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Landbank offers up to P300k loan under 'Study now, pay later' program

Up to P300,000 loan can be offered to parents or guardians of incoming students under the “study-now-pay-later” program in school year 2021 to 2022, announced the Land Bank of the Philippines.

The loan program was set to cover the tuition fee of students to help the parents or guardian who may be struggling due to the pandemic, said Landbank president and CEO Cecilia Borromeo.

About P1.5 billion was allotted to  I-STUDY or Interim Students’ Loan for Tuitions towards Upliftment of Education for the Development of the Youth lending program of the state lender to cover the the tuition and other enrollment-related fees of the students.

Parents or guardians can apply to the program as long as the student is qualified under the admission and retention requirements of an academic institution recognized or accredited by the Department of Education (DepEd), Commission on Higher Education (CHED), or the Technical Education and Skills Development Authority (TESDA).

Eligible borrowers can loan up to P150,000 per student but not exceeding to P300,000.


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