The state owned Development Bank of the Philippines launched a P2 billion special lending program that should be made available to schools and other educational institutions for re-lending to poor but deserving students. The DBP Higher Educational Loan Program for Students or DBP HELPS, is a wholesale loan facility using qualified educational institutions as conduits for student loans. The program has been designed to support the “Education for All” plan.
Educational institutions with transparency and good governance practices, proven level of excellence, track record of performance, and tie-ups with employers/ manning companies are eligible to borrow under the DBP HELPS.
Under the program, educational institutions and their accredited partner companies/ employers shall conduct the prequalification and selection of student borrowers. Educational institutions may borrow up to 90% of the total cost, but not to exceed P150-million, based on the total cost of eligible expenditures and the number of student-borrower applicants.
A tripartite contract with the educational institution and student borrowers commits partner companies/ employers to provide on-the-job training, subsequent employment, and automatic payroll deductions to enable student borrowers to repay their loans.
Qualified expenditures include the cost of tuition, board and lodging, books, uniform, school materials, review and licensure fees, travel documentation, travel fees, airfare and other training fees.
Eligible student borrowers should be at least high school graduates, of good moral character, with excellent academic performance, and the mental and physical fitness to undergo and complete the program.
Eligible courses include maritime, education, skills training certification on technical/ vocational courses, culinary arts, information technology or business process outsourcing-related courses, hospitality management, graduate and post-graduate courses, and other bridging courses.
DBP HELPS is an extension of the DBP Endowment for Education Program (DEEP), a corporate social responsibility project of DBP. DEEP provides scholarships to bright and promising youth (including persons with disabilities) from low-income families who wish to pursue a degree or non-degree course in the fields of maritime education, agriculture, technical/ vocational courses, entrepreneurship, forestry, education, and hotel and restaurant management
This is a scheme that extends loan or credit to deserving students who are entering freshman college or tertiary students with college units earned.
Further reading, https://www.devbnkphl.com/news.php?id=151
At least high school graduate
Good morale character
Excellent academic performance
Mental and physical fitness to complete the program
Please see the requirements of your school also
DBP RISE scholarship program
The bank also introduced the DBP RISE program intended to support students enrolled in the accountancy, engineering, education and information technology courses. In this undergraduate scholarship program, DBP will shoulder tuition fees, board and lodging expenses, living allowance, cost of apprenticeship, residency training and expenses during review for board exams.
The program is financed by a P500 million seed fund that targets underprivileged high school graduates across the country. The DBP RISE is one project that can make a substantial difference in the lives of many poor people.
The DBP has tapped 14 partner-schools for this initiative comprised of eight state universities and colleges and six private educational institutions. These schools are the University of the Philippines Los Baños, Polytechnic University of the Philippines, Bulacan State University, Emilio Aguinaldo College, Mindanao State University, Mindanao State University of Science and Technology, Misamis University, Our Lady of Triumph Institute of Technology, Palawan State University, Philippine Normal University, University of Cebu, Lyceum of the Philippines University Batangas, West Bay College and West Visayas State University.
DBP RISE is the offshoot of the DBP Endowment for Education Program (DEEP), which is nearing its completion after a decade of implementation. DBP RISE will provide scholarships for the next five years.
Submit your application to
Your School OR Company