BUY LAPTOP NOW, PAY LATER PROGRAM
(UPAE’s educational assistance program given the ‘new’ normal)
The COVID-19 pandemic has affected the formal education system in the country and has challenged our teachers, school officials, and more importantly, the students. The UP Alumni Engineers (UPAE) would like to assist the UP College of Engineering (UP-CoE), through this Buy Laptop Now, Pay Later (BLNPL) Program, in making sure students gain access to computers and enable them to adapt to the new normal of education.
The Program. The BLNPL program is a cash assistance program of UPAE that provides a loan of thirty thousand pesos (P30,000.00) to students of UP-CoE. The grantees receive the amount in cash, through the UP Engineering Research and Development Foundation, Inc (UP-ERDFI), to buy laptops or desktop computers so they will be able to meet online university requirements. The loan becomes due one (1) year after graduation and must be paid without interest for up to twelve (12) equal monthly installment payments.
Qualifications of Grantees. The Program is open to second year (or older) UP-CoE students in good standing belonging to STS brackets C, D, and E. A student may avail of this cash assistance only once.
How to Apply. Qualified students must request an Endorsement Letter from the Office of the Associate Dean for students Affairs (ADSA) of UP-CoE and submit to UPAE together with the following: (i) True copy of grades, and (ii) Photocopy of Form 5.
Responsibilities of Grantees. The availing students shall agree to be bounded by the following terms and conditions:
- Agree on the loan covenant upon receipt of the grant.
- Buy a computer with the following minimum specifications: i) Intel Core i5 or equivalent, ii) 4 GB DDR4 or 8GB DDR3 RAM, iii) 500 GB HDD or 128GB SSD.
- Send official receipt to UPAE as proof of purchase. (Excess amounts need not be returned but instead may be used to pay for internet/mobile data)
- Pay back UPAE, in lump-sum or twelve (12) equal monthly installment payments of P2,500/month, from one (1) year after graduation .
Responsibilities of the UPAE. UPAE shall oordinate with the ADSA of UP-CoE on the selection of students and will inform the ADSA of the results of screening and approval of grantees. UPAE shall also coordinate with the UP-ERDFI on the allocation and release of funds to be given to the grantees.
More updates to follow from UPAE (http://upae.org/)