FAQs

Frequently Asked Questions

For a Filipino version of this page you may go here

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

Applying for a Tuition Installment Plan

  • What are the requirements to become a Bukas borrower?
    • 1. You must be a student (at least 18 years old) at one of Bukas' partner schools. Our partner schools are Mapua University Manila, Mapua University Makati, LPU Manila, LPU Makati, Jose Rizal University, Far Eastern University Manila, Far Eastern University Makati, FEU Tech, Emilio Aguinaldo College, Our Lady of Fatima University Valenzuela, Our Lady of Fatima University Quezon City, Our Lady of Fatima University Antipolo, and National Teachers College.

      2. You must be a Filipino citizen.
  • How do I apply for a tuition installment plan?
    • 1. Create an account at app.bukas.ph/register and fill up your profile
      2. Fill up an application form. You can view the Initial Computation here (this serves as a rough estimate and may change by the final approved amount)
      3. Upload your Selfie with Student ID, and Tuition Form
      4. Submit your application and wait for the approval SMS
      5. Confirm your agreement
      6. Wait for an SMS to confirm we've disbursed the approved amount to the school

      For the amount to reflect in your respective school's student portal, it would take around 2-3 business days. We suggest reaching out to the schools or presenting the confirmation SMS as proof of payment.
  • 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?
    • Your school ID
    • School billing / tuition and school fees assessment.
  • I still don't have a school ID. What do I submit?
    • In lieu of your school ID, you can take a selfie with any government-issued valid ID. For a list of valid government IDs you may click this link here
  • 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. Please note that our team can approve, reject, or cancel a loan at any time if we find that you do not meet any of our qualifications.
  • How long does the application take?
    • It takes around 1-2 business days for you to receive feedback from our team. Once your application has been approved and you've confirmed your agreement we disburse the amount within 1 business day and from there school portals may take 2-3 business days for it to reflect in your student profile.

      Take note that business days is Mondays through Fridays, excluding weekends and holidays, from 9 AM to 5 PM.

Installment Plan Payments

  • How much interest do I have to pay?
    • Currently, our interest rates are fixed at 1.5%- 2% per month, and payable in 12 months. We also charge a one time origination (service) fee of 3% is also added to the principal amount. For example, if your principal amount is PHP 30,000 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
      You may go to this link here for exact instructions on how to pay
  • 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.
  • Can I complete my installment plan in less than 1 year?
    • Yes you can pay your loan ahead of time. If you're able to pay the total principal earlier than the last payment date you can do so and even avail for recomputation of interest. You can request it via emailing info@bukas.ph
  • 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".