IN SUPPORT of the government’s thrust to enhance and expand basic education in the country, LandBank is offering a bridge financing facility to support schools participating under the Department of Education’s Senior High School Voucher Program.
The government, thru DepEd, instituted the K to 12 program to upgrade the Philippines’ basic education and align with global standards.
To facilitate its implementation, DepEd launched the SHS-VP to provide financial assistance to qualified students through a voucher subsidy that allows them to avail themselves of deductions from the cost of tuition and other fees, it said in a press statement.
Voucher amounts may range from P14,000 to P22,500 per year, based on the location of the school.
The voucher subsidy is not given directly to students but is instead paid through participating non-DepEd SHS providers who apply for the subsidy on behalf of the program beneficiaries/students, the press statement added.
Landbank’s short-term loan program will help bridge the time gap from application to release of the subsidy, by providing financial assistance to credit-eligible schools.