[Related Article] Gov’t to Relieve Student Loan Burden to 558,000 Borrowers (Korea Bizwire, May 1)
A bill that would relieve the burden of those who are unable to pay back student loans has passed the National Assembly. The qualifications will, however, be restricted to those whose loans have been in arrears for more than six months as of the end of February 2013. Under the new program, they will be allowed to switch to a new low-cost loan at 2.9 APR from up to 7.1 percent.… (see the full text of this news)
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