PHINMA Corp. vice chairman Magdaleno Albarracin Jr. and his wife, Trinidad, have pledged P400 million to help 30,000 underprivileged students complete college over the next 20 years.
The donation, formalized during a memorandum of agreement signing Feb. 16, will be channeled through PHINMA Foundation Inc. to provide annual financial aid to PHINMA Education students. Under the agreement, the foundation will receive P30 million annually to assist students with tuition and emergency expenses from enrollment until graduation.
The move comes as the PHINMA Group seeks to address high dropout rates in Philippine higher education. Data from the EDCOM 2 report indicate a 29 percent dropout rate for 2025, suggesting that nearly one in five students leave college before earning a degree.
“Education is a very powerful instrument for uplifting our underserved youth — I myself have seen the many doors it opened and vast opportunities it unlocked for a better life,” Albarracin said. “It is our hope that investing in our students will help them realize their full potential.”
PHINMA Education will divide the funds between two primary initiatives. A scholarship fund will provide P30,000 annually to qualified students from their second to fourth year of college, while a separate financial assistance program will help students facing sudden crises that might otherwise force them to abandon their studies.
Research from the PHINMA Education analytics team shows that student attrition is rarely caused by a single issue but by accumulated challenges and a final triggering event, such as a financial crisis. The study identified financial flexibility as a critical factor in keeping students enrolled.
Happy Tan, PHINMA Education Philippines country head, said students often face unexpected challenges despite a strong desire to graduate.
“We want to support them when it matters most and continue standing by them through any obstacles they may face throughout their entire college journey,” Tan said.
PHINMA Foundation president Nicole del Rosario-Serafica thanked the Albarracin family for the contribution, noting it will impact thousands of families. The PHINMA Group, now in its 70th year, operates PHINMA Education as a network of schools focused on providing affordable, quality education to low-income students.
