Student Loan in the Philippines

Best Student Loan in the Philippines in Philippines


loan: 20 000.
Term: 28, days
Rate per day: up to 1,18 %

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loan: 15 000.
Term: 30, days
Rate per day: up to 2,64 %


loan: 25 000.
Term: 30, days
Rate per day: up to 2,18 %


loan: 15 000.
Term: 30, days
Rate per day: up to 3,64 %


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Student loan in the Philippines

A study loan is designed to make education accessible to different segments of the population. After graduating from high school, students think about further education in colleges and universities. But it is not always possible to get an education for free, and not every student is able to pay for studies, study materials and accommodation.

Student Loan

In the Philippines, there are federal and private student loans. Federal loans have a fixed and reduced interest rate.

Getting a student loan in the Philippines is real. To do this, you need to know the conditions of the loan. Consultation with a competent lawyer who knows the nuances in the field of student lending will help to avoid serious problems.

Filipino organizations are willing to approve students for housing, education, and one-time needs.

Government institutions have a higher level of trust than private ones.

It is advantageous to apply for money in federal financial institutions, their interest rates are fixed. The table below presents information on interest rates, loan terms, etc. Compare the two leading financial institutions: the National Bank of the Philippines (PNB) and the Bank of the Philippine Islands (BPI).

The loan provided to students requires quick approval. Student loan has its own characteristics:

  • low interest;
  • possibility of early repayment;
  • in the case of a small delay in the payment of the schedule, there are no hard penalties;
  • a wide range of loans on favorable terms;
  • individual approach to each student in a local university.

If for some reason a borrower cannot receive money in a regular bank, there are private organizations that are more likely to approve money online. It is enough to go to the official website of the company and leave a request.

Benefits of student loans

  1. Quick decision on granting a loan.
  2. The process of filling out the questionnaire and application takes no more than 15 minutes.
  3. For registration only a passport is required, there is no extra red tape with documents.
  4. Students can get a loan without their parents.
  5. No income proof or additional fees are required.
  6. Favorable conditions for obtaining a loan.
  7. Conditions for consumers are simple and transparent.
  8. The total amount of repayment can be calculated on the site.
  9. The online system does not charge additional hidden fees.
  10. Ways to prolong payments are very convenient.

Each organization is ready to help customers, and can provide alternative options. In addition, they are not interested in the reasons for obtaining funds.

Any student can submit an application, submit an application at any place where there is Internet. Applications are accepted at any time convenient for the borrower, even at night. Approved funds are credited within 24 hours to a bank card, or are issued in cash. This system is very easy to use.

The prolongation of debts is very convenient, the deferment of payment is allowed from 1 to 4 weeks. The service is carried out only through a personal account in the system. You need to send a request, and then you can confirm the service to defer payment by SMS. Due to this, it will be possible to completely avoid possible charges for late payment. Typically, the accrual amount is 20 percent of the total amount received.

It will become easy to purchase the necessary items for study now, and students will be able to pay the rent as well, or to buy the necessary program, so student loans in the Philippines will completely solve all of their financial difficulties. There are several main advantages of student loans obtaining:

  • First of all, it is worth noting that our company is the fastest.
  • Only the newest innovative scoring systems are used, which are ready to provide you with an instant decision, when getting a loan.
  • The process takes no more than 10 minutes.
  • Loan is issued only by a passport.
  • Students themselves can obtain a loan without the help of their parents, and only in case of having a passport.
  • Compared to banks, the loans issuance systems require neither the provision of income certificates, nor a deposit.
  • We offer quite affordable and profitable conditions for loans obtaining.
  • The conditions for consumers are always simple and transparent.
  • The total repayment amount can be calculated by using the online calculator.
  • The online system does not charge additional hidden fees.
  • The ways of payment prolongation are very convenient. Every system is ready to help its customers and can provide alternative options. In addition, they are not interested in the reasons of money getting.

Why choose a student loan?

No investment brings higher returns than that invested in a quality education. A study loan helps a borrower finish his studies if at some point he has financial difficulties. Taking into account the future potential income of an educated person, a loan helps to realize their true potential.

Also, if a student needs funding not only for education, the student loan program is the first private company in the Philippines that is designed specifically for students. Students are offered several credit options depending on their needs – for example, repayment only after graduation. As in the case of cooperatives and microfinance organizations, student loans have an interest rate from 2% to 2.9% per month. Credit companies also provide students with training, seminars and other opportunities to teach them to repay a loan and help them with employment after graduation.

