Student Loan Provider Expands Scope and Partners with Top PHL Universities

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The TECHNOLOGICAL Bukas education funding platform is expanding its reach by offering affordable student loans to its new partner academic institutions.

These include private universities such as De La Salle University, University of Asia and the Pacific, Panpacific University, Technological Institute of the Philippines, Saint Louis University, Colegio de Dagupan, Saint Paul University-Quezon City, University of Baliuag and University of the Visayas, as well as specialist schools like SoFA Design Institute, Enderun Colleges, De La Salle Medical and Health Sciences Institute, Avion School and Uplift Code Camp.

Studies show that a third of Filipinos fail to get a higher education with affordability a major barrier. In some cases, students may have enrolled for the first semesters, but their financial situation does not allow them to pursue and complete their degrees. This is reflected in the annual drop-out rate of 10-15% experienced by many schools in Southeast Asia, including the Philippines.

“[The] the new partnership between DLSU and Bukas comes at the right time, as many of our students continue to feel the effects of the pandemic on their family’s resources, ”said Dr Christine Joy A. Ballada, Dean of Student Affairs at DLSU. “With Bukas Tuition Payment Plans, we can offer our students more options to finance their studies, so that their learning continues in these difficult times. “

Bukas offers a complementary and affordable solution to more families and students who cannot rely on bank loans or scholarships. With a base monthly interest rate of up to 1.5%, which is lower than other finance institutions, and payments up to 12 months, the platform allows parents, and even students who work, manage their school’s finances in a sustainable manner.

Bukas’ expansion led by its parent company ErudiFi, which included the integration of new educational institutions and key recruitments in different business functions, was the result of the completion of a $ 5 million Series A cycle co-led by Monk’s Hill Ventures and Qualgro earlier this year. In 2020, ErudiFi’s activity has tripled. It is constantly expanding its presence in the Philippines with partner schools across the country.

Including the newly integrated institutions, Bukas now has a total of 27 partner schools, with a presence on 57 campuses, including the University of Mapua, the University of the Far East, the University of Adamson, the University of Our Lady of Fatima, PHINMA Education Network, University of Nueva Caceres, Centro University Escolar and Eskwelabs, among others.

“Welcoming new partners to our platform gives more Filipino students the opportunity to study at the school of their dreams in more sustainable ways,” said Bukas National Director Jon Robert Emlano. “The number of out-of-school youth continues to grow and we want to be part of the solution by helping them put them on the path to building a better future. “

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