\nThe\ncoronavirus pandemic did not only cause economic crisis among many\nFilipino workers, it has also challenged the studies of many students\nthis school year. To help solve this problem, the Land Bank of the\nPhilippines allotted P3 billion credit support for private academic\ninstitutions to implement the \u201cStudy Now, Pay Later\u201d scheme for\nstudents.<\/p>\n\n\n\n
Study\nNow, Pay Later Program of Landbank of the Philippines<\/strong><\/p>\n\n\n\n Under\nthe ACADEME (or Access to Academic Development to Empower the Masses\ntowards Endless Opportunities) Lending Program, the Landbank of the\nPhilippines allotted P3-billion worth of total credit fund for\ncontinuing students in the private high school, private technical and\nvocational education training institutions, as well as Higher\nEducation Institutions (HEIs) such as colleges and universities.<\/p>\n\n\n\n The\nsaid program will follow the \u20183-3-3\u2019 features \u2013 wherein the\nP3-billlion program-fund is utilized as credit support, only 3% fixed\ninterest rate per annum is given, and those who will avail are given\nat most three years to pay. \n<\/p>\n\n\n\n Landbank\nACADEME Lending Program<\/strong><\/p>\n\n\n\n This\nspearheaded program by the Landbank of the Philippines is open to\nprivate\/non-private Department of Education Junior\/Senior High\nSchools with permit to operate by DepEd. It is also open to Private\nTechnical-Vocational and Education Training Institutions in\npartnership with the Technical Education and Skill Development\nAuthority (TESDA). \n<\/p>\n\n\n\n Colleges\nand Universities with undergraduate programs, as authorized by the\nPhilippine Commission on Higher Education (CHED) are also eligible to\navail the lending program. Higher Education Institutions must be\neither accredited by the following: Philippine Accrediting\nAssociation of Schools, Colleges and Universities (PAASCU),\nPhilippine Association of Colleges and Universities\u2019 Commission on\nAccreditation (PACUCOA), Association of Christian Schools, Colleges\nand Universities Accrediting Association Inc. (ACSCU-AAI) or\nFederation of Accrediting Agencies of the Philippines (FAAP). \n<\/p>\n\n\n\n This\nfinancing intervention granted by the Landbank of the Philippines\naims to ensure that students are still able to enroll in school when\nclasses for school year 2020 \u2013 2021 resumes. \n<\/p>\n\n\n\n How\nACADEME Lending Program Works<\/strong><\/p>\n\n\n\n The\nLandbank ACADEME Lending Program will provide the refinancing or\nrediscounting of promissory notes issued by the parents or\nbenefactors of students for school loans. Schools that are eligible\nfor this program can borrow up to 70% of the sub-promissory notes on\na per semester basis and subject further to a maximum amount based on\nthe school\u2019s net borrowing capacity. \n<\/p>\n\n\n\n The\nloan will be released either in lump sum or staggered basis per\nsemester and will be directly credited to the deposit account\nmaintained by the school with Landbank. \n<\/p>\n\n\n\n This\nlending program is available until June 30, 2020.<\/p>\n","protected":false},"excerpt":{"rendered":" The coronavirus pandemic did not only cause economic crisis among many Filipino workers, it has also challenged the studies of many students this school year. To help solve this problem, the Land Bank of the Philippines allotted P3 billion credit support for private academic institutions to implement the \u201cStudy Now, Pay Later\u201d scheme for students. […]<\/p>\n","protected":false},"author":11,"featured_media":14876,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[3005,2871,3004],"acf":[],"yoast_head":"\n