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Students Can Avail Of Gadget Loan Through Land Bank

STUDENTS CAN AVAIL GADGET LOAN – As the Philippines continues its transition into distance learning systems, the need for proper equipment to join online classes rises.

Luckily, Land Bank of the Philippines (LandBank) expanded its tuition loan so parents and students can also buy gadgets used in online classes. According to an article from Inquirer, LandBank said its “I-Study” loan covers up to P50,000 per students.

The loan could then be used to buy computers (laptops/desktops) or tablets usually used in distance learning. Furthermore, this expansion covers part of the maximum loanable amount of P150,000 per student.

Students Can Avail Gadget Loan For Online Classes
Image from: eLearning Industry

Additionally, the loan could also go up to P300,000 per parent-borrower under the “I-Study” program. Moreover, students of legal age can apply for a loan themselves if they meet certain requirements. Meanwhile, the I-Study loan carries with it a fixed interest rate of 5% per year.

As per the article, LandBank said:

The enhancement of the I-Study program also includes the increase in maximum age eligibility of students from 30 years old to 50 years old; inclusion of scholar students whose scholarships do not fully cover their tuition and the coverage of nonscholar students from private preschool, primary and secondary schools

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