State-owned Development Bank of the Philippines (DBP) has earmarked P96.75 million for the second year of its flagship scholarship program aimed at expanding access to quality education for financially challenged students nationwide.

DBP president and chief executive officer Michael de Jesus said the Bank is rolling out the second year of the DBP Integrated Scholastic Program for Inclusive and Responsive Education or DBP INSPIRE, which is expected to benefit 500 scholars across the country.

“Through the DBP INSPIRE program, we seek to bridge opportunities for more underprivileged students to fulfill their aspirations and support the Marcos Jr. Administration’s broader agenda of improving access to quality education,” de Jesus said.

DBP INSPIRE is a five-year omnibus scholarship program launched last year that provides financial assistance to college students taking courses aligned with the Philippine Development Plan 2023-2028, including Accountancy, Education, Engineering, Agriculture and Forestry, Sciences, Maritime, Information Technology and Technical Vocational courses.

De Jesus said the P96.75-million allocation would cover tuition and miscellaneous fees for all year levels, including living allowances for food, lodging, and study materials.

He added that new courses such as marine biology, environmental sciences and oceanography would also be covered under the program.

For the second batch of scholars, DBP tapped 11 partner educational institutions nationwide, including six state universities and colleges, namely Pamantasan ng Lungsod ng Maynila, Cebu Normal University, West Visayas State University, Mindanao State University Tawi-Tawi, Mindanao State University Iligan Institute of Technology and Jose Rizal Memorial State University-Dipolog.

Five private higher education institutions were also included as partner schools, namely University of Baguio, STI Education Services Group, Cebu Institute of Technology-University, Notre Dame of Marbel University, and Holy Child Central College Inc.

“DBP recognizes the transformative power of education in uplifting the lives of our Filipino youth, and it will continue to support the National Government in advancing initiatives for younger generations to become globally competitive individuals and key contributors to economic growth and national progress,” de Jesus said.