Over 60,000 Graduates Fall Behind on Student Loan Repayments

[Economy 365]

The number of individuals who have graduated from university and secured a certain level of income, yet failed to repay their post-study student loans on time, has surpassed 60,000.

As of July this year, the number of delinquent borrowers stood at 60,699, with overdue amounts totaling 87.351 billion won.

Averaging 1.44 million won per person, the number of delinquent borrowers has steadily increased from approximately 36,000 in 2020, entering the 60,000 range for the first time.

Seizures resulting from delinquency also reached 19,244 cases.

Separately, 9,355 people had their repayments deferred due to factors such as job loss or business closure, while 110,051 people were excluded from mandatory repayment targets last year due to a drop in income.

*This article was produced with AI audio.
※ Please note: This article was translated by AI and may contain errors.