Security Bank Internal Scholarship 2024 | Apply Now!

In the Philippines, financial constraints pose a common challenge, hindering access to higher education for many individuals.

This obstacle prevents talented students from pursuing their academic aspirations, perpetuating inequality and stifling personal and societal advancement.

The Security Bank scholarship directly addresses this issue by offering financial assistance to deserving students.

By providing vital resources, the scholarship program empowers individuals to overcome financial barriers and pursue their educational goals without hindrance.

This article serves as a guide, offering solutions to the challenges faced by aspiring students. You’ll find detailed information on qualification criteria, application procedures, and program benefits, equipping you with the tools to navigate the path to higher education successfully.

Through this scholarship, students can unlock their full potential, contributing to a brighter and more equitable future for society.

About Security Bank Internal Scholarship Program

Security Bank Foundation, Inc. (SBFI) is the corporate social responsibility arm of Security Bank Corporation (SBC), established on August 25, 1993. Since its inception, SBFI has been dedicated to advocating for education as a long-term solution to poverty alleviation. 

Through various initiatives, such as building classrooms, continuous training and development of teachers, and providing scholarships to deserving students, SBFI strives to ensure a better quality of education for the Filipino youth, believing that this secures a better future for the nation.

Security Bank Foundation Scholars for Better Communities Scholarship Program aims to provide educational assistance to underprivileged but deserving students. 

The scholarships are three-pronged: offering educational assistance to Security Bank agency personnel and their children, to Security Bankers who need financial support for their post-graduate degree or their children’s expenses, and to deserving students not connected to the bank.

The Security Bank Internal Scholarship program provides educational assistance to Security Bank Group employees and their children, with the objective of employee retention and development. Security Bank Foundation funds and administers the scholarship.

Before applying for the Security Bank Internal Scholarship Program, it’s essential to understand the eligibility criteria. These requirements ensure that the scholarship is awarded to deserving individuals who meet specific qualifications.

Eligibility:

To qualify for the Security Bank Internal Scholarship Program, Security Bank employees must meet the following criteria:

1. Employment Tenure: Applicants must have a minimum tenure of 2 years from permanency status.

2. Good Employment Record: Applicants should possess a good employment record with no disciplinary issues.

3. Performance Appraisal: A performance appraisal rating of at least average is required.

4. Rank: Applicants must hold a rank of up to Senior Assistant Vice President (SAVP).

5. Educational Level: The scholarship is available for employees’ children applying from elementary to college levels and for employees themselves applying for post-graduate studies.

6. Academic Performance: Applicants must have a minimum General Weighted Average (GWA) of 83% or its equivalent.

7. Family Scholarship: There should be no other family member currently benefiting from the scholarship within the second degree of consanguinity or affinity.

8. Existing Scholarships: Applicants must not have any other existing scholarship except for discounts provided by schools.

These eligibility criteria serve as the foundation for selecting deserving recipients who demonstrate both academic excellence and a commitment to their roles within Security Bank.

Application Process:

Are you excited to apply for the Security Bank Internal Scholarship? We’ve simplified the process for you!

Here, you’ll find easy steps on what you need, how to apply, when to submit, and how they select recipients. 

Requirements:

Ensuring you have all the necessary documents ready is essential for a smooth application process. Here’s what you need to prepare for both the initial application and upon admission to the scholarship program.

Requirements (For all levels)

For Application:

These are the documents needed when initially applying for the scholarship program. Ensure you have all the necessary items ready before submitting your application.

1. Duly accomplished Online Application Form
2. Latest Report Card with Final General Weighted Average (up to the latest available quarter grading, if no final GWA)
3. Birth Certificate of Scholar
4. Endorsement letter signed by Security Bank Group Head Agency (Download template)
5. Portrait Photo of Scholar
6. Copy of Employee ID

Upon admission to the scholarship program:

These documents are required once you have been accepted into the scholarship program. You’ll need to provide these additional materials to complete the admission process and officially enroll in the program.

