So you’re applying for a Bukas tuition installment plan. Welcome!
We know how important education is in building our future, your future. That’s why we’re here! Kasama mo ang Bukas sa pag-abot ng pangarap mo–starting with providing you options like affordable student loans that can help you enroll for your next semester in school.
At Bukas, we value transparency. We’re here to help you understand how our installment plans work so you can worry less about interest rates and focus more on your studies. Kaya naman bago ka mag apply for a tuition installment plan, , mahalagang alam mo kung ano ba ang laman ng Bukas contract mo.
A contract is an important part of every agreement. May lease contract when you rent your own space, may employment contract when you get the job of your dreams o kaya naman marriage contract when you marry the love of your life. But in our case, meron tayong Bukas contract!
Your Bukas contract serves as our written and legal agreement for your tuition installment plan or student loan. It protects both you and Bukas from risky situations. Dahil may contract, makakasiguro kang hindi ka namin iiwan basta-basta at tutupad kami sa napag-usapan. Walang hugot, serbisyong totoo lamang.
Sa Bukas contract mo makikita ang lahat ng information tungkol sa student loan mo like how much your monthly dues are, when and where you should pay every month to other concerns like what happens kung hindi ka makapagbayad on time or kung gusto mo magbayad ahead of time. Your contract should be able to answer all of these questions.
Ang tanong, naiintindihan mo ba ang mga terms and conditions sa contract mo?
We know legal documents can be intimidating. Mahaba na, marami pang salita na hindi madaling maintindihan. That’s normal! But that should not stop you from reading through your contract. After all, it is a legal document we’re talking about. So here’s a friendly reminder na basahin muna nang mabuti ang kontrata!
Here are some unfamiliar words and phrases in your Bukas contract and what it means:
Repayment due date
Note: A payment is already considered late after 11:59 PM (GMT Philippine time) of your repayment due date. Kung meron kang babayaran na late fee, you won't miss it since it will be reflected in your Bukas dashboard.
Note: The date on your disclosure statement changes after you confirm the agreement. So don’t be alarmed kung iba yung nakasulat na date sa final version!
Ngayong mas naiintindihan mo na ang mga nakasulat sa iyong Bukas contract, we hope you’re now more confident in what you’re getting yourself into. Here are some important reminders to keep in mind before confirming your contract. Para mas madaling tandaan, remember BUKAS:
B- Budget check!
Applying for a student loan should help you, not burden you. Bago pumasok sa contract, tingnan kung kaya ba ng budget ang monthly dues mo. Be honest and evaluate if you can commit to paying the amount in the next 12 months. Hindi lang yung first or first few months! Dahil legally binding ang contracts, once you agree to it, you can’t just “change your mind” and opt out kung hindi mo na pala kaya. Think long term!
U- Understand the provisions, too
A recent study finds that only 1% read the terms and conditions in a contract. Be part of the one percent!
Bukod sa unfamiliar terms, intindihin mo rin ang legal provisions sa iyong Bukas contract. What are your rights and obligations as a student borrower? Ano naman ang sa Bukas? Medyo mahabang basahin but it will save you unnecessary headache in the future. Besides, it’s written there for a reason. Everything in your contract is important.
K- Keep all your information accurate and complete
Legal documents are strict with information. Kahit mamali lang ng spelling ang pangalan mo, it can invalidate your contract completely! Once you confirm the contract, you certify that all given information is correct and accurate–kasama na rito ang lahat ng mga requirements na ipinasa mo as part of the application process.
This also means na kung may pagbabago sa profile or application details mo, it’s your responsibility to tell us immediately so we can update it. Just send us an email at [email protected]!
A- Ask help from your guardian
Kahit na gaano pa tayo kaingat, there are still things we often miss on our own. And it’s okay! Take time to sit down and review the contract with your guardian. Applying for a student loan is a huge responsibility, and it’s a responsibility you don’t have to do alone. Kung may parts pa sa contract na hindi mo naiintindihan, it’s the perfect time to ask. Ika nga ay “two heads are better than one!”
S- Strictly no cancellation after activation
We could not emphasize this enough. Once you confirm your Bukas contract, your agreement will be processed and activated. After activation, hindi ka na pwede mag request to cancel your student loan o kaya naman magpapalit ng repayment dates. So please carefully review the contract and raise your concerns beforehand.
Note: You’ll be given 30 days to read through your contract and confirm it in your Bukas account. However, remember that failure to do so within the given period will automatically cancel your application. Huwag mo na hintayin mangyari yun!
Mas mabuti ng maraming tanong kaysa maraming hindi naiintindihan. Here are the answers to frequently asked questions sent by our student borrowers:
I’ve fully read and understood the contract. What do I have to do?
What are the next steps after confirming the agreement?
I’m applying for another student loan. Do I need another Bukas contract?
My agreement expired before I could confirm it. Anong pwede kong gawin?
Congrats! Confirming your Bukas contract is one step towards achieving your dream. Getting yourself in class and studying hard comes next. Pero huwag kang mag-alala, kasama mo ang Bukas in every step!
Learn more about how we make education affordable for thousands of Filipino students like you. Download the Bukas app today on Google Play today! Kung gusto mo maging updated with our latest content and updates, you can connect with us on Facebook or reach us anytime via email!