MANILA, Philippines - The Presidential Task Force on Education on Friday said it is now working on a plan to provide "policy guidelines" for the Social Security System (SSS) to adopt an educational loan program for its members.

This came amid fears expressed by various sectors that Commission on Higher Education (CHED) chairman Romulo Neri's appointment to the top SSS was part of a Palace plan to divert funds to finance government programs.

In a telephone interview with GMANews.TV, Presidential Assistant on Education Mona Valisno said the task force is working to finalize guidelines for the implementation of the educational project which is seen to benefit millions of students whose parents are members of the SSS.

Valisno said developments on the finalization of the guidelines are expected within two weeks time, with the task force scheduled to meet on July 29.

"This is a program that is intended to give loan assistance to students whose parents are members of SSS. We are discussing it in the Presidential Task Force on Education... on how we can access funds to be able to help more students in their education," Valisno said, noting that the program will likely target college students.

Valisno, however, noted that the education loan program is not what certain sectors fear as an attempt by Malacañang to divert SSS funds to bankroll government programs.

She said the task force will only provide the "policy guidelines" and suggest to SSS to adopt the program.

"This is not going to be a government program, this will be a program of SSS. What the task force can do is to propose it to them (SSS), give the policy guideline for them (SSS) to use. They (SSS) will be discussing this internally... They have internal management control so they will decide," Valisno said.

The official admitted that Neri's appointment as the next SSS chief will facilitate the agency's adoption of the program, since Neri is presently a member of the Presidential Task Force on Education in his capacity as the CHED chairman.

Earlier in the day, Executive Sec. Eduardo Ermita sought to downplay fears that Neri's appointment was part of plans to divert SSS funds - which are actually contributions from member-employees of private companies throughout the country - to finance government programs.

Ermita said that Neri - who had also been appointed to the Malacañang task force which would oversee pro-poor programs - will not have the power to solely decide on how the agency's fund would be used.

"Siguradong hindi magagamit iyan. Ang lagay lang niyan, dahil naninniwala lamang kasi si Presidente Arroyo na kinakailangan ang isa lamang oversight ng programang iyan. Sabi ko nga kay Secretary Neri, hindi nangangahulugan na ikaw ang magpapatakbo ng programa ng DSWD, DOH, Landbank at kung ano pa," Ermita said.

After confirming her resignation, outgoing SSS president Corazon dela Paz had urged the pension fund's 27 million members to be "vigilant" against groups and individuals who want to use their money for agenda not allowed under the SSS charter.

"You have to be vigilant and make sure that the funds will be used properly and in the interest of all the SSS members," Dela Paz said.

Dela Paz noted that some quarters have allegedly expressed intentions to utilize the funds of SSS members for the government's pro-poor agenda.

"What I was saying was that it's not included in the (SSS) Charter. Using the funds has limits," Dela Paz said, adding that there are a lot of problems in the country that needs to be dealt with funds.

She said that SSS funds cannot be used to finance pro-poor projects of the government "unless it is defined in the Charter."

The SSS is a government-controlled financial institution. - GMANews.TV