1. Copy of Good Moral Certificate from the last school attended
2. Copy of school calendar for AY 2023-2024
3. Certificate of Enrollment / Registration Card for AY 2023-2024
4. Copy of Assessment Fees (if applicable)
5. Copy of Security Bank Internal Account Number (IAN)
6. Copy of School Grading System (if the school does not use percentage [%] for grading)
7. Copy of Course/Program curriculum (for College and Master’s Degree only)
8. Copy of Official Receipts for tuition fee payment for A.Y. 2023-2024 (if applicable)
9. Medical Certificate from an accredited physician confirming fitness to work and study (if the employee is a student)
10. Copy of Employee’s Government Issued ID (for notary)

For Scholarship Renewal:

Elementary and Junior High scholars must renew their scholarship annually, while Senior High, College, and Post-Graduates scholars must renew every school term (semester/trimester). The following documents are required for renewal:

1. Online Renewal Form, Access form here.
2. Certificate of Enrollment/Registration Form for the next school term/year
3. Report Card/Transcript of Records indicating the general weighted average for the previous school term/year
4. Updated grading system from the school or university (if applicable)
5. Assessment of fees
6. Reconsideration Letter (only if the scholar fails to meet the per subject grade requirement)

Application Deadline:

The application deadline for Security Bank Internal Scholarship is June 30, 2024.

How to Apply:

Ready to begin your journey towards securing the Security Bank Internal Scholarship? Follow these steps for a smooth application process:

1. Ensure you meet the eligibility criteria outlined by the scholarship program.
2. Gather all required documents for both the initial application and upon admission to the program.
3. Complete the online application form accurately and thoroughly.
4. Submit the application along with all required documents before the deadline.

New Application:

5. Access the online application form for new applicants.

Renewal:

6. If you’re a current scholar looking to renew your scholarship, follow the renewal process outlined by the program. Access the renewal form.

Stay updated on the status of your application through the provided contact information or your gmail.

By following these steps and utilizing the provided links, you’ll be on your way to accessing the valuable opportunities offered by the Security Bank Internal Scholarship.

Screening and Selection Process: for the Security Bank Internal Scholarship

During the Screening and Selection Process:

1. Only applications submitted online will be screened by Security Bank Foundation’s Scholarship Officer.

2. Security Bank Foundation may validate the data indicated in the application through mobile phone calls and email correspondence.

3. Admitted applicants will be notified via mobile phone calls and email. Applicants should ensure that the contact information provided in the online application form is active.

4. Newly admitted scholars will sign a scholarship contract to confirm their admission.

The Benefits and Programs of the Scholarship encompass various forms of financial assistance and support aimed at facilitating the educational journey of scholars in the MSRS Program. 

From tuition subsidies to allowances for essential expenses, this scholarship program strives to alleviate the financial burden on students pursuing a career in medicine.

Benefits and Programs of the Security Bank Internal Scholarship:

Explore SBFI’s diverse scholarship programs, which cover eligible courses from elementary to post-graduate levels. Discover the comprehensive financial aid package, including tuition and miscellaneous fee coverage, as well as generous stipends tailored to various educational levels. 

Additionally, learn about the enriching non-monetary benefits, such as internship opportunities, involvement in corporate social responsibility activities, and access to learning sessions provided by partner institutions.

Eligible Courses:

Scholarship slots are available for students from elementary to post-graduate levels. College and post-graduate students must pursue courses directly related to bank operations.

Scholarship Package:

Each scholar is entitled to the following benefits per academic year until they complete their current education level:

TUITION AND MISCELLANEOUS FEES	Maximum Amount
Elementary to Senior High School	Php 65,000 per year
College and Master’s Degree	Php 85,000 per year

STIPEND	Amount
Elementary to Senior High School	Php 20,000 per year (Face-to-face learning delivery)
	Php 30,000 per year (Face-to-face learning delivery)
College	Php 30,000 per year
Master’s Degree	maximum  Php 30,000 per year (Depending on number of units taken)
	Php 7,500 per semester ( 3 units or below)
	Php 15,000 per semester (6 units or above)

Note: Financial assistance will be released subject to the maximum amount per year and based on the actual number of months during which classes are conducted and ongoing.

