Loans managed by KOSAF are guaranteed by the government. Student aid through loans is for the most part intended to be applied towards school tuition and fees. A limited amount of support is also available for other costs, including living expenses, during study.
Based on both financial need and academic merit, the loans serve to allow students in Korea to pursue undergraduate or graduate level studies under a financial strategy developed with students’ long-term interests in mind. Enabling students to focus on their academic work while in school, student loan options include deferred repayment during study and interest-only payments during study. For qualifying students with demonstrated financial need, another option allows deferred repayment for a period of time after study as well.
The KOSAF student loan programs are designed to support Korean students studying in Korean institutions exclusively.
Note For Non-Korean StudentsAt this time, the KOSAF loans are available only for Korean citizens. To learn about national financial aid options provided for non-Koreans pursuing postsecondary education in Korea, see the programs mentioned by the Ministry of Education.