Business leader Magdaleno B. Albarracin Jr., vice chairman of PHINMA Corporation, and his wife Trinidad M. Albarracin have pledged P400 million to PHINMA Foundation Inc. to help students complete their college education.
The donation was formalized through a memorandum of agreement signed with foundation president Nicole del Rosario-Serafica. Under the agreement, PHINMA Education will receive P30 million annually for the next 20 years.
The funds are expected to benefit around 30,000 underprivileged students. The donation will support two main programs: a scholarship fund for qualified second- to fourth-year students, who will receive P30,000 per year until graduation, and a financial assistance program for students facing emergencies that could force them to drop out.
Albarracin said education can transform lives and open opportunities, expressing hope that the donation will help students build better futures for themselves and their families.
The initiative comes as the Second Congressional Commission on Education (EDCOM 2) reported a 29 percent dropout rate in Philippine higher education in 2025, meaning many students leave college before earning a degree.
PHINMA Education said it has studied why students drop out and found that financial and personal challenges often interrupt their studies. The organization aims to strengthen support systems to help students overcome these difficulties and stay in school until graduation.
