nei OF REPRESENTATIVES:
RECEIVED
12 JUL 2018

Republic of the Philippines
HOUSE OF REPRESENTATIVE:
Constitution Hills, Quezon City

SEVENTEENTH CONGRESS
First Regular Session

REGISTRATION UNIT

HOUSE BILL No. 1423 | BWLs ano invex service

Introduced by Representative Salvador B. Belaro Jr.

EXPLANATORY NOTE

This bill seeks to provide loans to all Filipinos who wish to pursue or
finish their college education, and is being filed in the memory of Kristel Tejada
who took her life when unable to pay her tuition at UP Manila.

Notably, Kristel is just one of the millions of similarly-situated Filipino
youth, who are unable to pursue college education for lack of financial
resources, Related to this, we have heard of countless stories of students and/or
their parents resorting to selling properties and farm implements or doing other
untold desperate measures just to raise amounts needed for school fees.

Since the government does not provide free tertiary education, it is
important that those who wish to pursue college education must be provided
access to banks and loan institutions to enable them to borrow money to finance
their education. This can only be made possible if the loan requirements will be
made easier and the loan facilities shall be made readily accessible to those who
are in need to finance their college education.Aside from this, the schools have
to be mandated to adopt and implement a College Loan Program.

The passage of this bill will make education the greatest equalizer, and
will result to a highly educated human resource base which we need as a nation

to pump-prime our economic development.
ba

ATTY. SALVADOR B. BELARO, JR.
Representative
1-Ang Edukasyon Party List


Republic of the Philippines
HOUSE OF REPRESENTATIVES
Constitution Hills, Quezon City

SEVENTEENTH CONGRESS
First Regular Session

5
nouse iti No._14°4

Introduced by Representative Salvador B, Belaro, Ir.

AN ACT
INSTITUTIONALIZING A COLLEGE LOAN PROGRAM

Be it enacted by the Senate and the House of Representatives of the Philippines
in Congress assembled:

SECTION 1. Short Title. This Act shall be known as the “
2016..”

“ollege Loan Act of

SEC. 2. Declaration of Policy. The State shall establish means to provide
democratic access to tertiary education.

SEC. 3. All suitable banks in the country are mandated to accept educational
loans from all qualified Filipino citizens who wish to pursue or complete a first
college degree education. Such loans shall be granted without collateral, other
than the guarantee to be given by the State.

SEC. 4. The State shall guarantee the payment of all educational loans covered
by this Act, and will institute a reasonable repayment scheme by the grantees of
said loans.

SEC. 5. Alll schools in the country are mandated to accept enrollees who are
qualified under this Act, without prejudice to the admission requirements of
every school


SEC. 6. The Commission on Higher Education (CHED), in consultation with
the Department of Budget and Management (DBM) and the Central Bank of the
Philippines, shall be tasked to formulate and shall issue the rules and
regulations as may be necessary to carry out the provisions of this Act.

SEC. 7. The funds necessary to carry out the provision of this Act shall be
included in the General Appropriation Act of the year following its enactment
into law and thereafter.

SEC. 8. All laws, orders, issuances rules and regulations or parts thereof
inconsistent with any provisions of this Act are hereby repealed, modified or
amended accordingly.

SEC. 9. This Act shall take effect upon its approval.

Approved.