By Daniel P. Tapaoan, Jr. 

Students of the Mariano Marcos State University will no longer have to wait in line to receive government subsidy for tertiary education as they will soon be issued cash cards. This setup will soon be enjoyed by MMSU scholars after the university has partnered with Land Bank of the Philippines toward a more efficient disbursement of financial assistance and stipends. 

In a memorandum of agreement signed by MMSU President Shirley C. Agrupis and LANDBANK Batac Department Manager Aurea H. Nolasco today, Sept. 7, LANDBANK Institutional Cash Card (LICC) accounts will be given to government-funded MMSU scholars starting this year. 

“This will surely expedite the disbursement of stipends to our academic scholars, and recipients of the Tertiary Education Subsidy and Tulong-Dunong Program of the Commission on Higher Education (CHED),” PSCA said. 

LICC combines the functions of a debit card and the automated teller machine card. It includes waived opening deposit and maintaining balance requirements, and 10-year card validity subject to renewal.

In addition, LANDBANK will train authorized MMSU representatives on the Anti-Money Laundering Act, particularly on the Know-Your-Client (KYC) procedure. For its part, MMSU will introduce the KYC procedure to its students before distributing their cash cards. 

The MOA signing was joined by Dr. Jan Rich Guira, university director for student affairs and services, and Dr. Jahnese Asuncion, chief for institutional programs and services.

The opening of cash cards is in accordance with the pertinent provisions of CHED Memorandum Order No. 09 series of 2013 on the Enhanced Policies and Guidelines on Student Affairs and Services. (HLY/JVBT, StratCom)