Non-Monetary Scholarship Benefits:

In addition to financial assistance, SBFI offers developmental activities such as internship opportunities, participation in corporate social responsibility activities, and attendance at learning sessions provided by partner institutions.

Terms and Conditions: for the Security Bank Internal Scholarship

Before diving into your scholarship journey, familiarize yourself with the essential terms and conditions. These guidelines outline expectations and responsibilities for scholars and sponsoring employees, ensuring clarity and success.

1. The scholarship assistance begins in the academic year the scholar is admitted and concludes upon completion of the last grade or year of the respective education level (e.g., elementary, junior high, senior high, college, and post-graduate).

2. For college and post-graduate students, enrollment must meet the minimum number of units/load required by the school each academic year.

3. cholars are required to maintain a minimum of 83% general weighted average and 83% per subject grade by the end of each term or academic year.

4. Security Bank employees must maintain good employment records and continue working in the Bank.

5. A two (2) years’ service contract is required from the employee upon the scholar’s graduation from any school level.

6. If the employee resigns or intentionally discontinues support for the scholar before graduation, they must reimburse 100% of the total benefits provided.

7. Shifting to another course and/or transferring to another school without valid reasons, resulting in additional terms/years to complete the school level, may affect scholarship eligibility.

Termination: for the Security Bank Internal Scholarship

A scholar may face termination from the scholarship under the following circumstances:

1. Failure to submit renewal requirements by the deadline.
2. Not meeting the required general weighted average.
3. Receiving a failing, incomplete, or dropped grade in academic or non-academic subjects.
4. Deferring enrollment in a school year (except for health reasons).
5. Violating school policies during the scholarship period.
6. Receiving an employee performance appraisal rating lower than Average.
7. Violating company policies or committing infractions.
8. Resigning from or discontinuing employment at the bank.
9. Availing another scholarship concurrently.

Final Thoughts:

Security Bank believes in the power of education and offers scholarships to help students succeed. By supporting scholars, Security Bank is investing in the next generation of leaders and making a positive impact on communities. 

With scholarships for different levels and fields of study, Security Bank shows its commitment to helping everyone reach their potential.

If you’re looking for support to further your education, apply for a Security Bank scholarship now. 

Don’t miss out on this opportunity to pursue your dreams and create a better future for yourself. 

Take the first step towards success by applying. 

Frequently Asked Question:

1. Why can’t I open the scholarship application or renewal link?

If you’re having trouble opening the application or renewal link, try using your personal laptop or mobile device instead of your work computer, as company computers may have restricted access. If the issue persists, check with your IT department to troubleshoot any technical or network errors.

2. Is the scholarship slot given on a first come, first served basis?

No, it’s not. All applicants, regardless of their position or rank, are treated equally. They undergo the same selection process.

3. Can I apply for all my eligible children and hope one gets the scholarship?

Answer: No, you can only apply for one child. The competition for slots is high, and we want everyone to have a fair chance.

4. Can I apply for my sibling or relative?

The Internal Scholarship Program is specifically for children of SBC Group employees or for employees pursuing further studies. However, you can explore the External Scholarship Program offered by the Foundation for other options.

5. My child has just finished Grade 6 (Elementary) / Grade 10 (Junior High School) / Grade 12 (Senior High School). Do I just renew the scholarship, or do I apply for a new scholarship?

Since your child has completed a school level (e.g., Junior High School), they will need to apply for a new scholarship slot in the next school level (e.g., Senior High School) and undergo the usual selection process.

6. Is there a grade requirement to maintain the scholarship?

Yes, there is an 83% grade requirement for both per subject grade and General Weighted Average (GWA) to maintain the scholarship.

7. If my child received a subject grade below the maintenance grade but the overall General Weighted Average (GWA) is still above 83%, can they still renew?

