Analysis of Efficacy of Income Contingent Loan and Policy Suggestions

취업후상환학자금대출의 효과성 분석과 개선방안에 대한 고찰

Park, Seung-Ryel

  • Received : 2019.01.21
  • Accepted : 2019.04.20
  • Published : 2019.04.28


This study analyzes whether Income Contingent Loan achieves the policy goal of reducing the burden on higher education expenses with the emphasis on the repayment structure of the loan system and suggest ways to improve the incumbent policy. The study found that the voluntary repayment amount of the loan is much higher than the mandatory repayment amount. Therefore, various policy improvement measures are needed to activate the original purpose of the loan. We proposes improvements to the repayment, such as diversification of the repayment base rate, introduction of the loan integration, and analysis of loan default probability. In addition, this study has policy and academic implications in that it has suggested policy improvement measures by analyzing various overseas cases.


Income Contingent Loan(ICL);Student Loan;Tuition;Scholarship;Human Capital


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