Student Loan in Japan: A Guide

Education is an important tool for aspiring young minds, as it is vital to their growth and success in the future.

In many countries, basic education is free but when you have to study in order to get a degree, there is a need to put down a particular amount of money as tuition, which usually ends up being the reason most students give up.

This is because tuition cost in most countries is incredibly high and unless a student has very rich parents or wins a free scholarship, this could be an insurmountable obstacle.

When neither of these options is available, a student can apply for a Student loan from different agencies, which could be government-owned, private, non-profit organizations, banks, and so on.

Most of the time, the amount granted as a Student loan covers just tuition costs but in some cases, the lender may give enough to cover the overall cost or cost for books, and so on.

Based on what you’ve read so far, we’re sure you’ve started wondering how and where you can get a Student loan in Japan.

You’ll be happy to know that there is an organization in Japan known as Japan Student Services Organization (JASSO), a body that provides Student loans for both local and international students.

Without further ado, let’s discuss how to go about getting a loan from JASSO.

A Guide to Getting Student Loans from JASSO

When it comes to getting a Student loan from JASSO, the amount, term and interest rate will largely depend on the applicant’s financial background.

Criteria for Getting a Student Loan

The applicant must be one of the following before he/she can qualify for a Student loan from JASSO:

1. A presumptive high school graduate.
2. A high school graduate (within 2 years after graduation).
3. An applicant who has passed the examination that’s equivalent to the exam for senior high school graduation.
4. An applicant who has passed JASSO-required subjects
5. An applicant planning to take the examination for senior high school graduation.

A More General Criteria:

An applicant whose parent/guardian’s yearly income shows that they are capable of settling the loan.

A family that is under government life support or those who require economical support.

Where do I apply for JASSO Student Loans?

Usually, the application guide pamphlet for JASSO is given to students in high school if they express interest in the loan program.

The pamphlet usually contains some forms that will need to be filled out and also instructions on the application process.

How do I Apply for JASSO Student loan?

1. The first step is to prepare the following documents/information:

• Student loan contract forms.
• Application confirmation form.
• My Number Card submission form (Your My Number information as well as your parent(s)/guardian’s).
• Financial history (Yours, as well as your parent(s)/guardian’s).

2. The second step is to fill out three forms:

• Application confirmation form (must be a hard copy).
• My Number Card submission form (must be a hard copy).
• Online Scholar Net application form.

3. The third step is to submit the Scholar Net application online and submit the hard copy forms to the high school – you can submit them to either your teacher or to the school office.

Types of Student Loan in Japan

The two types of student loans in Japan are:

• Loans from credit card companies; and
• Loans from the government.

We understand that getting a Student loan in Japan can be a challenge due to the fact that the options available are minimal but we hope the information we’ve provided about JASSO will help you in your quest to find financial aid for your education.