SENATOR Manuel ‘Lito’ Lapid filed a measure establishing College Living Expenses Financing or CLEF program to support Filipino students of good academic standing.

Senate Bill 214 mandates the national government to set up a loan guarantee fund on student loans to be provided by the Development Bank of the Philippines and the Land Bank of the Philippines.

The bill recognizes the Universal Access to Quality Tertiary Education Act which provides free tuition and exemption on other fees for students of state colleges and universities.

Lapid said that while this law significantly contributes to making quality education accessible to all, there are other factors that hinder the attainment of a good education.

One such obstacle is the cost-of-living expenses which discourage qualified students in families below the poverty line to consider pursuing higher education.

“Libre man ang tuition para sa ating mga estudyante, batid kong marami pa ring nahihirapan tumuloy sa kolehiyo dahil wala silang mapagkukunan ng pangtustos para sa kanilang pamumuhay habang nag-aaral. Mas ramdam pa lalo ang problemang ito ng mga estudyanteng galing sa malalayong lugar at kailangan pang magbyahe at lumipat para makapag-aral. Kailangan na mabigyan sila ng pagkakataon na magkaroon ng pagkukunan ng pondo para sa kanilang tirahan, libro at iba pang gastusin habang nag-aaral sila,” Lapid said.

The CLEF Program will provide for the living expenses of college students.

The loan will cover board and lodging; living allowance; transportation; food; uniforms and personal clothing; books and supplies; internet and digital connectivity and other miscellaneous expenses.

The bill states that the CLEF program will be made available to all FIlipino students who are either enrolled at the time of the effectivity of the Act, or admitted to enroll at any time thereafter, in courses leading to a bachelor’s degree in any higher educational institution accredited by the Commission on Higher Education.

Each eligible student shal be entitled to a minimum loan amount of P50,000 per semester and a maximum of P400,000 allowing for up to five years of college enrollments.

The loan shall have a maximum term of 25 years and interest rate lower than the prevailing rate subject to the discretion of the disbursing financial institutions.

Amortizations shall also start one year from the date of graduation.