SENATOR Francis ‘Chiz’ Escudero clarified the imposition of student loan moratorium is not a clemency but rather a freeze on loan payment.

Escudero stressed the point as the Senate approved on second reading Senate Bill 1864 or the measure allowing a reprieve on the payment of what tertiary students financially owe their schools when these are within the jurisdiction of a national or a local declaration of a state of calamity.

The senator stressed that Section 5 of the bill clearly stated students are still required to pay their loans.

The measure covers loans incurred by qualified students enrolled in higher or technical-vocational education program.

Based on the measure, loan moratorium will be applied for students residing in an area under a declared State of Calamity or State of Emergency.

The moratorium shall be effective for the duration of the state of calamity or emergency, and for 30 days after the lifting of such state of calamity or emergency. Availing of the payment moratorium shall not adversely affect the status of the students concerned with regard to their eligibility for re-enrollment or graduation.

There will be no penalty or interest shall be collected on the deferred payments and the imposition of student loan payment moratorium shall not prevent public or private higher education institutions or technical-vocational institutions concerned from implementing favorable forms of payment relief or assistance to their respective students.