The Commission on Higher Education (CHED) had given out more than 59,000 student loans and scholarships under their P1 billion Student Assistance Fund for Education (SAFE) program.
CHED chairman Emmanuel Angeles said that the 59,000 beneficiaries of the loans and scholarships enrolled in 949 participating higher education institutions (HEIs) were able to get scholarships at P15,000 a year and SAFE student loans of P8,000 per semester.
Angeles said that the SAFE scholarships were issued to college students enrolled in priority courses in Agriculture, Maritime Studies, English, Math, Science, Engineering and Teacher Education.
The zero-interest SAFE loans were issued to 3rd, 4th and 5th year level college students to help financially challenged students finish their college studies.
With the success of the SAFE program, Angeles said that they were hoping to have the program repeated next year.
Angeles said that CHED has already launched their Enhanced Student Loan Program (E-SLP) wherein students enrolled in CHED-recognized degree programs will be able to loan the maximum loanable amount of P20,000 per semester with 6 percent simple interest per annum which will commence upon the release of the loan.
The E-SLP will reportedly adopt a better repayment scheme where the students can pay every semester or upon completion of the program. — Rainier Allan Ronda