THE SENATE Committee on Higher, Technical and Vocational Education approved a measure that provides moratorium on student loan payment during disasters and emergencies.

The panel, headed by Senator Francis “Chiz” Escudero, agreed to endorse for plenary debates Senate Bill 975 or the proposed Student Loan Payment Moratorium During Disasters and Emergencies Act filed by Sen. Lito Lapid.

During the hearing, Coordinating Council of Private Educational Associations Executive Director Joseph Noel Estrada said the measure is aligned with Republic Act 11469 or the Bayanihan to Heal As One Act.

Estrada also inquired if the measure covers promissory notes.

“If this cover promissory notes, for private Higher Education Institutions, this will paralyze their operations, especially in times of crises,” he said.

Escudero assured him that the bill will not cover the promissory notes since it is only for student loan programs.

The senator decided to delete section 7 of the measure that makes it retroactive.