The Department of Budget and Management (DBM) announced on Tuesday that the Marcos administration has alloted ₱138.77 billion budget for Higher Education (HE) programs and initiatives under the 2023 General Appropriations Act (GAA).
In a <a href="https://www.dbm.gov.ph/index.php/secretary-s-corner/press-releases/list-of-press-releases/2736-pbbm-admin-allots-p138-77-billion-for-higher-education-programs-student-subsidies" target="_blank" rel="noopener">statement</a>, the DBM said out of the ₱138.77 billion budget, ₱31.73 billion will be given to the Commission on Higher Education (CHED) and ₱107.04 billion to State Universities and Colleges (SUCs).
Meanwhile, the ₱45.80 billion will go to the Universal Access to Quality Tertiary Education Program (UAQTE) and ₱1.52 billion to student financial assistance programs, which aim to offer 21,053 student recipients scholarships and grant-in-aid programs.
In addition, ₱500 million will be for the medical scholarship and return service program, which will help eligible medical students further their study and training in exchange for services provided at public health facilities or hospitals.
The remaining ₱167 million pesos will be used for payment of the tuition fees of medical students at the SUCs.
According to DBM Secretary Amenah Pangandaman, the budget allocation for HE programs shows how committed the administration of President Ferdinand 'Bongbong' Marcos Jr. is to empowering the Filipino youth.
"This is likewise in consonance with the promise of Vice President and Education Secretary Sara Duterte to help the sector produce graduates that are employable," she added.
Written By Dana Ebreo, DZRH News Online Intern
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DBM: Marcos admin allots ₱138.77-B for higher education programs