For the first time, parents can now secure a loan from the Philippine National Bank exclusively for the payment of their children’s tuition and fees at Silliman University.
This, after PNB and Silliman signed a Memorandum of Agreement on May 23 on a cash loan assistance that will enable students to finish school and obtain their degrees of choice in the University.
The amount available for the loan program will depend on the semester’s tuition fee, including payments for books and other miscellaneous fees, and will incur a monthly interest rate of only 1 per cent. The amount loaned will be directly paid to Silliman for the student’s account.
Silliman University President Dr. Ben S. Malayang III inked the agreement with PNB Executive Vice President for Retail Banking Joven D. Hernandez, together with Silliman Vice President for Finance & Administration Prof. Cleonico Y. Fontelo, and PNB Senior Vice President for Consumer Finance Elfren Antonio Sarte. Also present to witness the signing from PNB were Senior Vice President & Chief Marketing Officer Emmanuel Tuazon.
“Silliman seeks to provide the best possible education that we can give within the means of this university,” Dr. Malayang said.
Through the loan program with PNB, the President added that he hopes more can enroll in Silliman and avail of its quality Christian education.
Reflective of PNB’s social commitment, the loan program, Mr. Hernandez said is consistent with “our mandate is to help start economic development”.
“PNB, together with SU, would like to help assisting in the development of the community over the long board, because, when we have true educated professional people, we believe that we will have a very strong foundation for a very strong nation,” he added.
Loan applicants may secure the application form from the Manuel T. Utzurrum Business & Finance Center of Silliman University.
