THE PERPETUAL SCHOLARSHIP TRUST FUND
Creating a Legacy of Generosity
The Perpetual Scholarship Trust Fund is a fund managed by CITE and composed of the individual Perpetual Scholarships granted to students of the Industrial Technician Program (ITP). Each scholarship grant amounts to Php 150,000 as a one-time giving to support one scholar every year on a perpetual basis. Each grant will carry the desired name of the benefactor.
The Fund shall be managed as an endowment for the ITP. The income from the Fund provides a permanent yet flexible source of support for the ITP students. The benefactor shall be given the right of first refusal in the hiring of his scholar.
THE STUDENT ASSISTANCE PACKAGE
One Good Act Generates Another
The Student Assistance Package comes in four modes:
(a) Uniform subsidy,
(b) Meal subsidy,
(c) Board & lodging subsidy, and
(d) Transportation allowance.
The uniform requirements of each student is five (5) shirts annually, or a total of fifteen (15) for the duration of the ITP. The subsidy is pegged at PhP 500.00 for every student in each year. Through mutual agreement, we can draw up provisions to put the benefactor’s organization or company name or logo on the uniforms of the beneficiaries.
The meal subsidy defrays the cost of meals in school. The daily meal subsidy is placed at Php 25.00.
Board & lodging subsidy
The board & lodging subsidy defrays the cost of board and lodging in the home or rental in boarding homes or apartments. The monthly subsidy is pegged at PhP 500.00.The Study-Now-Sponsor-a-Scholar- Later Program (SNSSLP) is a development program that encourages both benefactors and beneficiaries of CITE's Industrial Technician Program (ITP) and Out-of-School Youth (OSY) Programs to contribute towards the sustainability of CITE's training programs.
The transportation allowance defrays the cost of public utility fare, from the student’s place of residence to CITE and back. The monthly subsidy is placed at PhP 750.00.
The determination of the board and lodging subsidy and transportation allowance shall also be subject to the student’s place of residence. Students who live in boarding homes close to the school may receive the maximum board and lodging subsidy, but would not be subject to any transportation allowance, for example.
There may be other ways of giving under the student package, such as subsidy for books and tools. The amount of the subsidies will depend on the generosity of the benefactor and the need of the student.
The Study-Now-Sponsor-a-Scholar- Later Program (SNSSLP) is a development program that encourages both benefactors and beneficiaries of CITE's Industrial Technician Program (ITP) and Out-of-School Youth (OSY) Programs to contribute towards the sustainability of CITE's training programs.
For the benefactors, the SNSSLP gives them the opportunity to partner with one another in providing funding for CITE's ITP and OSY training courses. For the students and graduates, the SNSSLP gives them the opportunity to give back to the school -- this has basis on each student-scholar's understanding that he has the obligation to contribute to the CITE Scholarship Fund in grateful recognition of the benefits that he received as a student-scholar and in his cognizance of the need to sustain the viability of the program in order to help others, particularly other student-scholars.
The SNSSLP thus pools contributions from these two main groups at specified periods by sharing in the cost of CITE education. The benefactors group consists of (1) the Parents, (2) the Dual Training System partner-companies, and (3) those individuals or groups from both the public and private sectors who offer scholarship grants in various forms as may be acceptable to CITE.
The sharing is envisioned accordingly:
Industry DTS 30%
This cost-sharing mechanism becomes more attractive to benefactors because they see that the legacy of generosity is developed through the cooperation of more people, and that the beneficiaries themselves work towards contributing to their and future scholars' training sustainability. The beneficiaries, on the other hand, are confident that their training at CITE is uninterrupted, and that the otherwise "financial burden" of finishing the training is made more manageable.
The Parents Share. Since it is the right and duty first and foremost of the parents to provide for their children's education, the SNSSLP sees that this right and duty are not to be taken away from the parents. It is only fitting, and the parents agree, that they need to contribute to the Fund. At the beginning of the Training Program, the parents pledge an annual amount according to their generosity and capabilities, which they hope to contribute for the three years (for ITP; shorter periods for OSY courses) that their children are in training.
The Industry and DTS. Since industries benefit from CITE trainees through the Dual Training System and later on through direct hiring or absorption of graduates, the SNSSLP helps them practice corporate social responsibility through their contributions in the form of DTS subsidies to CITE. About forty percent (40%) of the DTS subsidies are given to the students in the form of allowances. The rest of the subsidies go into the Fund as Industry contributions in behalf of the DTS trainees, estimated to reach thirty percent (30%) of the cost of education.
Others. The CITE alumni, individuals, community and other private organizations, as well as local governments and agencies, also share in the cost of education in two ways: (1) Perpetual scholarships or one-time endowments that contribute to the SNSSLP Fund through interest earnings of pooled funds; and (2) tuition and fees scholarships that share through direct annual tuition subsidies. The projected share to the Fund is thirty percent (30%).