What is the difference between Multiple Installment Plans (MIP) and the 1st plan?

The application will undergo the same approval process as your first plan. You will need a co-borrower, an additional contact person, and updated documents (school assessment form, proof of residence, and proof of income).

This process will also take 3-5 working days and will be disbursed directly to your school.

Payments will also start at least 30 days after the date of activation. Instead of monitoring 1 repayment date, you will have to take note of 2 or more repayment dates. The schedule of all your installment plans can be seen in your My Installments Tab on your Bukas portal.

Note that we cannot change account owners in between installment plans. This means that student-owned accounts cannot become parent-owned accounts in succeeding loans. Make sure to enter your details accordingly.

Please take note of the following:

• In some instances, the interest of your additional plan may be slightly different from your first installment plan. If this is the case, you will be notified via SMS or email. To know more, click here: Rate Change 2024
• All loan offers are conditional. As long as a loan has not yet been disbursed to the school, Bukas Finance Corp. reserves the right to withdraw any loan agreement.