FAQs

Frequently Asked Questions

Tuition Installment Plan

  • What is an installment plan?
    • An installment plan is a method of paying for something where the buyer defers payment for now and only needs to make partial payments over a specified period (usually with interest). It is usually used by consumers when purchasing big ticket items (eg. mobile phones, appliances, electronics, etc.) in order to minimize amount of cash out.
  • What is a Bukas Tuition Installment Plan?
    • The Bukas Tuition Installment Plan is an alternative school payment plan that can cover up to 100% of tuition and is payable in 12 monthly installments with only 1.5% monthly flat interest rates and 3% service fee
  • How does the Bukas Tuition Installment Plan work?
    • . Our installment plans help you enroll in our partner schools immediately and hassle-free! Once your application is approved, we disburse the full requested amount to the school, and you only pay your monthly dues every month for 12 months.
  • What programs does Bukas finance?
    • Bukas finances tuition and school fees of both Undergraduate (College) and Graduate (Masters, Doctorate, Law and Medicine) programs that are administered by our partner schools
  • Can I use Bukas to finance my High School and Senior High School tuition?
    • Unfortunately, we do not have a facility to Finance Basic Education, including High School and Senior High School

Tuition Installment Plan Application

  • What are the requirements to become a Bukas.ph borrower?
    • 1. You must be 18 years old.
      2. You must be a student at one of the partner schools of Bukas. (Emilio Aguinaldo College, Far Eastern University Manila, Makati and Tech, Jose Rizal University, Lyceum of the Philippines Manila and Makati, Mapua University Manila and Makati, and National Teachers College).
      3. You must be a Filipino citizen.
      4. You must have a guarantor that is at least 21 years old and earns income
  • How do I apply for a tuition installment plan?
    • 1. Go to https://bukas.ph and click on "Apply"
      2. Accomplish the application form.
      3. Agree to the initial offer.
      4. Upload copies of the required documents.
      5. Submit and wait for the approval email
  • What fees can I apply for?
    • All tuition related fees; these would include the per unit fee, the miscellaneous fees and all other fees that are found in your school tuition statement
  • What documents do I need to apply for a tuition installment plan?
    • Student
      • Your school ID (if you are not a freshman)
      • School billing / tuition and school fees assessment.
    • For guarantors and working students
      • Valid government-issued ID
  • I still don't have a school ID. What do I submit?
    • In lieu of your school ID, you can submit a school document that bares your name and student number as well any valid picture ID
  • My term is over and I still have payments for my existing Bukas Tuition Installment Plan. Can I still borrow for my next term?
    • Yes, you can borrow for your next term, subject to qualifications. If you have consistently paid for your existing plan's monthly amortizations, the remaining principal balance from your first installment plan can be transferred to your new plan's principal. The tenor of the installment plan will be refreshed to 12 months, and your monthly amortization dues will be adjusted with the applicable interest.

Installment Plan Payments

  • How much interest do I have to pay?
    • Interest rates are currently fixed at 1.5% to 2.0% per month, payable in 12 months
  • Are there additional fees I have to pay?
    • A minimal origination fee of 3% is added to the total amount applied for. For example, if your requested amount is Php 30,000.00 the origination fee is Php 900.00
  • How will I receive the amount I asked for?
    • Upon approval of the Tuition Installment Plan, Bukas will remit your tuition fee directly to the school for a hassle free transaction. You will receive a notification upon the completion of the transaction
  • When do I start paying Bukas?
    • 30 days after the agreement date which is also the date that the funds will be paid to the school
  • How do I pay?
    • 1. Union Bank branches (over-the-counter) via Bills Payment Facility
      2. Union Bank Online Banking via Bills Payment Facility
  • What happens if I don't pay the plan on time?
    • A late payment fee will be charged equivalent to 5% of the unpaid portion of the scheduled monthly installment.
  • What happens if I only pay the partial amount due?
    • If you pay only a part of the full amount due for the month, you will still be charged a 5% late fee based on the remaining balance that is overdue.
  • I paid my monthly due but haven't received a confirmation yet. How do I check my updated balance?
    • After paying, please wait 1 to 2 business days for your payment to be reflected online. To check your updated balance, you can log in your Bukas account and you should see the current balance of your installment plan. If you want to see a monthly breakdown of your payments, click "Payment Schedule".