How To Apply For Student Loan Philippines

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Bukas Philippines - it is financial app which can help students / graduates to get education loan online. Service can support you and solve your financial issues. Check the terms and try it now.

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Digido Philippines - 0% interest rate for the 1st time loan up to PHP 25.000, if borrower pay back in due time. Apply loan online with Digido and solve your urgent financial issue right now. If you need cash loan in a 15 minutes, Digido is the right solution.

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Loanonline Philippines doesn´t provide loans. Service only recommends the best options for it to Filipinos.

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Cashalo is the online app from Oriente group. It is one of the most popular lenders in the Philippines which provides quality service and loans up to PHP 15.000. Interest rate: 5,99% per month.

This article is about a student loan Philippines and how to apply it. You will find out about all options how to get money for the education of urgent student needs. If you are studying at the university or you are going just to apply for one, it can be interesting for you. Also, this article is about loan services with their own conditions and requirements.

Student Loan Philippines
How To Apply For Student Loan Philippines

Key points:

  1. Higher education is very expensive in the Philippines. It is not available for all families;
  2. Some student loans can be ok for you, but some can be enough risky – important to know the difference;
  3. Loan companies which provide loans or students in the Philippines are also different: banks, funds, online lenders, etc;
  4. Payday loan and installment loan companies don’t provide student loans, but those who are 21 and older can apply for urgent salary loan, but very important to have income and this was really urgent for you and you have no other options are all to get money for your financial issues.

Filipino students dream about to get into college or postgraduate diploma, but education isn’t free: the tuitions fees, uniforms, books, etc. Of cause, there are scholarship grants by different insitutions. Such offers are limited and not available for everyone.

Student Loan Philippines 2024

University life in the Philippines is enough tough and almost all students remember the time when they need money to buy some books, materials, etc that the university requires. Many students don’t finish their education, cause they have no money to do it, and this is a real problem.

Filipino students need money from time to time, and if the parents can’t support them they have several ways:

  1. Find the job and earn money, so he/she could study in parallel;
  2. Earn money from relatives or borrow it in Bukas loan service;
  3. Borrow money from payday / installment loan services, but it is not good idea, cause o interest rate and short loan periods, especiall in payday loan companies.

Student loan – when a person borrows money from private institutions or the public to fund his/her own education in the Philippines. Principle amount and interest must be paid in time according to the contract’s terms. Loan periods can be different, for example:

How To Apply Student Loan & Where You Can Do It

There are different sources for education loans in the Philippines: government, banks, institutions, student loan from universities.

Requirements are different, but the main points are:

DocumentsValid ID, Student ID, SSS ID, etc
Proof of incomenot always
Proof of addressyes, it is obvious

As for the terms, they are also different according to each loan service or program.

Student Loan Philippines Banks

Banks provide student loans but not every applicant can get such a loan. Also, banks are not the only option for students in the Philippines. Banks always ask about proof of income. Also, your credit score must not be poor. Very good if you’ll have deposit in the bank you want to apply for education loan.

Online Lending Services For Urgent Needs

Payday and installment loan companies (lenders) can quickly provide students with unsecured loans, but be aware of interest rates and terms, if you will not repay the loan in time. These companies don’t have many requirements, they can provide you with money online in 30 minutes. Also, unsecured loans don’t ask for collateral.

Government Programs For Students

The government in the Philippines offers loans and allowances too. Especially they are popular among scholars or Filipino who study in state universities. To keep in mind, state universities don’t charge interest and this is really cool. Special educational government programs are focused on Filipino who really need help and want to get an education.

CHED UniFAST Student Loan Program

This is a short-term student loan program with next terms:

SupportCollege students, graduate students, medical students, law students, etc
Loan amountMaximum PHP 60.000
Interest rate0% interest, if the loan was paid on or before the end of the semester
Repayment terms1 year


  • Filipino undergraduate or graduate students of next university colleges: SUCs, LUCs, HEIs;
  • Didn’t used loan program during the undergraduate study period.


Applicant School IDGovernment-issued ID
1*1 ID pictureCertificate of Registration
Signed application formAny of the next documents: Latest Income Tax Return, Tax Exemption (BIR), proof of income, etc

Steps To Apply for CHED Unifast Student Loan Program:

FAQ About Student Loans in the Philippines

⭐ Student Loan Philippines: Good or Bad?

Students can apply to banks and get money for their student needs. Usually, such loans have to be repaid each month. Student loans it is like investments in a student’s future. The main point terms were ok for you. For example, federal student loans have enough low-interest rates and flexible options to repay loans. Many students are really happy to have such opportunities and use such loans in order to get a better future and have more possibilities to earn more and repay loans. Of cause, loans do not always help, especially those which have risky terms for students. For example, a salary loan is better not to use for educational issues.

Useful Links

  1. About education in the Philippines – what you need to know –;
  2. Quality Tertiary Education Act –;

Summary About Student Loans In The Philippines

The student loan must be repaid in time – this is the core. For example, if graduates are looking for their 1st job and have a loan at one time they often need to accept low-paid jobs, just to repay their loan on time.

User Review 4.5 (6 votes)
Linda Carters/ author of the article

Financial Journalist on Advance Loans Philippines with 8 years experience in a Fintech niche.

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