"If You Haven't Applied Yet, Hurry" Second-Semester Student Loans Close on November 17.

Applications for tuition, living expense, and AI academic encouragement loans
Applications to switch to income-contingent repayment loans accepted through November 18

Applications for student loans for the second semester of the 2026 academic year (for tuition, living expenses, and AI academic encouragement expenses) close on November 17.

On November 5, the Korea Student Aid Foundation said that applications for second-semester student loans, which have been accepted since July 1, will close on November 17, and urged applicants to apply by the deadline. University and graduate students whose applications have been approved must execute their loans by November 18 to receive the funds.

Tuition loans can be used to pay tuition, and borrowers may receive a loan covering the full amount of tuition required for the semester.

Living expense loans help cover accommodation and meals, textbooks and educational materials, transportation, and other costs needed for study. Students can borrow up to 2 million won per semester.

However, tuition and living expense loans are subject to personal aggregate limits by loan type and academic level to prevent excessive debt among young people. Borrowers are advised to take out loans only for what they need.

Students who used general repayment student loans in the second semester of the 2026 academic year may also apply to switch to income-contingent repayment student loans by November 18, depending on their student aid eligibility category.

For tuition loans, from 2026, all university and graduate students can use income-contingent repayment student loans regardless of income requirements. Undergraduate students can use living expense loans if they fall within eligibility categories 1 through 8, while graduate students are eligible if they fall within categories 1 through 6.

Repayment of income-contingent student loans is deferred until borrowers earn enough income to meet the mandatory repayment threshold. Depending on eligibility requirements, borrowers may also qualify for interest exemption benefits. Students are advised to check the eligibility requirements before applying for a student loan.

Starting in the second semester of the 2026 academic year, the Foundation is also offering a new AI academic encouragement student loan to support the development of future talent with AI capabilities. The loan helps cover course fees, books and study materials, and other costs required for studying artificial intelligence (AI) and software (SW). Eligible undergraduate students who meet the support criteria can borrow up to 2 million won per year. As the number of eligible universities and departments expands, detailed eligibility information is available on the Korea Student Aid Foundation website under 'Student Loans>Student Loan Program Information>AI Academic Encouragement Student Loan.'

The website may temporarily experience access problems due to heavy traffic on November 17, the application deadline, and November 18, the loan execution deadline. The Foundation said, "Those who wish to take out a loan are advised to complete their applications and execute their loans early."

For details and eligibility requirements, visit the Korea Student Aid Foundation website or contact its customer service center for personalized assistance.

This content was produced with the assistance of AI translation services.