Taguig City provides ATM Savings Account to students; initiates financial literacy program

They may well be the next millionaires.

 

Over 2,000 students from the Taguig Science High School (TSHS) and Senator Renato “Compañero” Cayetano Memorial Science and Technology High School (SRCCMSTHS) started receiving their ATM cards for their very own savings accounts last March 21, Wednesday.

 

The move to provide the teenagers with the monetary instruments was in line with the city’s Financial Literacy Program that aims to teach them how to manage their finances at an early age.

 

The program includes a two-day Taguig City Financial Literacy Seminar which was led by Landbank of the Philippines’ Vice President/Relationship Officer Ms. Rossana S. Coronel at the Taguig City University (TCU) Auditorium on March 15 and 16. Among the topics discussed were the importance of saving and the dos and don’ts when saving.

 

Under the program, the monthly P1,000 allowance provided by the city government to each TSHS and SRCCMSTHS student will be deposited directly to their savings accounts.

 

The P1,000 allowance per student every month is an increase from the P500 that was previously granted to them. The money can be spent for books, school projects and other school-related items.

 

“We want them to discipline themselves when they receive their allowances. Through their savings account, the children will have the choice to withdraw or deposit their money so that they can use them for more important transactions,” Policy and Scholarship Head Mr. Rene Lopos said.

 

“We wanted to create a culture where students have the proper skills that enable them to make effective and efficient decisions in handling all their financial resources,” he added.

 

Moreover, students did not have to worry if they can still use their savings account even after graduating from high school since they can continue using the ATM account if they become recipients of the various scholarship programs of the city.

 

Taguig City offers nine (9) scholarship programs — Taguig Learners’ Certificate (TLC) scholarship program and the Lifeline Assistance for Neighbors In-need (LANI) scholarship which has eight types — Premier, Full, Priority, Basic, SUC/LCU, Basic Plus, Leadership and Educators Advancement and Development (LEAD) or Review. All scholarship programs were presented and explained to the students during the financial literacy seminar.

 

“Through the presentation, we are hopeful that we can encourage students to continue to excel and aim for high honors. Rest assured that the city government of Taguig would be there every step of the way to help them achieve their dreams,” Lopos explained.

 

The financial literacy program is only one of many Taguig programs aimed at targeting its students, proving that the city government, under Mayor Lani Cayetano’s administration, has been actively investing in the education of its constituents. The local government also provides a complete set of uniform and school supplies to its students yearly, as well as “grab bags” or emergency kits to elementary students.

 

Because of its big investment in education, Taguig City claimed the top spot in the National Achievement Test (NAT) for elementary and high school students for two consecutive years, in 2014 and 2015.

 

In college, a P625-million scholarship fund supports students enrolled in the University of the Philippines, Ateneo de Manila University and De La Salle University, among others. The city has also extended this scholarship program to graduate, law and medicine students.

 

 

FILIPINO VERSION

 

ATM Savings Account ibinahagi sa mga Taguig students; ‘financial literacy program’ sinimulan

 

Sila na marahil ang mga susunod na milyunaryo.

 

Ito ay matapos umabot sa higit 2,000 estudyante mula sa Taguig Science High School (TSHS) at Senator Renato “Compañero” Cayetano Memorial Science and Technology High School (SRCCMSTHS) ang nakatanggap ng kanilang ATM cards para sa kanilang sariling savings account noong March 21, Miyerkules.

 

Upang turuan ang mga kabataan ng maayos at responsableng paghawak ng pera, inilunsad ng pamahalaang lungsod ng Taguig ang Financial Literacy Program sa mga estudyante upang sa mas maagang panahon ay matuto sila sa financial management.

 

Kasama sa programa ang dalawang araw na Taguig City Financial Literacy Seminar na pinangunahan ni Landbank of the Philippines’ Vice President/Relationship Officer Ms. Rossana S. Coronel na isinagawa sa Taguig City University (TCU) Auditorium noong March 15 at 16. Kasama sa mga tinalakay ang mga dapat at hindi dapat sa paghawak ng pera at pag-iimpok.

 

Sa ilalim ng programa, mayroong buwanang P1,000 allowance na ibinibigay ang city government sa bawat estudyante ng TSHS at SRCCMSTHS. Ang allowance na ito ay direktang idini-deposit sa kanilang savings accounts.

 

Ang buwanang P1,000 allowance kada estudyante ay mas mataas na kumpara noong ito ay sinimulan sa P500 kada buwan. Ang pera na ito ay pwedeng pambili ng libro, kagamitan sa school projects at iba pang kagamitan na may kinalaman sa kanilang eskwela.

 

“Nais namin na madisiplina sila nang mas maaga sa mga allowance na kanilang nakukuha. Sa kanilang savings account, ang mga kabataan ay mayroong kalayaang magdesisyon na i-withdraw o ideposito ito para sa kanilang pag-iipon,” wika ni Policy and Scholarship Head Mr. Rene Lopos.

 

“Gusto rin ng pamahalaan na magkaroon ng kultura kung saan ang mga kabataan ay lumaki na responsable sa paghawak ng pera at matutong magdesisyon sa pag-iipon at paggastos nito,” dagdag pa ni Lopos.

 

Hindi rin dapat mabahala ang mga estudyante kung sila ay makatapos na ng high school dahil maaari nilang ipagpatuloy ang kanilang account lalo pa kung silay ay maging scholar sa kolehiyo sa ilalim ng scholarship program ng Taguig.

 

Ang Taguig City ay nagbibigay ng siyam (9) na scholarship program — Taguig Learners’ Certificate (TLC) scholarship program at ang Lifeline Assistance for Neighbors In-need (LANI) scholarship na may walong kategorya — Premier, Full, Priority, Basic, SUC/LCU, Basic Plus, Leadership and Educators Advancement and Development (LEAD) o Review.

 

Lahat ng scholarship program ay tinalakay at ipinaliwanag din sa mga estudyante noong financial literacy seminar.

 

“Sa seminar na isinagawa, naniniwala kami na ang mga estudyante ay masasanay at matututo na makamit ang high honors. Dahil dito, ang city government ng Taguig ay parating naka-agapay upang tulungan sila na matupad ang kanilang pangarap,” saad pa ni Lopos.

 

Ang financial literacy program ay isa lamang sa maraming programa para sa mga estudyante na sinimulan ni Mayor Lani Cayetano.

 

Kasama sa programa ang pamimigay taun-taon ng libreng set ng uniform, school supplies at “grab bags” o emergency kits sa mga elementary students.

 

Dahil sa ganitong klaseng programa, ang Taguig ay nakakapagtanim ng investment sa edukasyon ng kabataan na nagbunga sa pamamagitan ng pag-top sa National Achievement Test (NAT) para sa elementary at high school students sa dalawang magkasunod na taon noong 2014 at 2015.

 

Sa kolehiyo, mahigit na P625-million scholarship fund ang patuloy na sumusuporta sa mga estudyante na naka-enrol sa University of the Philippines, Ateneo de Manila University, De La Salle University, at iba pa. Ang Taguig ay nagbibigay din ng scholarship sa mga graduate students na kumukuha ng law at medicine. ###