Land Bank study now, pay later application and requirements


What are the requirements for the study now, pay later program of ?

Land Bank of the Philippines announced Thursday that it offers up to P300,000 in loans for parents and guardians of students under its “study-now-pay-later” program in the school year 2021 to 2022.


Under the LANDBANK ACADEME (ACcess to Academic Development to Empower the Mass towards endless Opportunities) Lending Program, LANDBANK has allotted a total program fund of 3-billion in credit support for private high schools, private technical and vocational education training institutions, as well as Higher Education Institutions (HEIs) such as colleges and universities, to provide continuing education to their students.

Land Bank study now, pay later application and requirements


  • Private/Non-DepEd Junior/Senior High Schools with permit to operate by DepEd
  • Private TVET Institutions in partnership with and being regulated by the Technical Education and Skills Development Authority (TESDA)
  • Private HEIs such as Colleges and Universities with undergraduate programs authorized by CHED and that the HEIs must be accredited by any of the following:
    • Philippine Accrediting Association of Schools, Colleges and Universities;
    • Philippine Association of Colleges and Universities’ Commission on Accreditation;
    • Association of Christian Schools, Colleges and Universities Accrediting Association Inc.; or
    • Federation of Accrediting Agencies of the Philippines




a. Masterlist of sub-PNs to be assigned

b. DepEd or CHED’s Permit to Operate as an education institution

c. Securities and Exchange Commission-certified Registration Papers

d. List of major owners and officers and their official designation in the Institution with their personal data and 2×2 ID pictures

e. Board Resolution authorizing the school’s representative to obtain, negotiate, mortgage, sign and enter into a loan agreement with LANDBANK

f. Audited BIR-filed Financial Statements for the past 3 years plus the interim Financial Statements

Note: Applicable only if the above-listed documents are not on LANDBANK’s file.


a. Letter-request to avail from the approved LANDBANK loan signed by the school’s authorized signatories, indicating among others the following:

1) Amount of loan to be availed based on the sub-PNs to be refinanced

2) 3-year term of the loan

3) Loan purpose

b. PDCs to cover principal and interest amortizations

c. The school shall maintain custody of all sub-borrower PNs including underlying collateral, if any. The school shall submit a notarized undertaking to keep custody of the sub-borrower’s PN and its underlying collaterals which had been assigned in favor of LANDBANK, and that the same are open for inspection and audit by LANDBANK representative, anytime at the Bank’s discretion.

d. Authority to debit account for loan repayment


70% of the PNs issued by the parents/benefactors of the students on a per-semester basis and subject further to a maximum amount based on the school’s net borrowing capacity as per LANDBANK computation.


3% per annum fixed up to the maturity date

Also read: DepEd asks private schools to delay tuition fee increase