Student loan platform launches P7M fund for nurses – BusinessWorld Online
InvestEd.pha student loan platform for university students in the Philippines, has expanded its global nursing education funding initiative, which aims to support the education of 800 qualified nursing students in the country over the next five years through an education fund of 7 million pesos.
The initiative, a collaboration with Johnson & Johnson Philippines, Inc., introduced a loan forgiveness incentive in July for nurses who will graduate and work in medical facilities nationwide. This aims to address the shortage of healthcare workers in the Philippines.
InvestEd’s initiative, as part of the alliance dedicated to helping future frontliners, aims to secure the education of Filipino medical students by removing socio-economic barriers. Nursing students who need help with tuition, housing, gadget expenses, board review, and additional credentialing fees can turn to the Revolving Education Fund of InvestEd, provided by J&J Financial Grant.
The loans follow a Study Now, Pay Later plan, allowing students to complete their education first and start repaying once they find work. Additionally, students under the initiative will have access to InvestEd’s Education-to-Adulthood digital coaching program.
“A crucial aspect in the fight against present and future pandemics is that we secure the supply of our future frontliners,” said Carmina F. Bayombong, co-founder and chief executive officer of InvestEd, in a press release. “The Alliance for Future Frontliners aims to ensure that our future frontliners gain the financial and psychological support necessary to reach graduation day and succeed in the noble work they do.”
“One of the great things about this project is the exploration to do analyzes on the risk, success and retention of nursing students,” added Ms. Bayombong.
In July, a group of nurses criticized the administration of President Rodrigo R. Duterte for its failure to address the shortage of nurses and other health care workers. — BH Lacsamana