Study Now Pay Later Program

This program targets junior and senior college students who can no longer continue their studies since they are financially scarce. The reason behind selecting junior and senior college students is because, often times, the students drop out from universities/ colleges at these levels, based on our findings/experience in the communities we have operated. Moreover, junior and senior students have shorter time to spend in schools, thus helping them is deemed to be more strategic as they can help their families immediately once they get employed. Also, since they are more likely to repay in just two years, this implies that the funds will be returned in a shorter span of time, enabling the program to cater to more students in a shorter span of time.

Students wChaiMovieYouthho qualify in this program must have a low household income; i.e. parent/s earning within and below minimum wage. Ten thousand pesos (Php 10,000.00) is loaned to the selected student per semester and this will run for two (2) years. It will cover/ partly cover the tuition fee of the student, which according to the parents is a really big help.

One important component of this program is the values formation. CHAI believes it is a key strategy for sustainable development. In this regard, it encourages students to be good stewards of the resources, thus requiring them to meet the passing grade set by the universities/ colleges. Also, upon graduation and upon being employed, they are expected to repay within two years with an equity interest of 3%. The 3% equity interest that 10 students who will repay will enable another new student to start a new program cycle. The 3% equity interest is also aligned to the organization’s belief that there has to be equity and that dole out method can never bring about sustainable development.

Still part of the values formation component, the selected student is required to assist in the weekend tutorial program for the elementary students in the poor community. CHAI desires to inculcate to the SNPL beneficiaries the importance of caring for others and sharing their God-given gifts and skills that will foster a loving community.

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