Student Guide


If you are currently experiencing some financial struggles there are definitely some ways for you to continue your education. One of these is through student loans. To help you find the best student loan suitable for you, we listed here some of the available student loan options and where to get them here in the Philippines.

/ 25 July 2021

Education is a crucial factor for the holistic growth and success of a country. It is essential for the advancement and growth of the health sector, innovations in science and technology, sound public administration, and efficient private sector management. In order to achieve these, the country needs to foster and nurture the minds of the youth.

However, due to the COVID-19 pandemic, many Filipino students opted to stopped schooling. Among these students stands one common reason — economic crisis. And who are we to blame them when the Philippine economy is on a decline.

But worry not dear students, if you are currently experiencing some financial struggles, there are definitely some ways for you to continue your education. One of these is through student loans.

Unlike a scholarship or grant, a student loan is an amount borrowed that needs to be paid back. Students are expected to return the money according to the terms and conditions indicated in the loan agreement. And in the Philippines, there are many ways for you to get a student loan — whether it’s from the government or a bank.

Compared to other types of loans, a student loan is, more often than not, cheaper than any other type of loan. The interest rates start as low as 0.50% each month, which is way lower compared to a personal loan that starts from 0.69% and more.

To help you find the best student loan suitable for you, we listed here some of the available student loan options and where to get them here in the Philippines.

CHED Student Loan Program

Otherwise known as Tertiary Education Subsidy, this student loan is in accordance with the Unified Financial Assistance System for Tertiary Education Act or UniFAST or Republic Act 10687. The CHED Student Loan Program is available to both Tertiary Education and Special Purpose Education Assistance.


  • Technical Vocational Education and Training (TVET)
  • Enrolled or will be enrolling in college or postgraduate degrees
  • Filipino citizens
  • Non-recipients of other government assistance programs unless the initial assistance does not cover any or all of the following: tuition fees, miscellaneous and other school fees, educational expenses, and/or cost-of-living allowance (COLA).
  • Top 10 graduates of all public high schools are given priority in making student loans. The loans however should be repaid on an installment basis once the student graduates or leaves the school/ college/ university.

Where to apply

  • CHED
  • DOST
  • DOLE
  • DSWD
  • DND
  • DA
  • DILG
  • DENR
  • NCIP
  • StuFAP-granting institutions

SSS Educational Assistance Loan Program

The SSS Educational Assistance Loan Program is available to SSS members below 60 years old and has a monthly income of 25,000 pesos or below and has posted at least 36 SSS contributions. Also included is one EALP beneficiary per member-borrower including their child, legal spouse, or sibling for unmarried members. You can borrow up to 20,000 pesos per semester for four/five-year degree courses and 10,000 pesos per semester for two-year technical/vocational courses, both have a 6% interest rate per year. This student loan is available to any SSS member provided they’re not full scholars enjoying free tuition and other school fees.

The EALP has a maintenance charge of 2% of the loan balance and a 1% per month penalty for late payment for any unpaid amortization. It also has a check replacement service fee of 300 pesos. This student loan is payable up to five years for degree courses and three years for technical/vocational courses


  • Accomplished SSS EALP application form
  • Valid IDs
  • Assessment/Billing statement issued by the beneficiary’s school
  • Proof of relationship to the beneficiary (i.e., birth certificate/baptismal certificate/marriage certificate)
  • Any proof of monthly income:
    • Latest payslip or certificate of employment and compensation
    • Latest ITR or BIR Form 2316
    • Notarized Affidavit of No Income or Affidavit of Source and Amount of Monthly Income

How to apply

Present the original copy and submit the photocopy of the requirements to the nearest SSS branch. Once the loan is approved, you may claim your check at the Administrative Section of the branch where you applied for EALP.

GSIS Education Loan and Computer Loan Programs

Any active GSIS member with permanent status and at least 15 years in government service can apply for the GSIS Education Loan and Computer Loan Programs. You can borrow up to 100,000 pesos per school year for an education loan and 30,000 pesos for a computer loan with an 8% interest rate per year. This student loan is payable for 10 years with a grace period of five years for an educational loan and three years for a computer loan.


  • Properly filled-out application form signed by the member-borrower and duly endorsed by his or her agency’s authorized agency officer.
  • Photocopy of the latest tuition fee assessment form.
  • Photocopy of School ID (front and back) with three signatures of the student beneficiary.
    • If the student ID is not available, the borrower may submit any valid government-issued ID with a photo, signature, and date of birth of the student.


LANDBANK’s I-STUDY Program is available to any Filipino parent or guardian with established repayment capacity and credit history. You can borrow up to 300,000 pesos per year with a 5% interest rate per year. However, LANDBANK charges a 24% penalty per year for failure to pay the loan and has a documentary stamp tax of 1.50 pesos per 200 pesos of the loan amount. This student loan is payable for one year for short-term loans and up to three years including a one-year grace period on the principal for long-term loans.


  • Accomplished loan application form
  • Borrower’s valid ID
  • Borrower’s proof of income
  • For employed borrowers: Certificate of employment, latest three-month payslips, and latest ITR
  • For self-employed: Business permit and latest ITR
  • Proof of billing address and payment record from at least two utility/service companies
  • For incoming students: Enrollment form/admission slip with school ID
  • For continuing students: Latest enrollment or registration form
  • Form 138/Certified True Copy of Grades for the previous semester attended
  • Certificate of Good Moral Character issued by the school
  • Schedule of payment of school fees and other enrollment-related expenses for the semester or school year

Bukas Tuition Installment Plan

Bukas Tuition Installment Plan is available to any Filipino undergraduate and graduate students including masters, doctorate, law, and medicine, provided that the student is 18 years of age and is enrolled in Bukas’ partner schools and with a guardian or guarantor at least 21 years old. The parents of the student may also apply on behalf of the qualified students. You can borrow up to 100% of your tuition, laboratory fees, miscellaneous fees, and other enrollment fees with a 1.5% interest rate per month payable for 12 months. However, this student loan has a service fee of 3% of the loan amount and a 5% charge for late or overdue amounts.


  • School ID
  • Tuition/Assessment form issued by the school
  • Guardian’s/Guarantor’s valid ID, proof of residence, and proof of income