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SIXTEENTH CONGRESS OF THE 
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REPUBLIC OF THE PHILIPPINES 
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First Regular Session 
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SENATE 
S.B. No. 201 
Introduced by Senator JUAN EDGARDO "SONNY" M. ANGARA 
EXPLANATORY NOTE 
Article 2 Section 17 ofthe Constitution states: 
"Section 17. The State shall give priority to education, science and 
technology, arts and sports to foster patriotism, nationalism, accelerate social 
progress and promote total human liberation and development." 
With the prevalent economic volatility worldwide, our country's 
unemployment and underemployment rate remain high, leaving many of our fellow 
Filipinos here and abroad without jobs. Many companies, in their effort to cut 
costs, also reduce their recruitment activities, thereby, lessening opportunities for 
our jobseekers. More and more, our low level of entrepreneurial and financial skills 
is being exposed, as we fall prey to high unemploymentrate due to our dependence 
to foreign employers and investors. 
. 
We need to train our youth on entrepreneurial and financial skills so that we 
can raise generations of businessmen and investors who will. create jobs not only 
for themselves but to others as well. Our students should know that 
entrepreneurship is a great alternative to employment and should be. equipped with 
all information, from opportunities to existing regulations, on enteril1g the business 
world. 
This bill seeks to mandate the Department of Education to make 
entrepreneurial and financial literacy education an integral part of our secondary 
education. 
In view of the foregoing, early and immediate passage of this bill is 
earnestly sought. 
JUANEDG 
0" ONNY" M. ANGARA 
I 


SIXTEENTH CONGRESS OF THE 
REPUBLIC OF THE PHILIPPINES 
First Regular Session 
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SENATE 
Senate Bill No" 
201 
Introduced by SENATOR JUAN EDGARDO "SONNY" M. ANGARA 
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AN ACT 
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TO DEVELOP FINANCIAL LITERACY EDUCATION 
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Be it enacted by the Senate and House of Representatives of the Philippines in 
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Congress assembled: 
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SECTION 1. Short Title. - This Act shall be known as the "Financial Literacy 
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Act of 2013." 
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SEC.2. Definition. - For the purpose of this Act, the term: 
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A. "Eligible entity" means-
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1. an institution of higher education; or 
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2. a partnership consisting of-
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a. an institution of higher education; and 
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b. a non-profit organization with experience and a proven track record in 
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quality financial literacy or personal finance education programs. 
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B. "Department" means the Department of Education 
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C. "Secretary" means the Secretary of Education 
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SECTION 3. Grant. - The Secretary shall award grants, on a competitive basis, 
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to eligible entities to enable such entities to provide financial literacy courses or course' 
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components to students. 
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SEC 4. Application. - An eligible entity that desires to receive a grant under this 
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section shall submit an application to the Secretary at such time, in such manner, and 
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accompanied by itemized budget and such other information as the Secretary may 
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require. 
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SEC.5. Maximum Amount. 
The amount of the grant shall not exceed one 
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million pesos per grantee. 
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SEC. 6. Use of Funds. An eligible entity that receives a grant under this section 
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shall use the grant funds to develop and implement financial literacy education, 
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activities, student organizations, or counseling that increase student knowledge in 
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consumer, economic, and personal financial concepts. 
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SEC. 7. Evaluation. The Department shall provide, for rules on periodic 
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evaluation of the performance of the grantees under this Act. The Department may 
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provide for rules that shall allow them to revoke grants at different stages of the 
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implementation of each project based on the result of the evaluation. 
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SEC. 8. Term. The term of this project shall be ten years, 
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SEC. 9. Report. At the end of the second year after the implementation of this 
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Act and every year thereafter, the Department shall provide the appropriate committees 
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in the Senate and the House of Representatives a status report on the grantees. 
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SEC. 10. Appropriations. The amount necessary for the initial implementation 
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of this Act shall be charged against the appropriations of the Department of Education 
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under the current General Appropriations Act. Thereafter, such sum as may be 
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necessary for its full implementation shall be included in the annual General 
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Appropriations Act as a distinct and separate item. 
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SEC. 11. Separability Clause. If any provision or part hereof, is held invalid or 
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unconstitutional, the remainder of the law or the provision not otherwise affected shall 
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remain valid and subsisting. 
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SEC. 12. Repealing Clause. 
Any law, presidential decree or issuance, 
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. executive order, leiter of instruction, administrative order, rule or regulation contrary to or 
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is inconsistent with the provision of this Act is hereby repealed, modified, or amended 
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accordingly. 
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SEC. 13. Effectivity Clause. This Act shall take effect fifteen (15) days after its 
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publication in at least two (2) newspapers of general circulation. 
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Approved, 
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