Youth group Anakbayan accused the Commission on Higher Education (CHED) of receiving bribes from big schools.
Vencer Crisostomo, chairperson of Anakbayan said “CHED should divulge how much the schools are earning. The profits of three big schools in 2013 and 2014 already reach more than P10 billion. We wonder how much of this these lying CHED officials got as bribes.”
Kabataan Partylist, said the Far Eastern University (FEU) posted a gross profit (gross revenue less cost of goods and services) of P1.7 billion in 2013 and P1.5 billion in 2014, based on its financial statements submitted to the SEC. Ateneo de Manila University posted P2.9 billion in gross profits for both 2013 and 2014 and University of the East posted gross profits amounting to P1.9 billion in both 2013 and 2014.
University of Sto. mas (UST) collected a total of P2.8 billion from tuition and P672 million from other school fees and posted a net revenue of P1.4 billion. De La Salle University collected a total of P1.8 billion in tuition and P540 million in other school fees for 2013, and posted over P600 million in net revenue for the same year.
In a statement, CHED claimed they are ensuring that “tuition fee increases are transparent, reasonable and affordable.” CHED also refused to divulge data on tuition hikes and said they can only give estimates on April 1.
