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The Right Education (posted in

June 20, 2012

The Right Education

I am honored to have a guest post by my good friend Edmund Lao. Edmund is a Registered Financial Planner and a columnist for Business Mirror. He is also in the forefront of financial literacy for Filipinos.


The Right Education by Edmund Lao

Education  is the formal process by which society deliberately transmits its accumulated knowledge, skills, customs, and values  from one generation to another. Whatever knowledge we acquired from experiences, experiments and discoveries of the past generations became the basis of our education today. Without formal education nowadays, one is surely bound to be bracketed in lower caste. Such importance is given to education that the status of a person depends on what school school he or she graduated from. Taking a look at the present , it cannot be denied that education has become a luxury already. In the early 80s, tuition fees cost only around Php 50 per unit. Tasking a full load will mean only around a thousand per semester. Nowadays, the fees range from Php 30,000 to Php 200,000 per semester. Worse, the quality of education is not even at par with that of our Asian counterparts.

Just imagine the hardship all the parents have to endure just to have their children finish schooling. Then when the graduate finds a job, unless he comes from an exclusive school, the compensation he will receive pales in comparison to the expense incurred to finish his course.

Then the new graduate will be in the rat race, taking the same road traveled by The Tired, The Retired, and The Re-Tired. This is because our current educational system gave too much emphasis on the technical aspect. Our system gave little importance to teaching the basics and the values to our generation. Ever wonder why we have corrupt people in the government and in the workplace? The only culprit is the lack of right education. The more information and knowledge we have now, the more ignorant we become. The more ignorant we are financially, the more risk we make in handling our finances. Just observe. If really we are more educated …

Please read full blog at


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