Due to the tremendous demand for financial aid from students at the higher education level, particularly those studying in private colleges and universities, the Office of the President released funds for the student loan. CHED delegated to participating private colleges and universities the management of the student loan program called as The PGMA Higher Education Loan Program. By virtue of the Commission en banc Resolution No. 330-2006 dated May 8, 2006, the program provides assistance to the financially needy 3rd , 4th, and graduating college students and to qualified students.
The DBP Higher Education Loan Program for Students, or DBP HELPS, is a wholesale loan facility using qualified educational institutions as conduits for student loans. The educational institutions with transparency and good governance practices and tie ups with employers or manning companies are eligible to borrow under the DBP HELPS program. Under the program, educational institutions and their accredited partner companies or employers shall conduct the prequalification and selection of student borrowers.
The Social Security System created the Educational Assistance Loan Program for workers and beneficiaries to borrow or lend money for enrollment, technical, and vocational courses. SSS has just liberalized its rules on educational plans to make it more accessible to the members. The agency also raised the eligibility cap for members who want to avail of the program.