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There is a system that allows people who have paid high interest and student loans in the past to change to a low interest rate. However, there are many young people who do not receive the benefits because the target is limited.
Reporter Song In-ho heard their voice.
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young man in his 30s who received a 15-year student loan from the second year of university in 2008.
In the wake of the recent corona, the burden of repaying student loans that resulted from the loss of a job has increased.
[Scholarship Foundation General Repayment Student Loan: I'm unemployed, and I have a long way to go. If the interest rate itself is applied at the same rate in the future, it will be a burden.] The
student loan that was first received at an 7.8% interest rate in 2008 could be changed to a 2.9% interest rate in 2014, but the problem is from the 2010 loan rate.
I received six additional fixed rate loans over two years, with interest rates ranging from 4.9% to 5.7%, more than three times the current 1.85%.
The Scholarship Foundation is converting existing high-interest student loans to low-interest rates, but since 2010, when variable rate products were introduced, lenders have been excluded from conversion.
[Korea Scholarship Foundation officials: I think the resources are limited. At that time, friends from low-income households (with variable interest rates) were able to carry out loans with'student repayment after employment'… .] More
than 1.17 million young people received relatively high interest student loans between 2010 and 2012.
Of these, more than 130,000 are still paying off loans with high interest rates.
[Scholarship Foundation General Repayment Student Loan: You can't ask for the right to cut interest rates, you have to pay the next 5 years with a fixed rate 10 years ago... .]
[Kim Young-shik / Member of the National Assembly Education Committee (former President of Geumo University of Technology): Young people are having great difficulties. Since the loan amount is about 470 billion won, I think it can benefit students by 17 billion won (by converting loans.)] With the
prospect that the corona aftermath will be prolonged, education authorities to relieve the burden of youth Seems to need further measures.
(Video coverage: Kim Hyun-sang, Video editing: Hwang Ji-young, VJ: Oh Se-gwan)
"I can't convert to a low interest rate since 2010"… Student loans
2020-07-13T13:09:43.413Z
There is a system in which people with high interest rates and student loans in the past can change to low interest rates. However, there are many young people who do not receive the benefits because the target is limited. Reporter Song In-ho heard their voice.
Source: sbskr