Learn more about the benefits of a student loan.

In addition to economic reasons, there are a number of reasons that make them an excellent choice for financing education.

1. Low percentage

When obtaining a loan, interest rates play a dominant role in the decision. Study loan rates are generally lower, especially in government institutions.

2. Availability of student loan

Study loans are available for most people. A large number of lenders offer educational loans with simplified requirements. Many other organizations help students in higher education institutions by offering loans on more favorable terms and providing additional benefits.

3. Convenient payment terms

Another important point that borrowers pay attention to is the repayment schedule. Given the borrower’s future earnings, many organizations offer convenient options for repaying a loan. College students are given the opportunity to repay the debt on their own as soon as they get a job.

4. Tax deduction

Relevant tax breaks are another big advantage of educational loans. This helps the student save money during the repayment period.

5. Independence

An advantageous aspect of student funding is that it teaches the student to take responsibility for his education. The student protects parents from additional financial burden, paying the debt to the lender on their own. There is an additional motivation for successful study.

6.Student loans are supported by the government.

The Philippine State Development Bank (DBP) has created a student loan program for higher education (HELPS). They allocated about P2 billion to educational institutions, which will be given to their students for tuition.

Student Loan Terms

Loan for StudentsThere are conditions that allow you to use a student loan:

  1. You must live in the Philippines for at least twelve months in a row;
  2. The borrower should not be in debt to other financial companies, both in the Philippines and in other countries;
  3. You must have your own or rented accommodation. Statistics claim that those who have their own dwelling are more likely to receive approval than those who rent an apartment;
  4. Most financial institutions require students to be a regular customer of a bank and have their own account there;
  5. In order to receive money on special favorable terms, the borrower must provide a document confirming the fact of his studies at a local institute, college or university. The document is available in school.

Filipino institutions may deny funding without explanation, even if the student has provided all the necessary documents. Most often this happens with foreigners. Therefore, a person who does not know all the nuances of banking in the country and does not know the local language should apply for a loan accompanied by a lawyer and an interpreter.

What other criteria affect the decision of the bank?

  • Age – from 21 years (in some organizations from 18 years)
  • Fixed phone number or active mobile
  • Fixed home or work number
  • Residence Status
  • Permanent citizenship;
  • For foreigners – a valid residence status
  • Employment Status
  • Employed workers or self-employed persons.

The main requirements of financial institutions to borrowers:

1. Age

Typically, a standard loan is issued to persons over the age of 21, in some banks from the age of 18.

2. Income

To increase the likelihood of approval, you should confirm your income, it is desirable to get a job at least part time.

Since not all students have the opportunity to combine study with work, organizations consider the income of a family, or someone from a family member. If a college student receives a scholarship, it is necessary to provide information confirming this fact.

Some institutions have financial aid programs for low-income students. Funds are provided by the state on simple and favorable terms so that students in need can get a higher education. Loans for low-income students have flexible repayment schedules that enable low-income borrowers to repay debt.

3. Employment

For a positive decision, it is desirable to have a permanent or temporary job, in this case, the student must provide a document stating that he combines full-time (correspondence) training with work or the provision of services.

4. Credit Score

This is a three-digit number that indicates to your creditors your solvency. The higher the score, the greater the likelihood of approval. CIBIL score is considered good with a value of 750. But banks also take into account that some students have just finished high school and have not yet encountered loan products before.

5. Guarantor

Another possible way to get a loan without any problems is to find a guarantor for a student loan. This will reduce the interest rate and increase the likelihood that the lender will allow you to take a loan. Very close friends or family members, such as parents, brothers and sisters, can become a guarantor.

6. Documents

Each application for money must be accompanied by a set of necessary certificates, including identity documents and proof of income.

Conditions for issuing a loan for employees

The following requirements are imposed without regard to college social programs. It is about getting money for education in ordinary financial companies. To qualify for such a loan, you need to be a citizen of the Philippines, who has reached the age of 21 years. When contacting the institution may require documents:

  • copy of the passport;
  • Employee ID;
  • proof of monthly income;
  • extracts from salary and bank account for the last three months;
  • copy of savings book, etc.

Personal education loans can also be taken by people who work in one company for at least a year with a minimum monthly salary of 15,000 PHP. Then you may need the following documents: certificate of employment and income statement.

