단 학자금대출) – Income-Contingent Repayment and Expanded Interest Waiver: How to Apply, Amount & Eligibility (2026)

Student loan rate 1.7% per year, full tuition + living expenses up to KRW 2 million per semester

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: Second semester of 2026: full required amount of tuition loan, living expense loan up to KRW 2 million per semester, interest rate 1.7% per year. From 2026, the income-contingent repayment tuition loan is available to undergraduate and graduate students without an income requirement; the living expense loan is for undergraduates in student aid bracket 8 or below and graduate students in bracket 6 or below. Basic livelihood recipients, near-poverty group, multi-child households, those at or below 130% of median, and local university students at or below 200% of median get interest waived on tuition and living expenses (effective 11/20).
Who is eligible: University (graduate) students who meet grade and income criteria.
When to apply: Second semester 2026 applications until 11/17 (18:00), disbursement until 11/18.
How to apply: Korea Scholarship Foundation (한국장학재단) https://www.kosaf.go.kr website and app (9:00-24:00 on weekdays and weekends)
Important notes: Second semester applications close 11/17. Expanded interest waiver takes effect 11/20.
Note: Income-contingent repayment starts after graduation on income above the reference income. The rate changes each semester.

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

Korea Scholarship Foundation Student Loans (한국장학재단 학자금대출) – Income-Contingent Repayment and Expanded Interest Waiver: who can receive it?

University (graduate) students who meet grade and income criteria.

Korea Scholarship Foundation Student Loans (한국장학재단 학자금대출) – Income-Contingent Repayment and Expanded Interest Waiver: how do I apply?

Korea Scholarship Foundation (한국장학재단) https://www.kosaf.go.kr website and app (9:00-24:00 on weekdays and weekends)

Korea Scholarship Foundation Student Loans (한국장학재단 학자금대출) – Income-Contingent Repayment and Expanded Interest Waiver: how much will I receive?

Second semester of 2026: full required amount of tuition loan, living expense loan up to KRW 2 million per semester, interest rate 1.7% per year. From 2026, the income-contingent repayment tuition loan is available to undergraduate and graduate students without an income requirement; the living expense loan is for undergraduates in student aid bracket 8 or below and graduate students in bracket 6 or below. Basic livelihood recipients, near-poverty group, multi-child households, those at or below 130% of median, and local university students at or below 200% of median get interest waived on tuition and living expenses (effective 11/20).

Korea Scholarship Foundation Student Loans (한국장학재단 학자금대출) – Income-Contingent Repayment and Expanded Interest Waiver: when can I apply?

Second semester 2026 applications until 11/17 (18:00), disbursement until 11/18.