CAGAYAN de Oro Representative Rufus Rodriguez and Abante Mindanao Representative Maximo Rodriguez filed a measure creating a comprehensive national loan program for college education and appropriating funds for the purpose.

Also known as the “Comprehensive National Loan Program for College Education Act of 2010,” House Bill 43 (HB 43) aimed to provide financial assistance to poor but deserving students in the country.

Updates on President Benigno Aquino III's presidency

Rodriguez said as the government is trying to address the problems surrounding the education system in the country, the bill would speak of the government’s commitment to promote social and economic development for every Filipino.

Under HB 43, a special fund should be created to be administered by the Educational Loan Fund Authority under the Commission on Higher Education (Ched).

The funds shall be used to finance educational loans to cover matriculation, school fees and other expenses needed for a quality education.

However, the grant is limited only to Filipino citizens who graduated from duly recognized high school and passed the college or university entrance examination.

The applicants must not also be enjoying any scholarship or study grants to qualify for the program.

“It is a common knowledge that countless capable and deserving students are inhibited from pursuing higher studies due to financial conditions. This should not be the case,” Rodriguez said as he expressed optimism that the bill will draw support from his colleagues in the House of Representatives and in the Senate. ( Annabelle L. Ricalde)