Conditions for self-employed persons

Self-employed persons have the opportunity to take a loan for training. For entrepreneurs will need a certificate of registration of the enterprise. You must also provide a registration certificate. If this is a partner company, then a copy of the partnership agreement is needed, and in the case of a company, a copy of the charter agreement.

For young students who have just graduated from school, you will need to provide the following documents:

  • Passport and its copy;
  • Extract from school;
  • Registration in the Philippines;
  • Proof of own income or monthly family income.

Student loan maturity

Depend on a specific financial institution. Often take a loan for a period of from one year to 5 years. A good credit history helps to expand the list of options for obtaining an educational loan. If problems arise with a credit history, most institutions will refuse to issue money.

Loan amount and interest rate

Currently, college tuition averages around 90,000 PHP per year. In the best colleges in the country, such as Ateneo and De La Salle, tuition fees can reach 200,000, while the University of the Philippines Diliman requires about 20,000 PHP. The maximum student loan amount is 2,000,000 PHP.

It is more profitable to issue a federal educational loan. Rates for such credit products are reduced and fixed throughout the entire crediting period.

When choosing a lender in the Philippines for college students, it is advisable to focus on two things: a low initial deposit and availability of the Bank.

BDO and BPI have the largest network of banks and ATMs in the country. Most of them are located within walking distance of schools to make it more accessible for prospective students. On average, the annual loan rate is 25%.


Why is NOT worth applying for a loan in and similar organizations?

The activities of a financial institution are focused on consumer loans. They provide financial solutions in response to the daily and urgent financial needs of Filipinos – which is not very suitable for a student loan.

  • High percent. If you take a loan at 25% of the loan amount in state banks, then in any organization’s lender you take a PDL loan at 1% -2.5% per day. Overpayment for five years will be 1825% minimum.
  • Rollover loan. If all of you have applied to the PDL for a student loan, then get ready for the fact that the interest on renewal can increase the loan body.
  • Hidden fees and additional services.

Don’t get me wrong, PDL service is a great financial tool, but it is absolutely not suitable for obtaining a long-term loan.

Procedure for loan processing:

  1. Fill out an application in 5 minutes;
  2. Wait for the phone call to approve the indicated data form;
  3. The decision is made within 1-2 days, and you receive money in your bank account or on a bank card within 24 hours.
  4. The organization minimized the necessary documents for granting a loan. In the event of unforeseen circumstances through no fault of the borrower, the credit institution offers repayment prolongation on an individual basis.


Commission fees depend on the chosen lender. For example, at Citibank, the data processing fee is P1,500. But consideration of the application in such a case is made within 24 hours.

For student loans, most often there is no large amount of additional fees, and the fee for processing personal data is small.

Repayment of a debt

In order to pay off the debt to the lender, you make monthly payments on the loan until you have fully repaid both the main part of the loan and the interest. In the early years of the loan, most of your monthly payments will be used to pay interest, however, as time passes, most of the payments will go towards paying the principal amount of the debt.

The grace period for student loans in the Philippines depends on the lender you choose. For example, in one case you will have to make the first payment immediately after receiving the money. In another case, you can do it after graduating from college. All these points should be mentioned in the loan agreement.

Deferment of payment

Federal loans allow you to suspend repayment of a loan under certain conditions, such as unemployment. There are also banks that allow you to pay the debt after graduation.

MFIs provide a deferment of a monthly payment of up to two weeks.


Student loan FAQs

  1. What is an educational loan from
  2. Money can be obtained using the online system. In addition, this option is an excellent alternative for many students. Private student loans are available to persons who have already reached adulthood. You can get a loan for a period of 3 days and up to 18 weeks. You do not have to pay commission fees, and you do not need to attract a guarantor. The entire work of the organization is based on the honesty of the citizens themselves.
  3. Is it safe to borrow online at
  4. A cash loan is an amount of money that a borrower takes from a bank or other microfinance organizations. Provided funds can be managed at their own discretion. Each institution imposes its own credit conditions and requires a list of documents (certificate of income, ID, etc.). If there is a negative credit history, the bank will refuse to issue money.

But with, taking loans is not only safe, but also convenient. The financial institution offers favorable conditions for cash lending, therefore, the funds can be disbursed without guarantors and collateral.

