BIZ BUZZ: Paved with good intentions
Inquirer.net The intention is laudable. But the method, maybe less so.
Were talking about the proposals lodged in Congress to prohibit the no permit, no exam policy, which many struggling private educational institutions fear will push them into bankruptcy.
At present, there are two proposals of this nature lodged in the legislature: Senate Bill No. 1359 and House Bill No. 7584. If enacted into law, schools will be prohibited from imposing a policy that will prevent students with unsettled financial obligations from taking examinations.
Representatives of the private education sector reached out to Biz Buzz pointing out that many schools are still reeling from the effects of the COVID-19 pandemic, especially since many reopened their doors only last year, a full two years after the public health crisis erupted.
Unsurprisingly, many are now operating at a loss.
A study by the Catholic Educational Association of the Philippines in April 2023 showed that about 49 percent of the 224 basic education schools surveyed are financially in the red or are only breaking even, in terms of monthly expenses compared to monthly collections. The rest reported that they only have meager profits, at best.
