Making education accessible continues to be Bukas’ mission. We aim to provide Bukas Tuition Installment Plans as a flexible tuition payment option for college and graduate students across the country.
However, we are not immune to our country's economic situation. We value transparency, which is why we inform you of the rate changes as soon as possible to give you ample time for necessary adjustments. Still, we assure you that our rates remain friendly, so that we may continue to serve students and families.
Note: The rate change will apply starting May 17, 2023.
Frequently Asked Questions (FAQs)
1.What are the changes in the Bukas tuition installment plan’s rates?
For first time borrowers, our interest rates remain 1.5% plus a 3% one-time origination fee for all applications.
Starting May 17, 2023, there will be changes for repeat borrowers or students applying for Multiple Installment Plans (MIP). Depending on your previous payment behavior, monthly interest rate may change to 1.9% and the origination fee to 3% for your reapplication. Otherwise the 1.5% interest rate plus a 3% one-time origination fee will still apply.
See sample calculation below:

- How will this affect my ongoing tuition installment plans?
For first time applications, the 1.5% monthly interest rate and 3% origination fee will still apply.
For tuition installment plans processed on May 17, 2023 onwards, the new monthly interest (1.9%) and one-time origination fee (3%) will apply to select repeat borrowers depending on payment behaviour. Should there be changes to your application, you will be notified via Email or SMS.
There will be no changes in your monthly repayment for your existing activated installment plans.
- How do I know if I DO NOT qualify for the 1.5% interest rates for my second or third installment plan?
You will receive an email and SMS informing you of this. Please read instructions and next steps in the email carefully. For assistance, you may reach out to us at [email protected].
- If my first installment plan was activated before May 17, 2023, which rates will apply to my next installment plan/s?
The rates of your new application will still depend on your current payment behavior. To continuously enjoy 1.5% interest rates and 3% origination fees, maintain good payment behavior by paying in full and on time.
- If I submitted an application before May 17, 2023 but the results came out after May 17, which rates will be followed?
All reapplications are subject for approval. If you were approved for the new rates (1.9% interest rate, 3% origination fees), you will be notified via email or SMS.
- I submitted an application before May 17, 2023 but canceled it because I wanted to change some information / update my requested amount. I plan to submit a new application on or after May 17, 2023. Which rates will be followed?
If you are a first time borrower, you will still enjoy 1.5% interest rates, 3% origination fee. However, if you are applying for a second or third installment plan, interest rates for your new application will be subject to processing. Please note that, depending on the payment behavior, you can be extended to our new interest rates (1.9% interest rates, 3% origination fee).
Please note that once you enter a requested amount, you can no longer change it. If you need help with revising your information, please refrain from cancelling your application and send an email to [email protected] instead.
- Will Bukas installment plans still be payable in 12 months?
Yes. Bukas installment plans are still payable for up to 12 months.
- With the rate changes, will I still be able to pre-terminate my plan?
Pre-termination is the process of settling all your balances with Bukas in less than 12 months. This also means closing your Bukas installment plan before the last due date. Note that pre-termination is free and you also have the chance to be eligible for interest rebates. The interest rebates will be based on the rates indicated in your contract.
Even with the rate changes, you can still request for pre-termination of your plan. To request for pre-termination and a re-calculation of the interest of your plan, please send an email to [email protected] . To learn more about pre-termination, please visit this link: https://bukas.ph/help-center/can-i-pay-advance/
- Why was I approved for the 1.9% interest rate?
Your application and any previous installment plan is reviewed thoroughly by our team. This includes a review of your documents and your payment behaviour. This means that we cannot guarantee that your application will be approved and provided the 1.5% interest rates.
- I was approved for the 1.9% interest rates for my second application. What can I do to return this to 1.5% interest rates?
Practice good payment behaviour by paying on time and in full. Our team also does regular reviews of your installment plans when you reapply for a new one.
- Why is there a rate increase? How often will there be a rate change?
To respond to the current economic situation of the country, we also have to adjust our rates. This will allow us to continue providing flexible tuition payments and high-quality service to students.
As of the moment, there are no scheduled price changes apart from the one to be effective on May 17, 2023. Note that any price changes will be announced.
- I still have questions about the rate changes. Who can I contact?
For questions about the rate changes, please send an email to [email protected] with the subject “Rate Change” for faster response.