Why Filipino Students Struggle to Finance Study Abroad
The Philippines has one of the highest rates of English proficiency in Asia, produces world-class graduates in nursing, engineering, business, and technology, and has a deeply ingrained culture of investing in education. Yet for Filipino students with ambitions to study at international universities, the financing landscape remains painfully thin.
Studying at a top university in the United States costs $30,000–$60,000 per year in tuition alone. Even in the more affordable UK or Australia, Filipino students are looking at $20,000–$40,000 annually once accommodation and living costs are included. The total cost of a two-year Master's abroad can exceed PHP 4–6 million — out of reach for most families without structured financing.
"Filipino students consistently outperform peers on international academic benchmarks. The problem is not their credentials — it is the absence of financing infrastructure designed for them."
Financing Options Available to Filipino Students
1. Philippine Commercial Banks (BDO, BPI, Metrobank)
Philippine banks offer limited education loan products, mostly designed for local university fees. Where international loans exist, they carry collateral requirements, income caps, and 4–8 week processing times at 8–12% per annum interest.
2. CHED, DOST, and Government Scholarships
CHED and DOST administer scholarship programmes for Filipino students, including limited international study grants. These are highly competitive, STEM-focused, and rarely cover full cost of study including living expenses.
3. OFW Family Financing
Many Filipino families rely on remittances from overseas family members to fund international education. While effective for some, this approach creates financial dependency and doesn't scale to full international tuition costs.
4. International Platforms (GlobCred, MPOWER)
Platforms purpose-built for international students — no collateral, no US co-signer, and decisions in days. GlobCred connects Filipino students to over 60 verified global lenders through a single application.
How GlobCred Works for Filipino Students
Rather than assessing creditworthiness through Philippine banking history, GlobCred's lenders evaluate:
- The global ranking and accreditation of the admitting institution
- Post-graduation employment and salary profile of the programme
- The student's academic record and course of study
- Employment outcomes for comparable graduates in the destination country
"One application. 60+ lenders. Decisions in days. GlobCred gives Filipino students the same financing access that students from wealthier countries have always taken for granted."
Eligibility Requirements
- Confirmed admission: Offer letter from an accredited university in the US, UK, Canada, Australia, or supported destination.
- Programme level: Undergraduate, postgraduate (Master's, MBA, PhD), or professional degrees.
- Academic record and credit profile.
- Philippine citizenship with valid passport.
- No collateral required for eligible applicants.
Supported Study Destinations
| Country | Popular Programmes for Filipinos | Avg Annual Tuition |
|---|---|---|
| 🇺🇸 United States | MS Nursing, MBA, MS Computer Science, MPH | $25,000–$55,000 |
| 🇬🇧 United Kingdom | MSc, LLM, MBA, Nursing, Undergraduate | £15,000–£35,000 |
| 🇨🇦 Canada | Postgraduate Diplomas, Healthcare, Engineering | CAD 18,000–45,000 |
| 🇦🇺 Australia | Nursing, IT, Business, Education | AUD 20,000–45,000 |
| 🇮🇪 Ireland | Data Science, Healthcare, Business | €10,000–€25,000 |
Comparing Study Abroad Loan Options for Filipino Students
| Lender Type | Collateral | Co-signer | Processing Time | Max Amount |
|---|---|---|---|---|
| Philippine Bank | Often required | Sometimes | 4–8 weeks | PHP 500K–2M |
| Sallie Mae (US) | None | US citizen required | 2–4 weeks | $200,000 |
| GlobCred | Not required | Not required | Days | Up to $100,000 |
| MPOWER Financing | None | None | 2–4 weeks | Up to $100,000 |
How to Apply: Step-by-Step
Complete your free application
Visit GlobCred — takes approximately 3 minutes.
Upload your documents
Admission letter, academic transcripts, and valid Philippine passport.
Receive loan offers
Compare rates, terms, and timelines from multiple lenders side by side.
Accept your preferred offer
Complete the lender's KYC and verification process.
Funds disbursed
Directly to your university or designated account before your course starts.
Frequently Asked Questions
Ready to Fund Your International Degree?
Apply free in 3 minutes. Compare 60+ lenders. No collateral required.
Apply now