Company Information
Bukas Finance Corp. is one of the organizations that offer financial assistance to Filipino students who have been denied scholarships and grants. Bukas is a subsidiary of ErudiFy Group, Southeast Asia’s market leader in education financing.
The name “Bukas” is a Filipino word that means “tomorrow” and was chosen to complement the company’s goal of encouraging Filipinos to build a better future by offering affordable tuition installment plans. The company is legally operating in the Philippines, and its headquarters can be found at 30F, Yuchengco Tower, 6819 Ayala Ave, Makati City. Their Securities and Exchange Commission (SEC) Company Registration number is CS201901691 with Certificate of Authority No. 1199.
Students interested in applying for a student loan from Bukas Finance Corp. can send an email at [email protected] and to any of the Bukas’ social media profiles listed on its website between 9:00 AM and 6:00 PM, Monday through Friday.
Products and Services Offered
Tuition Installment Plans
Tuition fees, especially for private Universities, do not come cheap. Parents work so hard to ensure their children’s future by providing them with world-class education. Unfortunately, the tuition fee in the best universities does not come cheap.
With Bukas Tuition Installment Plans, parents no longer have to worry about where to borrow money for their children’s education. In the same way, students can focus on their studies knowing that they can take their exams, purchase their school supplies and fulfill school requirements on time.
Loan Features
Loan Amount: ₱10,000 – ₱100,000
Interest rate: 1.5% per month
Loan Term: 12 months
Origination Fee: 3% (Will be paid in the duration of the loan repayment, so borrowers need not worry about this amount getting paid upfront)
Eligibility & Requirements
- Filipino citizen
- At least 18 years old
- Enrolled as an undergraduate or graduate student at one of Bukas’ partner schools
- School ID
- Additional Requirements / Information
- Guardian and his/her contact details (currently residing in the Philippines and at least 21 years old)
- Guarantor (responsible for handling and taking care of the student’s payments)
- Guarantor’s Proof of Income
Why Choose Bukas Finance
Reliable
Being scammed is one of the reasons why Filipinos are discouraged from seeking a loan. However, with Bukas, students can be confident that all of their transactions are legal and comply with Philippine laws.
To confirm the company’s legitimacy, borrowers can verify the Bukas’ Company Registration No. CS201901691 and Certificate of Authority No. 1199 are listed on the SEC website.
Mobile-Only Applications
Like other loans, Bukas Finance Corp. uses technological advancements to speed up transactions. Borrowers only need to visit the company’s website, create an account, set up a profile and reach at least Profile Level 3, and provide all the information and documents needed on the application form.
Applicants must provide additional information and reach Profile Level 5 to boost their chances of being qualified.
Fast Disbursement
Signing up for a loan with Bukas can only take up to 10 minutes of the applicant’s time, provided that all requirements are complete. The same is true for the tuition disbursement. Following the loan approval, the issuance of funds can happen within 24 hours from the time of approval.
Several Partner Schools To Choose From
Although Bukas student loans are only available to their partner institutions, there is a good range of universities to choose from, and the majority of them are every Filipino student’s dream school.
If the students are unable to find their desired schools from Bukas’ list of partners, they can fill out a form on the website, and Bukas will evaluate the possibility of partnering with the student’s preferred school.
How to Sign Up
Signing up with Bukas is very easy and completely online. Here are the steps that loan applicants can follow.
Visit the Bukas website and click the ‘apply’ button located in the upper right-hand corner of the home page.
Click “Next” to proceed to the Registration page.
Click “Register”.
To find your school, enter the name of the school in the search bar and click on it. Your Student ID number will be required to be entered to proceed to the next step.
Input your mobile number and set up your password then click “Next”. Make sure to never share your password with anyone.
Carefully read the Terms and Conditions. Once done, click “I agree to the Terms and Conditions of Bukas” to proceed.
The app will ask you how did you find or heard of Bukas. Select the most applicable answer for you, and then click on Submit. You will then proceed to your profile creation.
Setting up the student profile will help Bukas verify the identity of the student applying for a Tuition Installment Plan.
Scan and upload a valid ID. After that, take a selfie with your ID and click “Next”.
Provide your personal information, email ID, school, and education program. Review the information provided and then click on Submit.
Click “start verification”‘ for Bukas to commence verifying the information that was provided to them.
Scan and upload the student’s valid school ID.
Once done, the loan applicant can start applying for an installment plan or choose to do it later once all the requirements are complete.
Frequently asked questions
Who are the Partner Schools of Bukas?
What valid IDs does Bukas accept?
Can borrowers apply for a loan before the enrollment period?
How many times can a borrower re-apply?
How can borrowers pay for their monthly dues?
Can borrowers get funding for the whole school year?
How can borrowers edit their (or their guarantor’s) profile information?
Can borrowers get additional coverage for the next term/semester even if they still have an existing Bukas Tuition Installment Plan?
Conclusion
Bukas Finance Corp. makes it possible for parents and even working students to manage their educational funds, which is highly beneficial during this economic crisis. With this kind of financial support given to the future leaders of this country, achieving their dreams is possible. Moreover, they will also become moneysmart, resulting in a financially informed and independent adults.
Students face many challenges every day, and having to also deal with financial difficulties will distract them from their studies, which is a scenario that parents would not want for their children. This makes Bukas an excellent avenue for parents to have access to affordable student loans while keeping their children focused on their studies and building a bright future.