This Company Helps In Giving Student Loans for College
Bukas Philippines offers financial aid for students at a low price and can be paid back in a number of years
We’ve often seen the dilemma of parents and kids once the topic of college rolls in. We all know that it can be expensive to send kids to school with rising tuition fees. Not all parents can afford given the current economic situation. Some result in applying for scholarships and financial aid but sometimes it may not work. Student loans were something that we thought wasn’t worth getting into.
Realizing this problem, a group of friends got together to form a company that can help students by lending affordable loans that can be paid in return when ready. Bukas Philippines was born.
Opening to more colleges soon
In a recent interview with Modern Parenting, Riche Lim, co-founder, and chief product officer of Bukas said that they remain focused on helping out college kids and those taking up their masters for the time being.
“There are other things we have to tackle but for now, we’re trying to tap on the college students like that’s big enough that we have to just focus on that,” he said.
Bukas has partnered with 36 colleges nationwide for their app and more schools are coming soon.
How the app works
The Bukas app can be accessed via its website or download via Google Play (App Store coming soon). Select the school of your choice and then input the amount you’ll need for the tuition fee. It will then ask you options on how to pay through different installments.
Application approval for the student loans takes 3 to 5 days so make sure you inputted the correct information.
Once you have the money to pay back the dues, you can pay it via apps such as GCash, PayMaya, Unionbank, and through selected Bayad Centers, Dragon Pay Online, and selected over-the-counter banks.
Check out the videos below for more information.
Guarantee in the long run for students after their loans
Lim said that he and his team want this initiative to be in for the long run and will make sure to continue it through various initiatives.
“I think the combination of which creates a very long, long term mission. I think the investors we have and you know the business model itself. I think the team will always I think the team, we always have to be recruiting, make sure the culture is really focused on, you know, bringing people in to join for the right reasons.
“And it’s because they want, you know, they’re inspired by a mission to help us and we always actively search for that. And I think that starts from the people you have, if you don’t have that, then yes, it makes it challenging. So for us, it’s always focusing on the team and emphasizing that this is why we’re here and why we’re doing what we’re doing,” Lim said.
For more information about Bukas Philippines, you may check out their website at bukas.ph