A YEAR after its pilot implementation, the Sapat-Dapat Comprehensive School Program is now on its final level of implementation, and has solicited positive responses from partner schools, its benefactors said.
Orlando Palompon, Bayad Center area head for Visayas and Mindanao, shared that they noticed some of the students have started saving in piggy banks.
“We were able to observe that some now have savings, and some even have earnings. What we did was heighten their financial literacy awareness for them to also share their knowledge to other students,” Palompon said in a press conference on Wednesday, March 6.
The CIS Bayad Center Inc., with the Department of Education and Marylindbert International, launched the Sapat Dapat Comprehensive School Program to make a keen effect in the Filipinos’ mindset, particularly high school students, by introducing them to financial education.
It is composed of three program components—knowledge, emotional and experiential levels.
Under the experiential level is the hands-on application of the program in which a Bayad Center Quiz Bee, open to all high school students in Cebu, was conducted from the elimination to the finals round on Wednesday, March 6.
The Philippines, according to a recent study by the Asian Development Bank, is ranked 68th in a worldwide financial literacy index.
Financial literacy is the understanding of varied financial areas such as managing personal finance, money and investing.
The program, launched in June 2018, will run for three years until 2021, and is envisioned to become part of the school curriculum of Grades 9 and 10.
“It’s not enough that we teach them how to earn, but how to maximize it as well. We wanted it implemented on these grade levels because it is direct since they have economic classes,” said Jonathan Pavig, vice president and head of operations of Marylindbert International.
The program is in 15 schools in Cebu. Among these are Abellana National High School, Don Vicente Rama National High School, Mandaue City Comprehensive National High School and Marigondon National High School.
Wendell Labre, Bayad Center marketing head, said the program is expected to be replicated in more schools in Cebu. They also plan to extend its advocacy to Davao City this year.
“Cebu is our pilot province, for we believe that it's where there is a good mix of urban and provincial mindset. We start it here, then to Davao, and then bring it to Manila, that's our strategy,” Labre added.