SEOUL, March 3 (Korea Bizwire) – Outstanding student loans, a rising unemployment rate, and an unstable housing environment are leaving Korean youth (from 19 to 34) on the brink of permanent poverty. According to the latest report on youth poverty from the Korea Institute for Health and Social Affairs, the poverty rates for those aged [...]
SEOUL, Jan. 20 (Korea Bizwire) – South Korea boasts among the world’s highest college entrance and completion rates. In 2014, 45 percent of Koreans aged 25 to 64 had completed tertiary education, ranking sixth amongst OECD countries. The college entrance rate is at about 68 percent. Of course, education doesn’t come cheap. Average annual tuition [...]
SEJONG, Oct. 31 (Korea Bizwire) – The number of college graduates who failed to pay back their student loans jumped nearly eight times in three years, data showed Monday, in the latest sign of financial trouble for young South Korean workers. Under the student loan program that began 2010, college graduates are required to pay [...]
SEOUL, Oct. 10 (Korea Bizwire) – Recent data has shown that the polarization of wealth has grown more apparent for youth as an increasing number of college students are struggling under the burden of student loans, while a chosen few thrive with their inherited fortunes. According to the Korea Student Aid Foundation, 2.51 million college [...]
SEOUL, July 9 (Korea Bizwire) – As more students fail to pay back money borrowed for their tuition, the number of students who are facing legal action increased more than tenfold in just five years. On July 8, the Center for Freedom of Information and Transparent Society unveiled its report on student loan volumes by [...]
![[Stats] Borrowers in Delinquency on Student Loans](http://koreabizwire.com/wp/wp-content/uploads/2014/05/학자금대출-영문.png "[Stats] Borrowers in Delinquency on Student Loans")
[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 [...]
SEOUL, Korea, April 30, 2014 (Korea Bizwire) – 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 [...]