THE SENATE Committee on Higher, Technical and Vocational Education approved a measure that allows a moratorium on the payment of student loans during disasters and other emergencies.

Senate Bill 1864 or the proposed Student Loan Payment Moratorium During Disasters and Emergencies Act covers all students enrolled in State and Local Universities and Colleges, private Higher Educational Institutions and public and private Technological and Vocational Institute in areas under state of calamity.

It will be effective for the duration of the state of calamity or emergency and for 30 days after the lifting of the status.

No penalty or interest shall be collected on the deferred payments.

Also, the imposition of student loan payment moratorium shall not prevent public or private HEIs or TVIs concerned from implementing more favorable forms of payment relief or assistance to their respective students.

The imposition of the moratorium will not prohibit students from voluntarily waiving the benefit of the moratorium on student loan payments and it will also not prohibit HEI, TVI or students from availing themselves of other assistance or subsidies from the government.