Pag-IBIG Ready to Assist Members as School Season Begins

By: Reigh John Bench Almendras, Thea Divina
August 11, 2023
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Pag-IBIG is set to assist students through MPCL. Photo courtesy of ABS-CBN through Lamudi.

Pag-IBIG officials announced its readiness in catering school-related needs of its members as school season begins this August through its Multi-Purpose Cash Loan on Wednesday, August 9.

Secretary Jose Rizalino L. Acuzar, Head of the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees says the Pag-IBIG fund helps Filipinos “to gain better and dignified lives” through their immediate financial assistance, in line with incumbent President Ferdinand Marcos Jr.’s vision.

“We at Pag-IBIG Fund recognize that many of our members rely on us for immediate financial assistance. This becomes more prevalent when [the] school season begins. That is why we are always ready to assist our members, particularly those seeking funds to address school-related expenses with our Pag-IBIG Multi-Purpose Loan.” Acuzar said

As of June 2023, the agency recorded 1,182,996 assisted members with the release of cash loans amounting to P26.17 billion. 

13.8 percent of the released cash loans amounting to P3.61 billion assisted 134,140 members of the agency with tuition fees and other school-related expenses.

 

Pag-IBIG Multi-Purpose Loan

Pag-IBIG’s Multi-Purpose Loan (MPL) is the agency’s affordable and accessible cash loan where qualified members can borrow up to 80 percent of their total Pag-IBIG Regular Savings, which comprises their monthly contributions, employer’s contributions, and accumulated dividends earned.

Loan processing is as fast as three days, with the loan credited to the borrower’s Pag-IBIG Loyalty Card Plus.

The loan comes with an interest rate of 10.5 percent per annum and is payable in 24 or 36 monthly installments with first payment payable for two months.

Pag-IBIG has also improved its capacity to cater its members through its more than 200 branches and the integration of the Virtual Pag-IBIG that can cater loan applications from members.

Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta exhorts the members of the agency to utilize MPL to provide family members with formal education.

“The Pag-IBIG MPL can be used to pay for tuition and school-related fees. Pag-IBIG Fund believes that education is one of the keys to a brighter future and a better life. We aim to aid parents in securing these for their children and hopefully, we can contribute to bettering the lives not just of the individual Filipino worker but their families as well. These are all part of our Lingkod Pag-IBIG, Tapat na Serbisyo, Mula sa Puso," Acosta said.

 

Letran Financial Aid Program

The Colegio offers a variety of scholarship grants to Letranites who will qualify in various examinations and requirements depending on the nature of the scholarship.

One of its categories is the Blessed Jesus Villaverde Andres (Academic Scholarship) which is eligible to students enrolling in Psychology, Accountancy, Nutrition and Dietetics, Engineering, and Education.

The academic scholarship provides accepted Letranites with 100% full discount on tuition, miscellaneous, supplemental fees, except for selected various fees on course/subject related. 

The student must have a weighted average (WA) of 95% and above in his or her grade 12 record to qualify.

Letran also offers a tuition fee discount to Dean's Listers. The discount depends on the corresponding WA of the qualified student. Minimum WA requires at least 90 - 92.99 cap which is equivalent to 80% discount. 

The maintaining grade to become a Dean's Lister also depends on the year level as the Colegio's guidelines change depending on the academic approaches in a particular academic year.

Aside from the grade requirement, a student must carry at least a regular load based on the prescribed curriculum, have not withdrawn from any course enrolled, and have not been subjected to any disciplinary action within the semester to qualify as Dean's Lister.

In 2021, Letran-Manila partnered with the Pag-IBIG Loyalty Plus Card enabling students to avail a 20% tuition fee discount for Bachelor of Secondary Education Major in English, Mathematics, and Bachelor of Science in Business Administration Major in Human Resource Management. 

According to pagibigfund.gov.ph the discount can be availed in Colegio de San Juan de Letran - Manila and Bataan campuses until February 7, 2027.

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