1. Can MBA students pay by installment? Answer: No. The UP Board of Regents (BOR) did not approve the installment basis.
2. If NO, how much is the student loan interest? Answer: Student loan interest is 6% per annum.
3. If a student takes out a loan in the first semester/trimester, can he/she take out another student loan in the second semester/trimester? Answer: The student loan should be paid by end of classes for the semester/trimester (as per academic calendar). The due date for the CURRENT load is on the last day of the current semester/trimester. The student may still enroll in the succeeding semester/trimester; however, the student will not be cleared and will be tagged at the UIS with the unpaid balance.
4. What is the maximum term for the students to pay the loan? Answer: The general rule is that the current loan must be paid BEFORE taking another loan. If a student is unable to pay, he/she needs to write an appeal letter addressed to the university chancellor, through the Office of Student Affairs (OSA) and the college dean. As per BOR approval, the maximum term of the loan is three (3) semesters or three (3) trimester, IF and ONLY IF the chancellor approves the letter of appeal and subject to the conditions set by the OSA.
5. Can a NEW student file for a student loan? Answer: Yes.
For student loan applications and concerns, Ms. Flor of the Accounting Office is the person-in-charge for student loans.
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