MANILA 1st District Rep. Ernesto Dionisio Jr. filed a bill that will establish the College Living Expenses Financing Program.

House Bill 5422 or the proposed College Living Expenses Financing Act mandates the government to set up a loan guarantee fund on student loans to be provided by the Development Bank of the Philippines and Land Bank of the Philippines.

“The realities in the ground are still far from ideal: access to tertiary education remains to be unreachable to some sectors given their financial position,” he said.

The lawmaker added that despite the introduction of scholarships and grants, there are still day-to-day expenses.

He said the loan program will help nurture the future leaders and workers in the country.