Landbank of the Philippines decided to expand the coverage of their I-STUDY Lending Program (Interim Student's Loan for Tuition towards Upliftment of Education for the Development of the Youth) so students can be able to buy their electronic gadgets that they need for their online education during the pandemic crisis.
"Landbank recognizes the need to support students in adapting to distance learning modalities. While we await the resumption of in-person classes, we hope that the I-STUDY Program can help students cover the financial requirements to purchase needed learning equipment and participate in online classes," said Landbank President and CEO Cecilia C. Borromeo.
With the expansion, Landbank now allows students of legal age to borrow up to P50,000 for purchasing electronic gadgets for their online learning. This is included in the maximum amount that they can loan which is 150,000 per student or 300,000 per parent-borrower. The program now also increased the maximum age eligibility of students from 30 years old to 50 years old. Students who have scholarships but tuition fees and enrollment fees are not fully covered by their scholarship benefits are now also included in the program. As well as students from private, pre-school, primary and secondary schools who are not scholars can also now borrow.
WHAT IS I-STUDY PROGRAM?
This is a lending program of Landbank which offers 5% fixed interest rates for short-term loans (loans payable in a year) for pre-school, primary and secondary students. For tertiary students, the I-STUDY offers a term loan that is payable within three years. for the financing of tuition fees or any enrollment-related fees. While for purchasing gadgets, it is a term loan and is credited straight to the Landbank account of the borrower.
I-STUDY program of landbank was launched last year but only parents/ guardians can apply for the said loan.
For complete details, visit the Landbank website https://www.landbank.com/loans/business-loans/i-study or you can contact the Landbank Programs Management Department II at (02)8405-7198.
Kudos to Landbank for having such a program to give opportunities to those students who are interested to study but can’t afford to go to the college/university or to purchase necessary equipment for their studies to reach their dreams.
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