Republic Act (RA) 12077, also known as the “Student Loan Payment Moratorium During Disasters and Emergencies Act,” was officially signed into law by President Ferdinand “Bongbong” Marcos Jr. on December 6, 2024.
Authored by Senator Lito Lapid, the law grants temporary relief to borrowers of student loans for higher education and technical-vocational programs during times of calamity or emergency.
Senator Lapid emphasized the importance of the law in easing the financial burdens of Filipino families affected by disasters, highlighting that education should not be compromised during challenging times.
“This law is our response to the plight of many students and their families who struggle to meet financial obligations when emergencies arise,” he said.
Under RA 12077, student loan payments can be deferred without accruing penalties or interest, giving families the flexibility to prioritize essential needs such as food, shelter, and healthcare.
The law applies to borrowers affected by declared disasters or emergencies, ensuring they receive much-needed support while safeguarding their access to education.
President Marcos lauded the initiative, noting its significance in fostering resilience and inclusivity in the Philippine education system.
He also called on institutions like the Commission on Higher Education (CHED) and the Technical Education and Skills Development Authority (TESDA) to ensure smooth implementation.
The passage of RA 12077 underscores Senator Lapid’s commitment to championing legislation that supports vulnerable sectors of society.
As the Philippines frequently faces natural calamities, this law serves as a critical measure to address the economic and social challenges brought by emergencies.