Lapid seeks moratorium on student loans during disasters, pandemic

By JOHN CARLO M. CAHINHINAN

MANILA – Senator Lito Lapid is seeking a moratorium on student loans and other debts during emergencies like the coronavirus pandemic currently by the country.

Lapid said student loan liabilities must be temporarily eased off from the minds of disaster-stricken families as they focus more on the more basic and essential daily expenses.

“Habang ang mga gastusin sa edukasyon gaya ng tuition o iba pang bayarin sa paaralan ay isa-santabi na muna ng ilang pamilya dahil wala na silang natitirang salapi para dito. Kaya sa pamamagitan ng paglalagay ng moratorium sa students loans ay makakatulong tayo para maisalba kahit papaano ang edukasyon ng ating mga kabataan,” said Lapid.

Lapid recently filed Senate Bill No. 1538 that seeks to provide adequate relief and protection to those students and families suffering from the ravages of calamities and other emergency situations.

Lapid stressed the collection of student loans for must be deferred a reasonable period during the existence of hardship and difficulty such as disasters and calamities.

“Sa panahon ng kalamidad, disaster o emergency gaya na lamang ng nararanasan nating COVID 10 pandemic, milyun-milyong Pilipino ang walang kita. Karaniwang ang prayoridad ng ating mga kababayan sa ganitong mga panahon ay pambili ng pagkain, gamot at pang-araw-araw na pangangailangan,” said Lapid.

Lapid’s SB 1538 proposes to put moratorium on the enforcement of payment of all fees, charges and costs relating to the student loan programs for Higher Education and Technical-Vocational Education and Training (TVET).

The proposed legislation will cover loans administered by the Higher Education Institutions (HEIs) or by the Unified Student Financial Assistance System for Tertiary Education (UniFAST) Board, the Commission on Higher Education (CHED) or any other government agency and instrumentality.

The moratorium under SB 1538 covers the period the declaration of a national and local State of Calamity or Emergency up to 30 days from the termination of thereof.

Meanwhile, if the covered period exceeds a total of 60 days , the payment of the fees, charges and coasts shall be further deferred until the end of the next academic semester or term.

If passed into law, the moratorium on student loans will be implemented during disasters and other kinds of emergencies which are national in scope, as declared through a State of Calamity or State of National Emergency by the President of the Philippines, and provincial, city or municipal in scope, as declared through a State of Calamity or Emergency by the appropriate local government unit.

Source: Latest Politics News Today (Politics.com.ph)