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NUSP: Hundreds of millions in profit, continued tuition increase is indecent for schools

The National Union of Students of the Philippines (NUSP) slammed schools for their continued “profiteering” in the midst of continuing price increases and in spite of making millions in profit.

“In a time when most Filipinos are hard-up, it is indecent that schools’ net profits continue to increase yearly and yet these schools still continue to increase tuition rates and add miscellaneous fees to their charges,” says NUSP secretary-general Isabelle Baguisi.

Baguisi adds, “Schools say that tuition and other fees increase to prevent possible bankruptcy and stalled school operations but, when they post hundreds of millions in profit, statements such as those are as good as lies. There is no threat of bankruptcy; there is only the possibility of a reduction in income. This is profiteering in its most naked form.”

The statement comes following reports to the organization that academic year 2012 – 2013 will have another round of schools pushing for tuition and other fees increase. It also comes out in the heels of reports that the Far Eastern University and the Centro Escolar University netted P302.57 million and P248.12 million from last year.

“Facing the threat of education being reduced to a mere commodity for the privileged, the youth can no longer afford to stay silent and unconcerned. Various youth groups and student councils in the country are challenging their schools to open accounting books and to justify tuition increases. We are not afraid to challenge them on this because it is our right to do so, and it is the administration’s responsibility to be forthright.”

Baguisi ends by challenging the Aquino administration and the Commission on Higher Education (CHEd) to get involved and do their jobs. “CHEd should pay attention to the failure of CMO 13 and replace it with a genuinely pro-student tuition consultation guideline. This administration, on the other hand, should quit its frivolities and review the Education Act of 1982.”