Yes, your child can. Up to two reconsiderations are allowed for existing scholars if they fail to maintain the scholarship due to reasons other than major school infractions or excessive extracurricular activities affecting their grades.

To request reconsideration, your child must submit a Request Letter for Reconsideration addressed to the “Scholarship Committee.” This letter, drafted by the scholar and noted by the parent-employee, should explain in detail why the grade was not maintained in the specific subject. However, please note that the continuation of scholarship assistance is subject to the approval of the Scholarship Committee.

8. If I received a below maintenance grade in P.E. / NSTP, can I still apply for renewal?

Yes, you can. Scholars are only required to pass Physical Education (P.E.), National Service Training Program (NSTP), and other non-academic subjects. No need to submit a Request Letter for Reconsideration. However, please note that MAPEH is not considered a non-academic subject.

9. Can I change my college major if I’m already a scholar?

The Internal Scholarship policy doesn’t allow for changing majors. However, you can shift to another major related to your current one, as long as the time to complete both majors is the same (e.g., 4 years). 

To do so, you need to submit a Letter for Reconsideration to “The Scholarship Committee” explaining your reasons. However, approval is subject to their decision.

10. Can I transfer to another school as an existing scholar?

Transferring schools is generally not allowed according to our policy. However, you can submit a Request Letter for Reconsideration to the Scholarship Committee. Please note that you’re only allowed up to two reconsiderations for not meeting the scholarship requirements. (Refer to the “Terms & Conditions” and “Termination” sections for more details.)

11. If I’m promoted to Vice President from SAVP, will my scholarship still be valid?

No, the Internal Scholarship program is open to SBC Group employees from Rank 2 up to Senior Assistant Vice President (SAVP) only.

12. Do I apply for the SBFI scholarship first or enroll in the school for my Master’s Degree?

You should secure your Certificate of Enrollment / Certificate of Registration first, as it is a required document for applying for the scholarship.

13. Can SBC employees pursue a second degree?

Currently, the Internal Scholarship Program does not offer scholarships for second degree pursuits by SBC Group employees.

14. Is a doctorate degree covered by the Internal Scholarship Program?

Doctorate degree programs for SBC Group employees are not covered under the Internal Scholarship Program.

15. What courses are eligible for the College scholarship?

Eligible courses for the College scholarship include Accountancy, Business, Industrial Engineering, Management, Finance, Information Technology and Computer Studies, Mathematics, Statistics, Communications, and Social Sciences.

16. What degrees or courses are eligible for continuing education for SBC Group employees?

SBC Group employees interested in continuing education should apply for the Master’s Degree scholarship. Eligible degrees or courses include post-graduate programs (Master’s) directly related to the Bank’s operations. This includes fields like Accountancy, Business, Industrial Engineering, Management, Finance, Information Technology and Computer Studies, Mathematics, Statistics, Communications, Social Sciences, and Law Degrees.

17. Are certificate courses eligible for scholarship?

No, certificate courses are not covered by the scholarship program. However, you may explore funding options through your department’s budget, based on your individual development plan.

18. When can I re-apply if I was previously dropped from the SBFI scholarship?

If you were dropped from the SBFI scholarship, you can re-apply under the same scholar name once you have graduated from your current school level. For example, if you were dropped in Grade 3, you can re-apply after graduating from elementary school. The same applies for Junior High and Senior High School scholars. 

If you were dropped during your graduating year (e.g., Grade 6, Grade 10, Grade 12), you must wait for one (1) year before re-applying under the same scholar name. Unfortunately, for College scholars who were dropped, there is no next level scholarship available.

Additionally, the parent-employee can re-apply for another child, if any, as long as the reason for dropping the scholarship is not due to an infraction. Infraction cases have a prescribed period kept on the parent-employee’s employment record. You may verify if your infraction has been expunged from your record with HRDD through Ms. Aya Arevalo.

19. Can I still apply or renew if I received a PAR rating of 2 (below Average)?

Yes, you can still apply or renew. However, the Foundation’s policy requires that employees have a performance appraisal rating (PAR) of at least ‘Average’ at the time of application or renewal. Since the rating system has changed to a numerical system, HR will recommend to the Foundation if you are still eligible to renew. You will be notified by the Foundation if your PAR rating is not eligible for application or renewal.

