President Ferdinand Marcos Jr. met with the Economy and Development Council (EDC) at Malacañang on Wednesday, November 11, to review key infrastructure and social development programs, including a new student housing initiative.
The meeting focused on Project Balay, a pilot program designed to build safe and affordable dormitory accommodations for students across five state universities and colleges (SUCs).
The initiative is set to prioritize students from families enrolled in the Pantawid Pamilyang Pilipino Program (4Ps) and other vulnerable sectors.
”Parents and families sending their children to college stand to benefit from the proposed construction of affordable student dormitories under Project BALAY, which aims to reduce accommodation expenses and provide students with safe places to stay while pursuing their degrees,” the Presidential Communications Office (PCO) said in a statement.
Financing and Implementation Plan
The initiative follows a memorandum of understanding signed in January between the Commission on Higher Education (CHED) and the Pag-IBIG Fund to establish accessible student housing.
According to CHED, each dormitory facility carries an estimated price tag of ₱165.6 million. The administration plans to cover either 30% or 10% of the cost upfront, with the remaining balance funded through the Pag-IBIG Fund:
- 30% Equity Option: Requires an initial government outlay of ₱51.85 million per SUC (₱259.27 million total for five schools), followed by annual loan payments of ₱61.56 million beginning in 2028.
- 10% Equity Option: Requires an initial outlay of ₱19.35 million per SUC (₱96.35 million total), followed by annual loan payments of ₱82.58 million beginning in 2028.
The financing structure spans a nine-year term at a 3% annual interest rate, with initial government equity and accrued interest slated for settlement in 2027.