MANY Filipino college students face money problems while studying. Even if tuition is free in state universities and colleges (SUCs), students still need to pay for food, transportation, rent in boarding houses and school projects.
With the limited options offered by SUCs, some opt to study in private colleges or universities. For those who come from poor families, these expenses can be very heavy. But with discipline, creativity, and support, it is possible to survive and finish a degree.
One of the biggest costs that college students face daily is transportation. Fares for public transportation share a big part of the allowances of the students. This is more significant when their school is far away from home. Some students who live in boarding houses located near the campus, on the other hand, spend for rent, electricity, and water bills. Aside from these, there are school requirements like printing, internet load, uniforms and group projects. Some students also help their families by sending money home or supporting younger siblings.
Personal financial planning can help overcome these challenges.
Students can create a simple budget as a way to manage their money. They can jot down their ‘baon’ on a daily basis and identify how much of that baon goes to transportation and food. This way it would be easier for them to check where their money goes. Instead of cooking outside, they can cook meals all at once (to be eaten for brunch and dinner). They can bring water bottle that can be refilled at a water fountain.
Another crucial way is to apply for scholarships. The Commission on Higher Education (CHED), the Department of Science and Technology (DOST) and local government units offer scholarships and allowances. Many private schools offer generous scholarship grants as well. Private foundations also give financial help. Applying may take time, but even small scholarships can make a big difference.
Students should also use their rights to discounts. With a school ID, they can get lower fares on jeepneys, buses, and other public utility vehicles. Some companies also give student discounts for software and other services. Using the library or free online resources instead of buying books can also save money.
Working part-time is another option. Students can inquire from their schools if they offer student assistant program wherein part, if not all, of their allowances can be charged against their tuition fees. Small businesses such as selling snacks, clothes, or school supplies to classmates can also help. Other part-time jobs like becoming a service crew in fast food chains can also greatly help in their finances. The important thing is to choose work that does not harm studies.
It is also important to avoid debt. Some students borrow from informal lenders or use ‘5-6’ loans. However, these have very high interest and may aggravate the problem. If they really need to borrow for tuition, some schools offer flexible payment schemes or partner with third-party lenders with friendly interests.
Aside from money, the right attitude is also important. They need to be resourceful such as sharing learning materials, borrowing from libraries, or using free online materials. They also need community spirit. In the Philippines, bayanihan is part of culture. Sharing meals with boardinghouse mates, carpooling, or joining study groups can save money and build friendships.
Some schools provide free breakfast especially for students who can’t really afford to buy food. For those students who juggle work and studies, they can politely request from their teachers for a more flexible deadline. Many organizations like Churches, civic groups, government agencies also provide financial or material help. Asking for help is not a weakness but a way to survive and succeed.
Although financial struggles are very hard, they can also make students stronger. Those who learn to manage money early develop skills in budgeting, time management, and problem-solving. These skills are crucial later in their personal and professional life. A lot of those who are successful today once experienced these hardships. Though hard but it is not impossible.
At the end of the day, financial challenges in college are temporary. College students need to keep on reminding themselves that Education is an investment and an important key to better opportunities that will help make their lives better. With determination and support, one can proudly say, ‘I made it!’