20. How will I know if my scholarship application has been approved or disapproved?

You will receive an email notification (sent to both your personal and office email addresses) from Security Bank Foundation informing you whether your application has been approved or disapproved.

21. Where can I find the Endorsement Letter requirement?

You can access the Endorsement Form on Security Bank’s website under ‘application requirements’: 

22. Who can sign my Endorsement Letter?

For Internal Scholarship applications, only Area Heads, Division Heads, or Group Heads are authorized to sign the Endorsement Letter. BCMs and BMs are not permitted to sign your scholarship endorsement. Electronic signatures are accepted.

23. I want to apply for scholarship, but I do not have yet the Certificate of Enrollment. What document should I submit?”

You may submit an ‘Acceptance Letter’ from the school you will be enrolling for the incoming school year / term. However, once you have already enrolled, and you still need to submit a ‘Certificate of Enrollment’ issued by the same school and re-upload your requirements on the application link.

24. Can I fill out the application form if I don’t have all the requirements yet?

No. Incomplete requirements are not processed. The Foundation does not accept emailed requirements; all documentation is now centralized through One Drive.

25. What document should I submit if I want to apply or renew for a scholarship, but the academic year ends after July 31, 2021, and it’s currently the 3rd grading period/semester?

Submit the grades for the 2nd grading period of AY 2020-2021. Remember, full grades must be submitted 2-3 weeks after the school year ends. This rule applies to College/Masters scholars completing AY 2020-2021 as well.

26. What requirement should I submit if my child is an incoming Grade 1 student and his/her Report Card does NOT have percentage (%) equivalent?

Please submit a certified percentage (%) equivalent of the General Weighted Average (GWA) by the school. Grades with percentage equivalent are crucial for processing your application as they form the initial selection criteria.

If you’re unable to obtain this document due to uncontrollable reasons, consider applying next school year once the percentage equivalent can be provided.

27. Do I need to submit hard copies of requirements?

Avoid sending hard copies of requirements unless specifically requested by the Foundation. Hard copies are no longer stored in the office and will be shredded to protect personal information.

28. If I enroll in a public school, do I still receive the P65,000 tuition fee package?

No. Scholars are entitled to the actual cost of tuition fees based on the school’s assessment form and subject to the Foundation’s maximum claimable amount. If the school doesn’t require payment, such as in public schools or with full discounts, the tuition fee allotment won’t be released. However, scholars enrolled in public schools will still receive the monthly stipend.

29. If I received an ESC grant, can I still apply for the scholarship?

Yes, you can. However, the scholarship will cover only the remaining amount of tuition fees after deducting the ESC grant from the maximum allowable tuition fee package.

30. If I received an ESC discount or an academic discount (e.g., Dean’s lister discount), will I be dropped from the scholarship?

No, you will not be dropped from the scholarship if the discount comes from academic merits. However, the disbursable amount of the tuition fee package will only cover up to the maximum tuition fee amount indicated in your assessment fee.

However, if you receive another scholarship from a different provider apart from the school, your scholarship will be automatically dropped.

31. If my school calendar has 2 semesters (or up to 5 semesters) and I need to enroll for the 2nd semester, will I still be entitled to the P65,000 tuition fee and P20,000 (or P30,000) stipend on the 2nd semester?

No, the scholarship package applies for the entire academic year. Any remaining funds from the previous term will cover the full tuition fee package.

The stipend will only be released during the months when the scholar’s classes are conducted, equivalent to ten (10) months. The monthly stipend will end simultaneously with the termination of the academic year.

32. When can I expect the release of the stipend?

The stipend will be credited to your account during the first week of each month.

33. I’ve been waiting for my school payment reimbursement for months. When will it be released?

To request your tuition fee payment or reimbursement, use the ONLINE FUND REQUEST FORM. All payments are processed through this form. Make sure to read the guidelines before submitting. Stipend disbursements are separate and released monthly, so you don’t need to request them. Click the button above to access the form.

