InvestEd.ph, a student loan platform for college students in the Philippines, expanded its Global Nurse Education Finance Initiative, which aims to support the education of 800 qualified nursing students in the country for the next five years through a P7 million education fund.
The initiative, a collaboration with Johnson & Johnson Philippines, Inc., introduced this July a loan forgiveness incentive for nurses who will graduate and work at medical facilities in the country. This is meant to address the Philippines’ shortage of healthcare workers.
InvestEd’s initiative, as part of the alliance dedicated to helping future frontliners, seeks to secure Filipino medical students’ education by removing socioeconomic barriers. Nursing students who need help paying for tuition, housing, gadget expenses, and board exam and additional accreditation fees can turn to InvestEd’s revolving education fund, provided for by J&J’s financial grant.
The loans follow a Study Now, Pay Later plan, allowing students to finish studying first and start repaying once they have found work. In addition, students under the initiative will get 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, InvestEd’s co-founder and chief executive officer, in a statement. “The Alliance for Future Frontliners aims to ensure that our future frontliners acquire the financial and psychological support needed to reach graduation day and succeed in the noble work that they do.”
“One of the great things about this project is the exploration to do analytics on risk, success, and retention for nursing students,” added Ms. Bayombong.
In July, a group of nurses slammed the administration of President Rodrigo R. Duterte for its failure to address the shortage of nurses and other healthcare workers. — B. H. Lacsamana