Students Can Now Loan Up To P50k to Buy Learning Gadgets, Landbank Says
Landbank of the Philippines announced that student can now loan up to P50, 000 to buy electronic gadgets for online learning.
On Wednesday (March 3, 2021), LANDBANK has expanded the coverage of its direct loan program for students up to P50, 000. The program aims to help student to purchase gadgets that they need for distance learning system.
The state-owned lender also said that gadget loan can be included in the maximum loanable amount of P150, 000 per student or P300,000 per parent-borrower. The bank also said that students of legal age can apply for LANDBANK I-STUDY.
Only parents and guardians of the students could apply for the loan. The bank has also set the maximum age limit to those who want to apply for loan to 50 years old. The program also includes scholar students whose tuition fees are not fully covered.
“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,” Landbank president/ CEO Cecilia C. Borromeo.
The establishment said that the loan program also covers non-scholar students from all levels. The bank also approved P531.5 million worth of loads to 16 educational institutions for the proposed ‘study now, pay later’ policy.
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