NEED BACK-TO-SCHOOL FUNDS?

GCash offers lending solutions to make education access more affordable

With the back-to-school season nearing, Philippine youth groups are questioning the impending tuition increase in select state universities, colleges, and private schools nationwide. This fee hike looms even while the country's inflation rate remains high at 6.1%, as the Philippine Statistics Authority (PSA) reported in June 2023.

As more and more Filipino families feel the weight of the tuition hike, the Philippines' #1 e-wallet app, GCash, offers several solutions to make paying for schooling-related fees more affordable and less stressful.

"We understand that with the upcoming school year's tuition hike paired in parallel with the country's high inflation rates, Filipino families are starting to view back-to-school expenses as an added struggle. It is exactly why we continue to maintain our lending solutions to be as accessible as possible," noted Zo Canaria, Head of Growth Marketing at FUSE Lending Inc. "The more solutions we can offer to ease Filipinos of financial burden, the more lives we can help elevate."

The Philippines has been accustomed to the stigma that comes with borrowing money. In fact, the Bangko Sentral ng Pilipinas' 2021 Financial Inclusion Report found that 50% of Filipino adults perceive borrowing from formal institutions to be "difficult" due to income and documentation requirements upon application.

GCash is working to change this belief by offering readily available lending solutions for different financial needs, allowing users to view loans as an effective tool in achieving their goals while staying within their means.