34. After filing a Fund Request Form, how will I know if the Foundation has paid my school directly?

You’ll receive an email notification to both your personal and office email when the check is ready for release. Please confirm receipt of the email and check for any errors in the amount or payee. If there are errors, notify the Foundation immediately. If no response is received within 6 hours, the Foundation will deposit the check the following day.

Once the Foundation deposits the check to the school’s bank account, you’ll receive a copy of the deposit via email. The original receipt for the payment must be sent to Security Bank Foundation’s office at 7th Floor, Security Bank Centre, 6776 Ayala Avenue, Makati City, Metro Manila, addressed to Ms. Racquel Tanyag.

35. Why are some fees not disbursed even after filing a Fund Request for the full remaining balance?

Certain charges, identified during assessment, may not be covered by the scholarship and are either deducted from the stipend or the parent’s counterpart.

36. Should I pay the down payment for the upcoming school year and then request reimbursement, or can SBFI pay it directly?

If the payment is due soon or the school requires immediate payment, it’s best to pay first and then seek reimbursement. However, if the payment isn’t due within the next three weeks, you can request SBFI to issue a Manager’s Check (MC) payable to the school.

SBFI aims to directly pay tuition fees to the school via check whenever possible. If the school doesn’t accept check payment, the actual tuition cost will be credited to your account, and you’ll need to pay the school directly. Ensure to submit the original official receipt to SBFI for processing.

Click the button above to file a fund request online.

37. What document can I submit if the school cannot issue an Official Receipt due to staff working from home?

You can submit soft copies of payment documents for reimbursement, including scanned Official Receipts, Deposit Slips, Credit Card Payments, Bank Transfer Payments, and Debit Card Payments. However, you must still provide the original hard copies of the Official Receipts within 45 calendar days to comply with BIR requirements. Send them to the SBFI office at 7th Floor, Security Bank Centre, 6776 Ayala Avenue, Makati City, addressed to Ms. Racquel Tanyag.

38. Will the Foundation cover fees for subjects taken during summer class or advanced subject loads?

Yes, fees for summer classes or advanced subject loads are covered by the Foundation, within the maximum tuition fee package of P65,000 per school year. This amount represents the maximum disbursement for the entire academic year.

The stipend will be released monthly for ten (10) months, aligning with the academic year’s duration.

39. If I am an existing scholar but want to resign, how much do I need to pay back to the Foundation?

According to the Scholarship Contract, upon graduation, all employees must fulfill a two-year service contract with the bank. If the employee fails to fulfill this contract, the Foundation will require repayment of all scholarship expenses (tuition and stipend) incurred during the last two years prior to graduation. If only a portion of the service contract is fulfilled, repayment will be calculated on a pro-rated basis.

40. If I was dropped from the scholarship program, do I need to repay anything to the Foundation?

No, there is no repayment required if you were dropped from the scholarship program. This policy applies regardless of whether you were dropped before the start of the new school year or halfway through the academic year.

41. If I’m a dropped scholar and I decide to resign, do I need to repay anything to the Foundation?

No, you don’t need to repay any amount to the Foundation. This policy applies whether you were dropped before the start of the new school year or halfway through the academic year.

Notice: Information Disclaimer

The PhilScholar website does not offer scholarship programs or engage in hiring activities. It serves solely as an informational platform providing details on scholarships and grants available for educational purposes.

While the PhilScholar website does not directly facilitate applications, users can find guides and informational articles related to admissions and scholarship application processes.

However, users are advised to meticulously examine the credibility of the content provided.

All information presented on this platform is intended for informational purposes only. 

Users are encouraged to verify any details independently before making decisions based on the content provided.

For additional verification or inquiries, references are provided at the end of the content section.

References:

1. Security Bank Corporation. (n.d.). Internal Scholarship Program. Retrieved from [https://www.securitybank.com/foundation/internal-scholarship-program/