We are in what so-called is the New Normal. The usual things that we do have now changed that would fit our circumstances we are experiencing. Social distancing was imposed. A work-from-home setup was established. Distance learning was created. However, that is the current predicament students are experiencing especially to those who have limited resources at their disposal. But Land Bank has now expanded its help.
Land Bank of the Philippines is offering students an expanded coverage when it comes to its direct loan program. This time, the state-owned bank can lend up to PHP50,000 to purchase their own electronic gadgets for online learning.
The bank stated that the gadget loan can be included in the maximum loanable amount of PHP150,000 per student or PHP300,000 per parent which helps cover tuition and other school-related fees.
In a statement given on Wednesday, they “recognize the need to support students in adapting to distance learning modalities.”
Also, the maximum age for the expanded I-STUDY program has been increased from 30 to 50 years old. LandBank even stated that the program now covers students who have scholarships yet it doesn’t fully cover the tuition, and to non-scholars in private schools.
LandBank’s I-STUDY program helps students by offering them a direct loan that has a fixed interest rate of 5% per annum. This loan covers from pre-school until tertiary level.
Read:
