CHED told to collect almost P85-M in loans from 'Study Now, Pay Later' program

Adrian Ayalin, ABS-CBN News

Posted at Jul 26 2017 05:04 PM

MANILA- The Commission on Higher Education was told by the Commission on Audit to collect nearly P85 million worth of loans from students who availed the "Study Now, Pay Later" program of the government. 

In its 2016 audit report, COA said CHED collected only P408,000 out of nearly P85 million of “due and demandable” loans from 4 of its regional offices due to weak loan repayment mechanisms and inadequate records.

CHED will heed COA's recommendation to seek the help of other government agencies like the National Bureau of Investigation (NBI) to locate the whereabouts of student borrowers and their guarantors. 

CHED added it will improve its loan collections by sending follow-up demand letters to the borrowers and their guarantors, as well as to enforce legal remedies. CHED was also told by the COA to refund excess payments to unqualified scholars.