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‘Study Now, Pay Later’ program failed
Topic Started: Mar 31 2006, 02:27 PM (1,538 Views)
saver111
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‘Study Now, Pay Later’ program failed, says Salceda

By EDMER F. PANESA

The government’s "Study Now, Pay Later" program that gives poor but deserving students the chance to finish college education was a flop, Albay Rep. Joey Sarte Salceda said.

Salceda said the program collapsed because 99 percent of those who availed themselves of it have failed to pay back their loans.

The Bicolano legislator, however, said it is not yet too late for the government to revitalize the program, which was the brainchild of the late opposition Sen. Benigno "Ninoy" Aquino Jr.

Salceda has filed House Bill (HB) No. 5315 that aims to obtain 100 percent repayment of loans from the Study Now, Pay Later Plan (SNPLP) and augment funds for the college education program of government.

If passed into law, it would require government to go after those who availed themselves of the plan but failed to settle their dues despite having finished school and secured jobs.

The proposed measure calls on government to track down the SNPLP beneficiaries and require them pay their loans.

Salceda, chairman of the House Committee on Appropriations, said that in doing so, government would be able to "widen the access of deserving Filipino students to college education on one hand, and to brighten the prospect of getting back the funds invested to higher education on the other hand."

He said he filed the bill not only to increase government financial assistance but also to reach more deserving beneficiaries.

"In a subtle way, the bill aims to develop and strengthen the value of accountability and responsibility on the part of the Filipinos to pay their loans," Salceda said.

The Commission on Higher Education (CHED), in accordance with the provisions of Republic Act (RA) 7722 or the Higher Education Act of 1994, allocates R374 million annually to benefit some 33,000 scholars and guarantees under various programs.

Of the total amount, R363.1 million or 97 percent goes to scholarship and grant programs. The remaining R11.7 million or three percent goes to student loans, particularly the SNPLP.

"The reason why CHED allocates fewer funds to the student loan program is its failure to collect repayment from loan borrowers," Salceda said.

Salceda revealed that from 1995 to date, CHED only gets one percent repayment from the loans borrowed by students.

On its own, Salceda said CHED finds it extremely difficult to collect repayment from loan borrowers due to lack of information about the whereabouts of the loan borrowers after graduation, unemployment, or low income of loan borrowers, inadequate date bank on SNPLP, and fast turnover of staff in charge of the program.

http://www.mb.com.ph/MTNN2006033160211.html

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the program collapsed because 99 percent of those who availed themselves of it have failed to pay back their loans.


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"In a subtle way, the bill aims to develop and strengthen the value of accountability and responsibility on the part of the Filipinos to pay their loans,"


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CHED finds it extremely difficult to collect repayment from loan borrowers due to lack of information about the whereabouts of the loan borrowers after graduation, unemployment, or low income of loan borrowers, inadequate date bank on SNPLP, and fast turnover of staff in charge of the program.


Accountability and Responsibility, that's the key And then militant students will make noises about education...

Same thing happened with the agrarian land reform. Farmers getting lots, make loans from the Landbank. With money, they spent it, forgetting about it. When the lands becomes unproductive there's no option but to sell the land as subdivisions. Now no land to plant for food production. Result, failure of the Land Reform Program, Loans from LDP not paid. No more agricultural lands for food production.

And then militant farmers group will make noises about it...

:bs:
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epigone
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We should imitate the policy of Costa Rica. One out of four students are given scholarships not on the basis of talent or high grades but on the basis of their financial conditions. Then when they graduate they work for the government for either 6 months of volunteer work or 1 year or 3 years depending on some criterias. It works!
"Provocation is a valid defense against homicide"- Canadian Law on MSantor who 'cough, cough..', passes by my company room with a cup of coffee, waits for me in the bus shelter together with his friends and provoke me, and has been stalking me in forums like army.ca, navy.ca, timawa.net, militaryforums.com... He indeed is 'SEEKING DEATH' - Holy Bible.
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markniraq
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Its like Running a Gas Tank till youre on empty...Once its empty... its empty. Did you really think the people would even think about repaying a loan here in the Philippines? maybe somewhere else but definitely not here.
"You Have Never Lived...Till You Have almost Died...For Those Who Fight For It.. Life has a Special Meaning the Protected will Never Know"
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epigone
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markniraq
Mar 27 2008, 03:10 PM
Its like Running a Gas Tank till youre on empty...Once its empty... its empty. Did you really think the people would even think about repaying a loan here in the Philippines? maybe somewhere else but definitely not here.

Evidence has shown it works.
"Provocation is a valid defense against homicide"- Canadian Law on MSantor who 'cough, cough..', passes by my company room with a cup of coffee, waits for me in the bus shelter together with his friends and provoke me, and has been stalking me in forums like army.ca, navy.ca, timawa.net, militaryforums.com... He indeed is 'SEEKING DEATH' - Holy Bible.
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pj_aranda
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Me thinks that the people's mentality is that once it came from the government - it's freebie111
you will never make me sing "internationale"
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markniraq
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I agree, its the same with them borrowing tools
"You Have Never Lived...Till You Have almost Died...For Those Who Fight For It.. Life has a Special Meaning the Protected will Never Know"
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epigone
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markniraq
Mar 28 2008, 03:02 PM
I agree, its the same with them borrowing tools

The students cannot put one over the government inasmuch at the start of their schooling they are obligated to work as volunteers for the government. Para siguradong hindi magugulangan ang gobyerno kahit anong odd jobs like construction workers kailangan nilang gawin. (To assure that the government is not going to be duped they have to accept any kind of odd job like construction worker, janitor, or postal clerk or whatever suits them). Three days a week siguradong abonado pa ang estudyante. (Make them work three days a week, 5 hours a day, four years, I am sure the government will get their money back plus some interest.)

Starbucks Canada offers free tuition to their employees minus one hour pay per day. Sulit lang. I wish Starbucks Philippines, any coffee shop, supermarket or any call centre offer these kind of benefits.
"Provocation is a valid defense against homicide"- Canadian Law on MSantor who 'cough, cough..', passes by my company room with a cup of coffee, waits for me in the bus shelter together with his friends and provoke me, and has been stalking me in forums like army.ca, navy.ca, timawa.net, militaryforums.com... He indeed is 'SEEKING DEATH' - Holy Bible.
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