IF there’s one thing that Filipinos value the most, it’s education. Perceived as life’s greatest equalizer, families strive to ensure their children finish school and set them up for success, but this does not come without challenges. Oftentimes, financial strains result in students having to take a gap year or even stop attending school altogether.
In realizing the dream of a better life through education, one can find a reliable partner in Tala Philippines. The world’s first fintech company for the global majority, Tala provides convenient and flexible online credit that can help parents overcome financial hurdles they may face while sending their children to school.
“Tala levels the playing field by increasing customers’ access to financial services and promoting financial literacy, giving families the opportunity to support their children’s schooling and achieve their goals in life,” said Charisse Alavarez, President and Head of Finance of Tala Philippines. “May it be for long-term solutions or urgent needs, Tala is with you in your journey to success.”
Ailyn, a stay-at-home mom from Cagayan De Oro City, initially applied for a loan from Tala to start a small business as a way to support daily expenses and her mother’s medical costs. As her loan limit grew, she was able to expand her sari-sari store and is now capable of planning for a brighter future for her family.
“Even if I’m a housewife taking care of my children, I still want to have my own income. Now, I’m focused on saving for my children’s education,” she said.
Tala users like Ailyn have started businesses with capital as low as Php 1,500, and with resiliency and hard work, they are able to pave the road to success . The Tala app allows customers to apply for a loan of up to Php 25,000 and the flexibility to choose their repayment dates.
Just like Ailyn, a lot of parents strive and work hard to build an education fund for their children. Since it’s not something that can be achieved overnight, it’s always best to start as soon as possible. First, identify your desired school and check the tuition fee. Factoring in possible increases over time due to inflation as well as additional expenses like school supplies, uniforms, transportation and other miscellaneous fees, set a realistic target amount for your fund.
From here, try different savings strategies like the 50/20/30 method or automating your savings until you find one that best suits your income and lifestyle. Check out scholarship options and financial aid offered by schools as well, and opt to reuse uniforms, gadgets, and school supplies that are still in good condition to help manage education expenses more effectively. You can also look into diversifying your income by starting a small business from your home with the help of Tala’s accessible and reliable financial services.
With the back-to-school season just around the corner, striving towards the Filipino dream of a better life can be reached and with a reliable financial partner like Tala, that dream may not seem so far. Visit tala.ph and download the official Tala app to know more.
