Not an 'ayuda': Legarda says Senate bill giving monthly allowance to Filipino students an educational investment
At A Glance
- The Senate bill also promotes digital financial inclusion by allowing the student card to serve not only as an access point for the allowance but also as a basic savings or e-wallet account.
Senator Loren Legarda has filed on Monday, July 7 the proposed National Student Allowance Program (NSAP) bill which seeks to provide a monthly allowance of P1,000 to every Filipino student from kindergarten to college.
The bill, among the first 10 priority measures she filed for the 20th Congress, will complement the bill filed in the House by her son, Rep. Leandro Legarda Leviste, reinforcing their commitment to accessible and inclusive education for all Filipino students.
“This is not ayuda or short-term relief. This program is grounded in the belief that investing in every Filipino student is investing in the nation’s present and future,” Legarda said.
“This will be structured as an allowance that can only be used for school-related expenses, like food, transportation, and school supplies,” she said.
The allowance will be provided through student cards or digital vouchers which will also help eliminate corruption and ensure that the assistance will reach every student in the country.
The bill also promotes digital financial inclusion by allowing the student card to serve not only as an access point for the allowance but also as a basic savings or e-wallet account.
This will enable students to develop responsible budgeting habits and engage in secure financial transactions.
Under the bill, the Department of Finance (DOF) will lead the formulation of a sustainability framework and conduct an actuarial analysis every five years to assess cost trends and demographic shifts to ensure the long-term viability of the program.
The bill also mandates the Bangko Sentral ng Pilipinas (BSP) and partner institutions to ensure these systems are accessible, especially in geographically isolated and disadvantaged areas (GIDAs).
According to Legarda, more than 30 million students nationwide are expected to benefit in the proposed NSAP once enacted into law.