Managing your child’s school expenses? Here’s how to stay in control
For most schools, the year has just begun. And while students have already turned a fresh new page in their academic career, some parents may still be found fretting over how they can afford a whole new year of tuition fees and other school expenses.
The numbers may appear daunting, but there are some ways you can stay on top of payments, particularly for your child’s school:
Save a portion of your monthly income for your child’s education
Now that you have an idea of how much you should be shelling out per school year, you can plan how much per month you need to allot from your income and contribute to the school fund.
Negotiate the payment schedule with the school
Talk to the school about paying in installments fitting to your current financial situation. Just be mindful of the interest rates of the school’s payment programs, especially for longer paying terms.
Review the tuition fee inclusions
Tuition fees may already include essentials like books and supplies, which you can purchase outside the school to help reduce the total amount. An example would be secondhand books which can be sourced from mom groups that sell their children’s pre-used books at lower prices.
Partner with a bank that provides installment options at low-interest rates
A bank can become your reliable payment partner for high, long-term dues—and what could be a greater priority than your child’s education, right?
EastWest Credit Card’s Tuition Installment Facility gives cardholders the option to reimburse tuition fee transactions and repay them in fixed monthly installments through their credit card. With a minimum of PHP 10,000.00, the transaction amount can be paid in easy and flexible installment terms of 3, 6, 9, 12, 18, 24, and 36 months with monthly add-on rates of as low as 1.00%.
“The country’s current situation brings about a lot of financial uncertainty, so it’s vital for us to plan ahead especially for big-ticket expenses such as the tuition fees of our children,” EastWest FVP & Head of Credit Cards and Business Governance, Mia Tamayo said. “EastWest helps our customers do just that—stay in control of specific priorities such as their children’s education through our products. Hearing about the positive impact these have made on their lives fuels us to level up our services even more.”
EastWest Credit Card’s Tuition Installment Facility promo will run until December 31, 2021 and is open to all active EastWest credit cardholders in good credit standing. To learn more, visit bit.ly/EWBTIFPR. To apply, call the EastWest 24-hour Customer Service Hotline at +63288881700.