LandBank Loans Php 250 Million for Private School Education

Through a “study now, pay later” program, Land Bank of the Philippines (LandBank) has approved an education support loan sum of Php 250 million.

The loan program is designed to help financially impaired students suffering through the Covid-19 pandemic to allow them to continue their private school education.

LandBank CEO and President Cecilia C. Borromeo stated during a Laging Handa briefing on Wedneday, “Meron na kaming in-approve na P250 million sa isang malaking school para makapagpautang sila…sa kanilang mga estudyante at zero percent interest. [We approved P250 million to a big school so it can offer loan support with zero percent interest to students].”

The approved amount is part of the Php 3-billion credit support to private academic institutions the state-run bank launched in early May.