- The LandBank of the Philippines announced that it will be extending P50,000 in form of a loan to students, in order for the latter to buy gadgets for online learning
- The bank revealed that this expanded program is included in its I-STUDY where there is a maximum loanable amount of P150,000 per student
- Parent-borrower can enjoy a maximum loanable amount of P300,000, which they can use to cover tuition fees
- The website of LandBank has provided the list of requirements that borrowers must comply with, as well as the steps that they must take to avail of the loan
The LandBank of the Philippines has just made an announcement that may sit well with many families in these hard and trying times.
The government-owned bank will be extending a loan of P50,000 to students, to help them purchase gadgets for their online learning.
The effort is part of the bank's Interim Students' Loan for Tuitions towards Upliftment of Education for the Development of the Youth (I-STUDY) Program, which will answer for the needs of parents in meeting the costs of tuition fees and enrollment fees.
Under the I-STUDY, student can enjoy a maximum loanable amount of P150,000 and for parent-borrower, it would be P300,000.
Cecilia Borromeo, the chief executive officer of Land Bank, in an email sent to GMA News stated that the bank recognizes the need to support students in order for the latter to adapt to distance learning modalities.
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The online learning method has caused a huge toll Pinoy families, especially that many parents needed to purchase gadgets in order to enable their kids to attend their classes. Some parents, however, due to limited income, found the method hard and struggled with the added cost.
Now that it is not yet recommended to resume face-to-face classes because of the COVID-19 pandemic, online learning is the best solution for kids to stay educated. There also lots of syllabus or programs that are available on the Internet that you could use to teach your children during the quarantine period. You would need a good gadget though.
A senior high school teacher went viral after he took to social media to let the public know about the struggles of many students with online learning. He narrated how one of his students would rent a cellphone just to be able to attend a class. The teacher also recounted how one of the students will be late because he needed to catch fish, sell them to be able to buy a prepaid Wifi load. The online class is the new teaching method in the time of the coronavirus pandemic.
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