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Thursday, December 09, 2004
College Assurance Plan to reimburse planholders
By Erwin Ambo S. Delilan
THE cash-strapped College Assurance Plan Incorporated (CAP) in Bacolod City will refund their educational plan holders of only half the amount they contributed.
But a CAP-Bacolod representative said this arrangement is still subject to the approval of Cap-Main Office in Metro Manila.
Couple Fernando and Edna Perez of Purok Pine Tree, Barangay Bata, Bacolod said a local CAP representative told them if they apply for refund, their application will be forwarded to the main office and will be reviewed in 60 days.
The couple completed the five-year payment for the education plan of their eldest daughter Ines, 9, and are about to complete another five years payment for their youngest son Fernando Jose, 4.
Upon learning about the financial status of CAP, the couple went to CAP-Bacolod Office in Galo Street to inquire on the status of their educational plans.
They were told, however, that they can avail themselves only the 50 percent refund.
The Perezes are contemplating to bring the matter to court.
In another development, CAP-Bacolod has not yet settled their bounced checks in almost all private colleges and universities in payment for the tuition of their thousands of scholars.
Until CAP-Bacolod can settle the mess, their scholars may not be allowed to take the prelim exams for the second semester.
(December 9, 2004 issue)
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