WHAT do most parents think about when it’s back-to-school season? While it’s nice to think about seeing your first grader weave ambitions or help a high-school senior decide on what course to take in college, the truth is parents are mostly preoccupied with worrying about practical realities. Think of school, and the next thing that they do is worry about one thing: tuition.
And it’s hard not to. Because of recent financial setbacks that swept the country, even the upper-middle to upper-income families have tightened belts and have become more conscious of how to spend hard-earned money. Now more than ever, every peso counts. Those who used to pay tuition in full upon enrollment now think twice: Is it better to just pay every quarter? Every month? What if funds are not sufficient for the next payment period?
Tuition is not the only thing to anticipate; at times, the so-called miscellaneous fees and other education-related expenses such as uniform fees, laboratory fees, board and lodging fees, not to mention daily allowances, also eat a big—if not a bigger—chunk of a family’s budget.
Fortunately, financial institutions such as banks have developed products and services that allow paying school fees through credit. But steep interest rates could also put a toll on the pocket. Acknowledging this, Security Bank Corp., launched as early as April this year its “Tuition Light” promo to remain responsive to the needs of its customers, as it celebrates its 60th anniversary this June.
Paying tuition has become easier and lighter with Tuition Light. Open to primary Security Bank MasterCard and Diners Club cardholders with active and current status, Tuition Light offers as low as 0.88 percent monthly add-on interest rate and allows flexible availment options. The promo can be availed either during the pre-enrollment or post-enrollment phase.
For pre-enrollment, Tuition Light assures that students can be enrolled even when there is no immediate access to cash. To avail themselves the promo, the cardholder just needs to submit the school’s official enrollment or assessment form and required supporting documents.
For post-enrollment, Tuition Light can be used to reimburse tuition fee expenses. To avail themselves of the promo, the cardholder only needs to present the official receipt of the school and required supporting documents (original or photocopy).
Aside from tuition, Tuition Light can be used to reimburse other school-related expenses such as school supplies and uniforms. To reimburse, the cardholder just needs to present the official receipt of the merchants and required supporting documents (original or photocopy).
Cardholders can avail themselves of the promo with a minimum amount of P5,000, while maximum availments must be within the cardholder’s available credit limits and are released through checks. Checks may be issued directly payable to schools or to the cardholder and can be picked up at the Security Bank head office in Ayala Avenue, Makati. Checks payable to the cardholder can also be deposited directly to the cardholder’s bank account with Security Bank or with another bank. Promo runs until June 30, 2011.
Tuition Light is just one of the many promos under Security Bank’s ChargeLight Installment Plan.
