The struggling student
The first answer is probably to get a scholarship. Several institutions offer grants and scholarships, and private schools are mandated to offer study now, pay later programs. However, considering the competitive application process for these grants, qualifying for one can be quite difficult.
Some turn to family for help and it is not unusual to hear that a friend’s tuition fee or weekly allowance is supported by a kind relative. Some take on jobs to fund their education. Some give up their studies completely when they feel like there is no one and nowhere else to turn to. Most Filipinos are unaware of one more option: student loans.
Loans for students in the Philippines
A “loan” might sound intimidating for a college student, but this can turn out to be the solution for the problem of educational financing. Loans for students are not limited to educational and tuition fees. These can include other student necessities like allowance, housing, or laptop loans for school.
Student loans in the Philippines are generally offered with a low fixed interest rate, but actual rates differ depending on the organization, whether government or private. InvestEd rates go as low as 2.25% to 2.93% per month, as opposed to others with rates ranging from 3% to 30%. Additionally, most lending companies require initial payment up front but a basic plan from InvestEd allows you to study now and pay later.
Loans for success
Choosing a financial lender for the rest of your college journey does not have to be a simple matter of who charges the least. It can be about who gives the most value.
Creating your future
Availing a student loan is a serious decision, whether or not it will fully cover educational costs or just a part of it should be considered. It is important to be fully informed about lending organizations, their backgrounds, and their policies before making the choice. After deciding to take the jump, take extra care to read and clearly understand everything before signing.
While there are options available aside from loans, their benefits spelled the difference for those who have chosen InvestEd as their source of financial support.
Getting a loan was the key to helping the graduating student push for that final semester, fund their board review, ace that exam, and become a certified public accountant.
Getting a loan enabled a working student to study full time and focus on advancing closer to their dreams. It helped a delayed, full-time student working part-time, who was sacrificing performance just to get a salary.
Be inspired by these real-life successes here.
If you’d like to learn more about InvestEd, check out more of our questions & answers here.