B. FUNDING OF PRIVATE SCHOOLS
Section 40. Funding of Private Schools - Private schools may be funded from their capital investment or equity contributions, tuition fees and other school charges, grants, loans, subsidies, passive investment income and income from other sources.
Section 41. Government Assistance - The government, in recognition of their complementary role in the educational system, may provide aid to the programs of private schools in the form of grants or scholarships, or loans from government financial institutions: Provided, That such programs meet certain defined educational requirements and standards and contribute to the attainment of national development goals.
Section 42. Tuition and Other Fees - Each private school shall determine its rate of tuition and other school fees or charges. The rates and charges adopted by schools pursuant to this provision shall be collectible, and their application or use authorized, subject to rules and regulations promulgated by the Ministry of Education, Culture and Sports.
Section 43. Income from Other Sources - Any private school duly recognized by the government, may receive any grant and legacy, donation, gift, bequest or devise from any individual, institution, corporation, foundation, trust of philanthropic organization, or research institution or organization as may be authorized by law.
Furthermore, private schools are authorized to engage in any auxiliary enterprise to generate income primarily to finance their educational operations and/or to reduce the need to increase students' fees.
Section 44. Institutional Funds - The proceeds from tuition fees and other school charges, as well as other income of schools, shall be treated as institutional funds. Schools may pool their institutional funds, in whole or in part, under joint management for the purpose of generating additional financial resources.
http://www.lawphil.net/statutes/bataspam/bp1982/bp_232_1982.html
No comments:
Post a Comment