Educational loan in the Philippines had a new name today. Back in the 1980's all I knew and came to know about it is that it is called as tuition fee loan or the SSS study now pay later plan loan program. Today, any personal loan or collateral loan may be called as one. Why? It's simply because the loan proceeds will actually depend on where you will use it, therefore, if you use your money to pay for tuition fee of your kids, you might as well call that loan as tuition fee loan.
Other types of loans may also be called as one. Even if you apply for the car loan, seaman loan, doctor's loan, house and lot for cash, taxi loan, tricycle credit, jeepney for cash advance and the like, for as long as you will use it to pay for the tuition fee of your kids, it still can be called tuition fee loan.
This is basic understanding and I just wanted to tip you off with this one so there will be no confusion whatsoever when you apply for it. Whichever you can qualify to apply for cash advance, you can use it for whatever purpose it may serve be it to pay for the enrollment fees of your children or yourself.
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