Victoria's most expensive private schools, including Geelong Grammar, Penleigh and Essendon Grammar, and Mentone Grammar, will have their federal funding reduced over the next five years due to being "overfunded" by millions of dollars. The list of 299 schools, published for the first time during Senate estimates, includes institutions that have banked excess funds from the Commonwealth since 2024. Education Minister Jason Clare has vowed to transition these schools down to their assessed School Resourcing Standard (SRS) by 2029.
Finance Secretary Ralph Recto expressed confidence that the economy will experience a robust growth next year following the signing of the P6.3 trillion national budget for 2025. The budget prioritizes education and capital outlay sector initiatives, aligning with the Philippine Development Plan (PDP) 2023-2028 goals. Senate President Francis Escudero noted that the country avoided starting the new year on a reenacted budget, while Senator Grace Poe highlighted the importance of fiscal discipline in the budget's approval process. The President vetoed certain items in the budget measure's unprogrammed appropriations to ensure government spending is based on solid revenues.
https://www.manilatimes.net/2024/12/31/news/marcos-signs-2025-budget-vetoes-p194b/2028297A bill aimed at enhancing the financial literacy of overseas Filipino workers (OFWs) is currently pending in the Senate after being filed in August. The bill, known as Senate Bill 2792, was approved by a committee and is now awaiting further review. Senator Bong Revilla co-sponsored the bill, emphasizing that financial literacy is an essential tool for OFWs to manage their earnings, investments, and remittances effectively.
https://www.manilatimes.net/2024/11/24/opinion/editorial/making-remittances-count/2010142Linda McMahon has been chosen by President Trump to serve as Secretary of Education, despite limited experience in the field. She is a graduate of East Carolina University and served on the Connecticut State Board of Education for two years, but did not work as a teacher. McMahon's background is primarily in business, having built WWE into a global enterprise with over 800 employees. She has also been a major donor to Trump's campaign and serves as co-chair of his transition team. Critics, including the National Education Association and the American Federation of Teachers, have expressed concerns about her qualifications for the role. McMahon will require Senate confirmation before taking office.
https://krcgtv.com/news/nation-world/5-things-to-know-about-trumps-pick-to-lead-federal-education-department-linda-mcmahon-education-experience-business-executive-wwe-sba-america-first-policy-institute-connecticut#