Education bonds seen as a source of fund for free college education

admin   •   August 10, 2017   •   42615

MANILA, Philippines — One- Ang Edukasyon Partylist Representative Salvador Belaro believes there is a way to source funds for the free college education after the bill has been enacted.

He said, based on his partylist’s analysis, there is a 16 billion-peso budget that can be realigned from other budget items.

Should it be insufficient, the government may issue education bonds as the source of the funds needed.

“It’s like debt in financial markets. You issue a bond, it is an obligation of the government to pay the buyer of the bond at a certain interest, and pay the principal at a certain future time,” said Belaro. — UNTV News & Rescue

Malacañang suspends work in gov’t offices, SUCs on Dec. 26, 2017 and Jan. 02, 2018

UNTV News   •   December 15, 2017


Malacañang suspends work in government offices, Government-Owned and Controlled Corporations, government financial institutions and state universities and colleges or SUCs on December 26, 2017 (Tuesday) and January 2, 2018 (Tuesday).

This is for government employees to spend more time with their families and loved ones this holiday season.

Malacañang announced the suspension through memorandum circular number 37.

Meanwhile, government agencies involving delivery of basic and necessary services such as health services, disaster preparedness and response shall continue with their operations. — UNTV News

Pres. Duterte signs into law free tuition bill for SUCs

admin   •   August 4, 2017

MANILA, Philippines — Deputy Executive Secretary Menardo Guevara said President Rodrigo Duterte signed last night the Universal Access to Quality Tertiary Education Act following a meeting with his economic advisers.

“I am pleased to announce that last night, August 3, 2017, the president signed into law the enrolled bill,” Guevarra said.

Under the new law, the government will be able to provide free tuition to students of state universities and colleges (SUCs) and even those enrolled in vocational schools across the country.

Although the chief executive’s economic team opposed the said measure, Guevarra said the president believes signing it would have a huge impact on the country’s development.

“Free tertiary education in state universities and colleges is a pillar or cornerstone of the president’s social development policy. So he weighed everything and came to the conclusion that the long-term benefits that will be derived from a well-developed tertiary education will definitely outweigh any possible short-term budgetary challenges,” Guevarra said.

Senator Bam Aquino, the principal sponsor and co-author of the measure, thanked the president for approving the free SUC tuition bill.

Sen. Joseph Victor Ejercito said deserving students will finally have the chance to go to college for free.

For Senator Vicente Sotto III, this is an important day for the country’s educational system, while Senator Francis Escudero noted the new law can be considered as among the legacies of the Duterte administration.

President Duterte’s approval of the SUC bill will prompt Congress to make some changes in the 2018 proposed national budget to include funding for the new legislation. — Macky Libradilla | UNTV News & Rescue

PRRD likely to sign Free Tuition Bill in SUCs before SONA in July

UNTV News   •   June 1, 2017


About 2-million students of state colleges and universities will benefit from government subsidies once the universal access to quality tertiary education passes into law.

Sen. Bam Aquino, the author of Universal Access to Quality Tertiary Education Bill said, “No money will be collected from them for regular fees, so the tuition and other fees will be free.”

President Rodrigo Duterte might sign the bill before July this year.

Qualified for the free tuition are Filipino citizens who have passed the entrance exam and are undergraduates.

Indigent students may apply under the support fund to avail of transportation, food and boarding house allowance.

Lawmakers will leave up to the SUCs (state universities and colleges) to decide on the other mechanism for the basis of the free tuition.

Private school students may apply for a student loan or scholarship grants.

“You are entitled to a support fund so you can continue your studies even in private schools,” Sen. Win Gatchalian said.

The government has allocated about P8-billion for the free tuition this year.

Meanwhile, about P50 to P53 billion is the budget needed yearly for the implementation of the program.

After the Bicameral Conference Committee, the President is expected to sign it into law before his State of the Nation Address in July.  – Nel Maribojoc | UNTV News and Rescue



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