Republic of the Philippines 
HOUSE OF REPRESENTATIVES 
Quezon City 
EIGHTEENTH CONGRESS 
Third Regular Session 
HOUSE BILL NO. _______ 
Introduced by HON. JOY MYRA S. TAMBUNTING 
EXPLANATORY NOTE 
It is the duty of the State to recognize and operationalize the complementary roles of public and 
private educational institutions. With public education institutions under resourced and 
overburdened, maintaining the viability of private education helps promote and protect the right 
of all citizens to quality education at all levels. 
In this regard, this measure proposes to institutionalize a Study Now, Pay Later program for 
students in public and private educational institutions to ensure that their education is not 
unnecessarily suspended or terminated due to lack of financial resources. Under this bill, parents 
and students can directly access loans from the Development Bank of the Philippines (DBP), while 
schools can discount from the same financial institution the promissory notes of students and 
parents with pending loans.  
As the pandemic continues to limit the operations and mobility of our business and labor sectors, 
not to mention its impact on soaring prices of commodities, thousands of families are at risk of 
withdrawing their children from school if appropriate government support is not rolled out 
immediately.  
It is the hope of this measure to institutionalize the offering of an accessible and affordable loan 
program so that more Filipinos will be able to complete their education and gain access to 
economic opportunities despite financial difficulties.  
On behalf of the people of Parañaque City’s Second District, and for the common good of the 
Filipino people, the approval of the said measure is earnestly sought. 
REP. JOY MYRA S. TAMBUNTING 
2nd District, Parañaque City 
June 25, 2021
9:00 pm
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Republic of the Philippines 
HOUSE OF REPRESENTATIVES 
Quezon City 
EIGHTEENTH CONGRESS 
Third Regular Session 
HOUSE BILL NO. _______ 
Introduced by HON. JOY MYRA S. TAMBUNTING 
AN ACT 
ESTABLISHING THE STUDY NOW, PAY LATER PROGRAM, APPROPRIATING FUNDS 
THEREFOR AND FOR OTHER PURPOSES 
Be it enacted by the Senate and House of Representatives of the Philippines in Congress 
assembled:  
SECTION 1. Short Title. – This Act shall be known as the “Study Now, Pay Later Act.” 
SEC. 2. Declaration of Policy. – The State recognizes and reiterates the Constitutional policy 
to protect and promote the right of all citizens to quality education at all levels and the 
complementary roles of public and private educational institutions in the educational system. 
Pursuant to this policy, the State shall ensure that all citizens of the Philippines are given access 
to quality education, either through the public or private educational system. In addition, the 
State shall ensure that the education of all students is not unnecessarily suspended or terminated 
due to lack of financial resources, by creating an accessible and affordable loan program that will 
enable students to continue their education despite financial difficulties. 
SEC. 3. Establishment of Study Now, Pay Later Program. – There is hereby created a Study 
Now, Pay Later Program (SNPL) under the supervision of the Department of Education (DepEd) 
for K-12 students, the Commission on Higher Education (CHED) for tertiary education students, 
and the Technical Education and Skills Development Authority (TESDA) for technical vocational 
students. The Program shall be jointly implemented with the Development Bank of the Philippines 
(DBP) and the Land Bank of the Philippines 1(LBP) for the disbursement of the loan, and/or the 
discounting of promissory notes issued to educational institutions. 
SEC. 4. SNPL Components. – The SNPL shall have two components: 
a.
Student Loan, where students who lacks necessary funds can take out a loan from the
DBP or LBP for the payment of their tuition and other school fees, and reasonable living
expenses;
b. Discounting of Promissory Notes, where educational institutions that have promissory
notes issued by students with outstanding balances can discount these notes to the DBP
or LBP for cash.
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Provided, That nothing herein shall limit the DepEd, CHED, TESDA, LBP, and DBP from adopting 
other measures that will further the implementation of this Act. 
 
SEC. 5. Interest Rate Subsidy. – The SNPL shall provide loan interest rate subsidy to all 
students who avail of the loan under the SNPL. 
 
SEC. 6. Repayment Terms. – The student loans extended under the SNPL shall be payable 
within a reasonable period, but it no case be less than one (1) year from the time of the loan; 
Provided, that in case of student loans granted to tertiary education and vocational and technical 
education, the loan shall, as far as practicable, be payable only once the student has procured an 
employment with an appropriate salary, as may be determined by the CHED or TES DA, in 
consultation with the Unified Student Financial Assistance System for Tertiary Education (UniFast) 
Board. 
 
SEC. 7. Funding. – An amount of One Billion Pesos (Php 1,000,000,000.00) shall be appropriated 
for the initial implementation of this Act. Thereafter, an amount not less than One Hundred Million 
Pesos (Php 100,000,000.00) shall be annually appropriated in the appropriations act. 
 
SEC. 8. Implementing Rules and Guidelines. – Within sixty (60) days from the effectivity of 
this Act, the DepEd, CHED, TESDA, LBP, and DBP, in consultation with appropriate government 
agencies and other relevant stakeholders, shall formulate the rules and regulations to effectively 
implement the provisions of this Act. 
 
SEC. 9. Separability Clause. – Any portion or provisions of this Act that may be declared 
unconstitutional or invalid shall not have the effect of nullifying other portions and provisions 
hereof as long as such remaining portions or provisions can still subsist and be given effect in 
their entirety. 
 
SEC.10. Repealing Clause. – All laws, decrees, executive orders, proclamations and 
administrative regulations, or any parts thereof inconsistent with the provisions of this Act are 
hereby revoked, repealed or modified accordingly. 
 
SEC. 11. Effectivity Clause. – This Act shall take effect fifteen (15) days after its publication in 
at least two (2) national papers of general circulation or in the Official Gazette. 
 
Approved,