PHINMA Education, a fast-growing network of schools in Southeast Asia, and Bukas, an education financing platform, have partnered once again to provide college and graduate school students in eight colleges and universities nationwide with affordable tuition installment plans payable in 12 months.
“Making education accessible is a mission that we share with PHINMA Education, and we believe that this partnership brings us closer to achieving that,” said Riche Lim, co-founder and Chief Finance Officer of Bukas. “ We believe that our financing experience and the quality education provided by PHINMA Education will create better opportunities for all Filipinos, ” he added.
The partnership, signed on January 7, 2021, allows college and graduate school students from eight PHINMA Education schools to apply for flexible financing through Bukas. The eight colleges and universities included in the initial launch are PHINMA Araullo University, PHINMA Cagayan de Oro College, PHINMA Republican College, PHINMA St. Jude College, PHINMA University of Iloilo, PHINMA University of Pangasinan, PHINMA UPang College Urdaneta, and Southwestern University PHINMA.
Given the ongoing pandemic, the new partnership aims to provide some financial relief to Filipino students and their families. Now students can continue their education while splitting the cost of tuition into 12 monthly installments. Interest rates for the tuition installment plan start at 1.5% per month with a one-time service fee of 3%. For added convenience, Bukas created a fully digital application process. Students only need their mobile phones and an internet connection to apply. Processing usually takes between 3 to 5 business days. Once approved, Bukas deposits the tuition directly to the school. Students who are interested in applying may visit the Bukas website.
Bukas, an ErudiFi company, is an education financing platform on a mission to democratize access to higher education in the Philippines. Launched in 2019, Bukas partners with leading universities to offer affordable tuition installment plans for Filipino students and is licensed as a financing company with the Securities and Exchange Commission of the Philippines.”
PHINMA Education, established in 2004, is the education services subsidiary of PHINMA Corporation, a Filipino-owned conglomerate with investments in education, property development, hospitality, and construction materials.