CHED Student Loan Plans

Published by Jun | Filed under CHED, Education, Student Loans

Do you know that theres available loans for the students in the Philippines? If you need extra money to cash in for your tuition fees and other miscellaneous fees because you are just poor, theres a student loan plan from CHED. Starting next school year, funds for the student loan program of the government will be increased from P215 million to P4 billion to accommodate more beneficiaries, according to Commission on Higher Education (CHED) Chairman Carlito Puno.

There’s CHED ORDER No. 23 Series of 1999 with SUBJECT: AMENDMENTS TO CHED ORDER NO.14 SERIES OF 1999 ENTITLED, “GUIDELINES FOR THE IMPLEMENTATION OF THE STUDENT LOAN FUND FOR REGION V UNDER REPUBLIC ACT NO. 8745″. (click this to download – co_23_99f.doc)

The program is already implemented this second semester’s school year, but according to Puno its full implementation is scheduled for the school year 2008-2009. Theres already 38,000 beneficiaries of the student loan program of CHED and it will be increased to 200,000 as more funding agencies will pledge their support. At present, beneficiaries studying in State universities get P5,000 per semester and this amount will be raised to P15,000 per semester. The students enrolled in private universities can also avail the unsecured loans for P20,000 per semester if the CHED plans push through.

The Government Service Insurance System (GSIS), Social Security System (SSS) and the Land Bank of the Philippines have pledged P500 million, P1 billion, and P1 billion infunds, respectively, in support of the project. The SSS and the GSIS said they want to course the amount through private banks, while the Land Bank wants it coursed through active cooperatives all over the country.

In the past theres also a similar student loans program implemented by the Commission on Higher Education called “Study-Now-Pay-Later” Program, a scheme of providing loans or credit to poor but deserving and hardworking students who are enrolled in priority courses in selected higher educational institutions. I also wonder if a student can also avail nor have an access to homeowner loans. This CHED Student Loan Plans is good development for the youth in the Philippines who really want to finish education. But the national government should add more funds to CHED since  200,000 beneficiaries really falls under the number of youth in the Philippines. Hope the pledges of GSIS, SSS and LDP won’t go to wastes and end up to corrupt officials.

Lets call for more Budget in Education! and not for bullets and bombs.

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