Back-to-school season is almost here, and more and more Filipino families are feeling the weight of the impending tuition increase in select state universities, colleges, and private schools nationwide. This fee hike looms even while the country’s inflation rate remains high at 6.1%, as the Philippine Statistics Authority (PSA) reported in June 2023.
To make paying for school-related fees more affordable and less stressful, e-wallet GCash offers readily available lending solutions that allow users to achieve their goals while staying within their means.
Here are some of the ways that GCash’s borrowing solutions may be used for school-related purposes:
With the Coordinating Council of Private Educational Associations (COCOPEA) expecting a tuition hike average of 3-4% in some private schools this year, parents and sponsors might opt to secure a loan to continue funding their child’s education.
With GLoan, eligible borrowers may loan up to P125,000, instantly sent to their e-wallet within 24 hours. Canaria emphasized, “Education is essential, and people loan for it all the time — whether through friends and family, banks, or even academic offerings. What makes GLoan superior to all other options is its ease of access and flexibility upon application, while still leveraging on the credibility and the security of the GCash app,” said Zo Canaria, head of Growth Marketing at FUSE Lending Inc.
Meanwhile, those who need new big-ticket school items such as laptops and tablet can take advantage of GGives, which lets borrowers acquire these new devices in over 110,000 merchants, and pay for them in installments.
Have a hard time budgeting for school supplies, snacks, allowance, and daily commute fees? GCredit, powered by CIMB, has a readily available credit line built to support eligible users in times like these. GCredit—which has a wide range of merchants for every need—enables borrowers with a limit of up to P50,000 at a pro-rated interest rate.
“We at GCash have always believed that education is a right for all Filipinos, not just a privilege, and these lending solutions are our way of making this right more apparent for our fellow countrymen. As the leading e-wallet app in the market, providing easy access to extra funds and empowering users with resources that bolster their growth is our duty to the 70 million users we serve,” Canaria concluded.
To be eligible for GLoan, GGives, and GCredit, users must have a fully verified GCash profile and must continue using GCash and its services, such as maintaining a high wallet balance, regularly cashing in and paying your dues early or on time.
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