SEPT.

17, 2013

NR # 3229

Solons move to strengthen the study now, pay later program of the government
Lawmakers today filed a measure to strengthen the study now, pay later program of the government for Filipino students. A Teacher Party-list Reps. Mariano Piamonte, Jr. and Julieta Cortuna, authors of House Bill 2364, said the study-now-pay-later program is a significant form of support for college education of the youth. It is without a doubt that college education is one of the treasures that an individual can have for life. The support of the State for college education of the youth will highly benefit the state and its general populace, Cortuna said. The bill mandates the Commission on Higher Education (CHED) to formulate and implement a study-now pay-later program for qualified college students in state colleges and universities. CHED shall also formulate the implementing rules and regulations (IRR) for the study-now-paylater program including the monitoring and collection system to secure payments from beneficiaries of the program at a later date. Likewise, the state universities and colleges shall also issue their own rules and regulation necessary for the implementation of the proposed act. This year, a total of 6,264 graduating high school students from poor families qualified for the CHEDs Student Financial Assistance Program (StuFAP) this school year. CHED has allocated more than P695.7 million for the StuFAP for school year 2013-2014 and 6,264 slots will be added to the current 45,742. CHED also has a Study Now Pay Later program and has allocated P5 million worth of scholarship grants to selected beneficiaries of the Pantawid Pamilyang Pilipino Program or conditional cash transfer. Malacaang has also allocated P20 million for scholarships for poor Muslim college students in the coming school year. Education loan fund or the Study Now, Pay Later Plan is one of the salient features under Section 11 of the Republic Act 6728 or an Act Providing Government Assistance To Students and Teachers in Private Education. The education loan fund will be used to finance educational loans to cover matriculation and other school fees as well as educational expenses for books, subsistence, and board and lodging. The law provides that the amounts covering payments for tuition, matriculation and other school fees shall be paid directly to the school concerned. Under the law, the student-debtor shall pay the loan after he has finished the course or profession for which the proceeds of the loan was expended, but only after a period of two years from the time he has acquired employment. (30) jc