PEÑABLANCA, Cagayan – The Medical Colleges of Northern Philippines, Inc. (MCNP) and the International School of Asia and Pacific, Inc. (ISAP) led by OIC President Christian Einstein R. Guzman (left), were among the first academic institutions that availed of the ACADEME (ACcess to Academic Development to Empower the Masses towards Endless Opportunities) Lending Program of Land Bank of the Philippines (LANDBANK), to help them implement a “study now, pay later” plan for their students amid the financial difficulties facing families due to the COVID-19 pandemic. President Guzman signed a P10-Million Term Loan Rediscounting Line with the LANDBANK Cagayan Lending Center led by Assistant Vice President Victor A. Agorto (3rd from left). Joining them are LANDBANK Account Officer Antonio P. Cepeda Jr. (2nd from left) and MCNP-ISAP Scholarship Coordinator Beverly A. Cannu (right).
As of July 7, 2020, a total of Php260 million in loan agreements have already been approved by LANDBANK under the ACADEME Lending Program, with at least 80 more private educational institutions expressing interest in accessing the credit facility, which was launched in May 2020. LANDBANK has allotted a total program fund of P3-billion in credit support for private high schools, private technical and vocational education training institutions, as well as Higher Education Institutions (HEIs) such as colleges and universities, to provide funds to parents or benefactors of students for their continuing education despite the pandemic.
