Let’s make it easy for Filipino students to survive the costly college life


Stories of overstaying students in a university, reaching up to seven years, have come out. Bad grades are cited as one reason. But, there are students who perform so well in school; the only problem is insufficient funds to pay for increasing tuition fees.

Education is a form of investment, and it is one of the smartest ways to place your money in. But the question looms, “how can I invest in education with a few money in my pocket?”

Let’s make it easy to make the money grow.

A couple of years back, the Bank of the Philippine Islands (BPI) launched its first fully mobile microfinance banking institution called BPI Globe BanKo. This microfinance bank caters to microfinancial institutions such as rural banks, and small-scale businesses such as sari-sari stores, bakeries, talyer, and the like.

But most importantly, it caters to the members of the Filipino grassroots, the “unbanked.” Comprising the group of the unbanked are tricycle drivers, palengke vendors, kargadors, truck drivers, jeepney drivers, as well as the mangangalakal. The last thing we heard about, these people are also part of the economy.

However, the quoted term is still debatable. The “unbanked” goes beyond this pool of Filipinos. A Forbes report said only ten percent of the global population has access to traditional banking, which means there are still billions of people who do not have access to banks.

With the transactions done by BPI Globe BanKo, these people are given the chance to save up money and fulfill their life long dreams. All a person needs is a photocopy of a valid ID, a Globe or TM SIM and PHP 100 to have a legitimate savings account.

But what if we utilize this scheme by the BPI Globe BanKo for university and college students to get through increasing tuition rates and live a college life that is both fulfilling and worthwhile?

Studying the services, procedures and figures of this innovative mobile banking, it is possible. 

The Start of Higher Tuition Rates

In the past few months, students of the state university, the University of the Philippines System went through a series of tuition rate increase. The cause? The new socialized tuition system. With the series came another series of applications submitted and pending papers just for a student to be out of the default bracket — which requires students under this group to pay PHP 1,000 – PHP 1,500 per unit.

What’s big fuss? Learning history that the school came from a time when tuition fees can be paid with coins from a small pocket, the UP students who are formerly in the lower brackets (with fees as low as PHP 200) can’t seem to face that one day, they’ll see that they are required to pay as much as PHP 1,500 per unit.

Protests followed. The UP administration said there is no change, apart from the in the income bracket adjustments. This latter adjustment pushed Bracket B students to pay under the scheme for Bracket A student.

Therefore, an increase.

The rest of the Philippine universities, unfortunate to have no culture of student protest, has long suffered from this dilemma.

Then, There’s The Solution

Thankfully, Ban Ko came to the rescue, made possible through the partnership with Ayala Corporation and Globe Telecom.

Who can have access to BPI Globe BanKo? Just to name a few: a tricycle driver who wants a new car, a palengke vendor who wants to have a taste of gourmet meat dishes, a working college student who wants to finish a Master’s degree, and a jeepney barker who wants to buy his own house.

Stories of students working part-time in call center and BPO industries only to pay for their academic fees came out. There are also stories of working college students who also spend for the maintenance medicines of her father, aside from the tuition, and therefore comes out as abonado pa.

Just How Is Paying For Tuition Fees Is Made Easier With This System?

1. A 15-year-old college freshman can open a BPI Globe BanKo account. Goosebumps over here but kids as early as seven years old may apply for a BPI Globe BanKo account with a valid school ID. Passing the entrance exams to your favorite Universities is one thing, but being independent enough to shoulder the fees is another great thing.

2. Why bother your parents to pay your summer classes for just three to nine units? Let your parents enjoy the money that would have been used to pay your tuition for the summer classes, to have a nice spa treatment or a nail polish. Or maybe, even pay for your two-semester worth of tuition.

Start paying your tuition fees with your own pocket money, that may come from: (1) your side line and graveyard shift as a party club promoter, if you are 18 years old and above, (2) your graveyard shift in the generous and considerate BPO industry, when it comes to the employment pool, (3) your daily baon, and; (4) your piggy bank.

3. How about to just open an account in main BPI Savings Bank branches? We know all about the BPI Jumpstart card, for teenagers who want to “save.” But there are the lot of factors why it’s still better to open an account in BPI Globe Ban Ko. Here’s why:

a. All-time low interest rates. BPI Globe Ban Ko has all-time low interest rates, if you want to make your bulk saving grow. Compared to the main BPI and BPI Family Savings Bank, your money shall grow faster in a shorter period of time. Deposit accounts with P2,000 average daily balance can earn 3% interest rate per annum.

b. No maintaining balance required. There is no maintaining balance required, unlike the main branches which require at least P100, depending on the account you will be opening.

c. Purchase mobile phone loads with discounts to save greater amounts. Trying to gather up and calling group mates and classmates for a project that has to be submitted the next day, but short of funds to buy cellphone load? No worries, as long as you have savings in your BPI Globe BanKo account, you can go to the nearest BanKo outlet and purchase the load amount you want. Plus, savings!

c. Receive great discounts everytime you reload your mobile phones. BPI Globe Ban Ko account holders are given the privilege non-account holders do not receive, such as great Globe load discounts. Buy mobile load worth P 10 – P 49.99 and get 7% off, purchase mobile load amounting from P 50 to P 99.99 and get 8% discount, and when you buy mobile load worth P 100 above, you get 10% off!

d. Boarding house and dormitory electricity bills can be paid through BanKo. From electricity, Internet to water fees, Ban Ko is now your new Bayad Center.

e. The next semester comes in and new tuition fees arrive, but you are short with funds. No worries. There’s nothing wrong if your mom runs a small sari-sari store or if you dad runs a car mechanic shop. In fact, this microfinance bank can help these businesses to grow, to get additional funding to start another branch where most of your tuition probably comes from.

This microfinance bank accepts loan applications for microfinance institutions, rural banks and NGOs, in a way that is more secure with lesser hassles. But we’re not saying that you don’t trust your University loan programs and org tambayan loan schemes. It’s just that going through the bank loans is a more secure way to loan finances.

f. Your relatives can easily send funds through Globe Ban Ko’s money transfer. 

We know these BPI partner outlets are located perhaps in small loading stations, sari-sari stores, palengke stalls, or pawnshops, in a gritty environment. Because of this, you might worry about your money’s safety. But what’s the fuss? You don’t talk about safety when your finances are handled by BPI.

Visit the official website of BPI Globe BanKo here, and learn more about their services. The bank has helped many microfinancial institutions and small businesses grow. It’s just waiting for you




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