Guide on the Landbank Tuition Loan Loanable Amount
LANDBANK TUITION LOAN – Here is a guide on how much you may borrow under this Landbank of the Philippines loan offer.
Many households now are struggling in terms of finances. Amid the COVID-19 pandemic, many individuals lost their job after their companies closed and a lot of these people are breadwinners of the family.
Several companies did not survive the stopping of operation for several weeks to give way to the implementation of the community quarantine. Big losses took place as, for those who are renting a space, they have to pay for it even without making any profit.
Following the closure of several companies, many employees also lost their jobs. Some of them are parents who are now thinking hard on how to prepare for the opening of the next school year.
Meanwhile, many government agencies recognized the struggle of the parents in the pursuit to send their children to school amid the COVID-19 pandemic. That is why they came up with loan offers.
The Landbank of the Philippines came up with a loan offer that can help parents pay for the school fees of their children through the I-STUDY Program. This Landbank tuition loan offer is open for students of all levels.
Based on a report on ABS-CBN News, under the said Landbank tuition loan, the parent or guarding may borrow up to Php 150,000.00 per student for one (1) school year or two (2) semesters. The maximum loanable amount per borrower is Php 300,000.00.
With regards to the repayment of the loan, if the beneficiary is a pre-school, elementary, or high school student, it can be repaid in one (1) year. According to the report, for college student beneficiaries, the term loan may be paid for up to three (3) years. The interest rate is at five (5) percent per annum.
Do you want to know who are eligible to apply for this Landbank loan offer? You may visit – LANDBANK SCHOOL TUITION LOAN – Who Are Eligible To Apply For This Offer.
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