IN partnership with the Securities and Exchange Commission, the Department of Education is set to roll out a financial literacy program to teach students and out-of-school youth how to manage their finances and avoid being victimized by investment scams.
The program, dubbed “SEC Communication, Advocacy and Network” is in the Memorandum of Agreement signed last Wednesday between DepEd Secretary Sonny Angara and SEC chief Emilio Aquino.
The MOA will see them collaborate in the creation and distribution of educational materials on how to manage and invest finances, as well as on financial literacy and how not to be victimized by investment scams.
The two will also “collaborate in the conduct of “web-based training programs.”
Aside from students and OSY, the DepEd said teachers and non-teaching personnel will also be targeted by the program to prevent them from falling victim to scams, especially those who promise quick returns on their investment.
“The partnership will also hold activities that will help the SEC in flagging investment scams by sharing information about suspicious business activities, monitoring and reporting investment-taking activities, and the like, within the DeEd’s jurisdiction,” the DepEd added.
In 2020, then DepEd chief Leonor Briones issued an advisory warning teachers and non-teaching personnel from putting their money in get-rich-quick schemes.
Briones’ advisory said these schemes lure teachers with promises of huge returns by investing their money while dangling the prospects of higher net pay, cars and vacation, among others.
