Tuesday, October 07, 2008


We always think that Saving for college is priority for Filipino parents, right? Wrong. Almost 80% of parents I interviewed said that they spent more on transportation and foods than they set aside for college.
Parents are borrowing more than ever to put food in their table than savings for college. Over the past five years the cost of tuition fees rose by the average of 10% annually. It is very common to pay P45,000 per semester in UST, P60,000 per semester in ADMU and DLSU and P20,000 in UPDiliman. The high cost of college became a heavy burden for a Filipino family that hinders them in sending their children to the “best” school. The moneyed class has no problem because they can pay but they did not know that the current situation is an injustice that will haunt them also.
The high cost of tuition fees prolong the rule of the elites and fail to uplift the masses out of the debilitating poverty. It is only education that will equalize everything and it is not happening right now.
Whether the elite graduate from his elite schools and he is surrounded by people of abject poverty these elite will also be affected economically. The purchasing power of the people surrounding him is low that the chance of setting up and succeeding in business becomes highly unlikely. If they work in a corporation they can not get a high salary because his company has few customers to attract.
In short, lifting the poor out of poverty will benefit all of us economically. The poor who rose out of poverty will construct their own house, send their children in private school, spend their money in the mall, and employ people. It is a domino effect.
Here’s a thought: Skills are now much needed for the country to survive. A country that possesses skills and knowledge has comparative advantage to those who have none. This will make the country powerful and the people more productive. If we deny or will not provide the skills and knowledge to the masses we will always be at the bottom of the heap, economically.
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