P500M set aside for CHED projects
THE Department of Budget and Management (DBM) on Monday released a total of P2.0 billion for President Benigno Aquino 3rd administration’s education initiatives under the Government Service Insurance System (GSIS) and the Commission of Higher Education (CHED).
“The P2.0-billion release is quite timely, considering that the second semester of the academic year has already begun for most schools. At around this period, students need to fulfill their tuition commitments for the rest of the school year, while state colleges and universities [SUCs] will need extra fund support to enhance their existing academic programs,” Budget Secretary Florencio Abad said.
Of the combined release, P1.5 billion will be given to GSIS for the GSIS-Social Security System ( SSS) Educational Assistance Fund Program (EAFP), which comprises the national government’s funding counterpart for GSIS.
DBM said that under the EAFP, 1.4 million GSIS members can receive funding assistance for fouryear degree programs and technical/vocational courses. The program is being overseen and implemented by GSIS and SSS, which also offers financial aid to 200,000 qualified SSS members through the program.
The secretary also added that, “President Aquino believes that equal opportunity for education must be enjoyed by all, particularly those who otherwise cannot afford to go to college. Under the EAFP, qualified GSIS account holders who were held back financially will now have the opportunity to pursue their studies and prime themselves up for future employment.”
Meanwhile, the DBM said that P500 million of the total fund will be directed to CHED to augment their existing allocation to SUCs (state universities and colleges) for their identified growth areas. Under this initiative, SUCs will enhance their curriculum to match industry needs, specifically for business process outsourcing, tourism development, agriculture and fisheries, emerging industries and innovation clusters.
“The Philippine economy is now one of the best-performing in Asia, and there’s much interest from the international community in our growth potential. To keep this momentum up, we’re getting our graduates ready for mediumto long-term market demands by shaping the existing college curriculum accordingly. Students will therefore get to hone key skills and make the most of job opportunities that will be ripe for the picking,” Abad added.