  1. Why borrow from instead of a bank?
  2. Making an application from the online credit structure has a lot of advantages:
  • A person chooses the amount and term of the loan.
  • The client can fill out a form to get a loan day and night, on holidays and weekends. Translation is made at any time.
  • The percentage is only for the days of using the money.
  • The client can register and fill out the form without leaving your computer. All he needs is the Internet. The whole process takes place in real time, without a long wait!


  1. Is my loan reported to credit agencies?
  2. Information on educational debt appears in the credit report shortly after opening an account. The account status will be displayed as deferred until you enter the redemption period.
  3. Are there any overdue payments on the loan product?
  4. Sometimes a lender may charge a default if you cannot make payments on time or miss them. Although default fees are now limited, it is important to make all payments according to the repayment schedule. You may also incur additional interest as a result of late payment or missed payment.
  5. Are prepayments and partial payments available for lending?
  6. The grace period for an education loan in the Philippines depends on the lender you have chosen. For example, in one case you will have to make the first payment immediately after receiving the money.
  7. What is the average loan rate?
  8. On average, federal banks set an interest rate on an educational loan of 25% per year. In private banks, the percentage is higher.
  9. What do banks look at when applying?
  10. The following factors in the aggregate: age, income, employment, CIBIL score, the presence of a guarantor.
  11. What is the minimum income should be?
  12. For employees, this is usually 15,000 PH. In the case of an education loan, each application is considered individually. Financial institutions may consider the student’s family’s monthly income.
  13. How can I get an educational loan from
  14. Only if you want to pay 1855% five years after the loan is paid off
  1. Create an account on the site. Next, fill out the form with your personal data. To register on the site will need your ID and phone number. Everything is very simple. Filling out the form takes a few minutes.
  2. Specify the most convenient way to receive money. Robocash works with major partners so that you can receive and pay off the debt in the most convenient way.
  3. Sign a contract with Robocash. Confirm your acceptance of the loan online. You will receive a confirmation code by phone, in the message. Money will be transferred in real time in the easiest way for you.


In order to immediately receive money after filing an application, you must immediately provide the necessary documents. Increasing the student’s chances of receiving money is a certificate of permanent or temporary income above the subsistence minimum, which in the Philippines is 30,000 pesos. To approve a loan, it is desirable to have a permanent or temporary job, in this case, the student must provide the bank with a document stating that the student combines full-time (part-time) education with work or the provision of services.

Increases the chances of approval of the loan availability of the guarantor. A guarantor may be a friend or close relative, as well as a spouse.

Duration of residence and study in the Philippines also plays a certain role: for students in recent years who have already lived in the country for several years, loans are issued more often than for first-year students. And, of course, credit history matters. If the borrower has already borrowed one or more times from the bank and repaid the loan on time, the financial institution would be happy to meet with it the next time.

How can I repay a loan?

Regular customers have already approved the convenience of a money back. The company tries to improve relations with new partners on a regular basis in the search for new options for repayment of loans.

Four payment steps:

  • Log in to your account.
  • Select the desired operation.
  • Enter the bank card details.
  • Wait for payment confirmation.

There are different types of loan repayment:

  • Through the card of any bank
    • Log in to your account. To enter, use your phone number as a login and enter the password. If you have forgotten your password, you can complete the password recovery process. Just click on the link and follow the instructions.
    • Select the desired operation. The client will see active loans in his account. Choose the one you want to repay from the list. If you want to repay the loan in full, select the option “Pay off the loan”. If you are unable to return the money at the moment, click on the option “Renew”. To extend, you must repay overdue interest. After that, a new maturity date will appear.
    • Fill in your bank account details. Fill out the form by entering the required information in the appropriate fields, such as card number, expiration date, first and last name of the holder and three digits on the back of the card. You do not need to worry about information security – it is processed and stored in the best security and confidentiality of the most important payment management operator in the Philippines.
    • Wait for payment confirmation. The status of the loan will be “extended” or “closed” in your account, depending on the operation performed.
  • Via bank transfer
    • Log in to your account using your password and phone number. Select the active loan option.
    • Select a “bank account” from the list of repayment options. The data of the bank of the company Robocash will appear immediately.
    • Using the online bank service, make a bank transfer to an account with the specified data.
  • Through cash

To repay the loan amount in cash, you need to contact the office of any bank. You must have a payment order. This is automatically generated on the page. Just print the order.