- President Rodrigo Duterte asked private school and universities to offer staggered or installment payments to their students
- The Landbank announced that they have launched a lending program that will help private schools and universities cope up with the finances and be able to offer a “study now, pay later” scheme for students
- With the financial impact of COVID-19, many parents already feel the burden of their students’ school fees
President Rodrigo Duterte appealed to private schools to allow the staggered payment of tuition fees amid the continuing health crisis brought by COVID-19.
“Yung tuition fee sana I hope you that would allow staggered payments or installment lang po sa mga eskwelahan,” Duterte said in a televised speech in Malacañang.
Due to the lockdown since March, many parents already feel the financial impact of the health crisis.
Duterte said he already asked the Land Bank of the Philippines to help parents “who have nothing to come up with” for tuition fee payment. “Itong Landbank bubuksan namin and you can borrow money to finance the education of your children,” he said.
“We are hard-pressed in our finances but we have to place the premium of education. So that this would be another round of expenses but Land Bank is there to help you,” he assured struggling parents.
Earlier, the Landbank announced that they have launched a lending program that will help private schools and universities cope up with the finances and be able to offer a “study now, pay later” scheme for students.
“Given the financial constraints brought about by the Covid-19 pandemic, Land Bank is financing interventions to ensure that students will be able to enroll in school when classes finally resume. The Landbank Academe Lending Program supports the education sector in providing students greater access to quality education amid the health crisis we are all facing,” Land Bank president and CEO Cecilia Borromeo said in a statement.