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Most Filipinos have high regard on
education. Some even say that education is the
only
inheritance that will be left to their children. That is
why Filipinos work very hard to invest in a school,
college or university that will greatly help their
children in the future. Naturally, parents only want to
give the best to their children. Because for them
education is an investment. Education improves the lives
of many.
There are many reputable schools in the Philippines. The
only hindrances towards bright futures are the schools’
fees. Only few families can afford to enroll their
children
at these schools, as their tuition fees are
more than the families’ income. Average private schools
have high tuition fees, how much more the tuition fees
of exclusive schools?
So if the family has limited
income, and day-to-day expenses are problems already,
it’s very hard to invest in education. |
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| It’s a good thing to know that there are
student loans that families can avail of. Student loans
are loans to cover finances on tuition fee payments,
maintaining allowance or cost of living allowance and
other expenses that are related with school finances.
These student loans can be availed by the parent of the
student, college student, high school students, college
graduate and graduate students. But most school offers
student loans to college students only. There are only
few that provide loans to high school, college and
graduate students. Sometimes, the local government
issues student loans. In the Philippines, the (CHED)
Commission on Higher Education is the primary provider
of student loans to students. Student loans from CHED
are specially created for poor but deserving students.
And at times, these student loans from CHED or any other
government institution also comes with free scholarship
grants as help and award for those students with honors.
There are also few private institutions and universities
that offer study-now-pay-later scheme as help to
students who really want to finish their students.
Student loans are different from scholarship grants,
because they need to be paid back. But among any other
loans, student loans have the lowest interest. Student
loans are designed to help students and improve the
lives of many Filipino families. Student loans are
really a big help to increase literacy in the country.
The government aims to increase the use of student loans
in the Philippines. There even has bill entitled
“National Student Loan Program for the Poor Act of
2004.” According to CHED, beneficiaries of student loans
will increase by the next school year, as more and more
institutions are willing to invest on its loan. Also
according to the commission, the funds on student loan
will increase to P4 billion this year. If this
continuous on, a loan amounting to maximum of 30,000.00
pesos will be available for students. Thus more students
will be able to enroll and hopefully will finish their
studies. As far as the students and the country’s
economy are concerned, student loans are of great help. |
