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PNoy OKs law requiring schools to teach youth how to be entrepreneurs


President Benigno Aquino III has signed a law requiring schools nationwide to teach financial literacy and youth entrepreneurship to Filipino pupils and students.

Under Republic Act (R.A.) 10679 signed by Aquino last Thursday, the Department of Education (DepEd) is tasked to ensure that the K-to-12 curriculum will cover topics on entrepreneurship and financial literacy.

For instance, elementary school pupils will be taught “ideal values necessary to become successful entrepreneurs.”

The law also mandates the Commission on Higher Education (CHED) and the Technical Education and Skills Development Authority (TESDA) to “ensure the promotion of programs on entrepreneurship and financial leadership.”

The DepEd, CHED, TESDA, Department of Trade and Industry and the National Youth Commission will also form an Entrepreneurship Education Committee to standardize current school programs on entrepreneurship.

R.A. 10679 also directs the DepEd, CHED and TESDA to assist, through grants and loans, deserving young entrepreneurs pursuing projects on entrepreneurships.

Entities teaching entrepreneurship may also receive grants from the government for a term of not more than four years each on a competitive basis, based on the new law.

A joint congressional oversight committee was also created to monitor the implementation of this legislation. —Andreo Calonzo/KBK, GMA News

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