Saturday, October 25, 2008

To loan or not to loan?

With a highly commercialized educational system here in the Philippines, education is now just like a commodity. Education is a right guaranteed by our constitution. But in reality, it is just a privilege for the few who has the money to get it.

Although the Commission on Higher Education (CHED) has a loan program for college students called Study Now Pay Later, it really can't accommodate that many students. Worst, they are now having collection problem and the program may no longer be sustained. This is where the significance of Private Student Loans program comes in.

Student loans program may indeed help students who want to pursue a university education, but it doesn't really address the real problem. It would be best if the government allocates a bigger budget for education, it must not abandon its responsibility to educate its constituents.

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