Internet Security

FACT CHECK: SSS has no ongoing scholarship program

SUMMARY This is AI generated summarization, which may have errors. For context, always refer to the full article. The Social Security System warns the public about fake posts bearing the agency’s logo that contain suspicious links promoting an alleged scholarship program Claim: The Social Security System (SSS) posted an application link for its 2024 scholarship

This is AI generated summarization, which may have errors. For context, always refer to the full article.

FACT CHECK: SSS has no ongoing scholarship program
The Social Security System warns the public about fake posts bearing the agency’s logo that contain suspicious links promoting an alleged scholarship program

Claim: The Social Security System (SSS) posted an application link for its 2024 scholarship program offering elementary, high school, and college students allowances of up to P10,000. 

Rating: FALSE

Why we fact-checked this: The claim was uploaded on the Facebook page “Philippine Scholar,” which has been previously fact-checked by Rappler for disseminating false information on student aid supposedly from government agencies. 

The post claims that the 2024 SSS scholarship program offers P4,000 for elementary students, P6,000 for junior high school students, P8,000 for senior high school students, and P10,000 for college students.

The post also included a link to an unverified website where applicants are asked to provide their personal information such as name, email, and phone number. 

While the post was dated January 17, it continues to receive comments and engagements from Facebook users inquiring about the program. As of writing, the post has received 76 reactions, 224 comments, and 12 shares. 

Additionally, the website for the supposed application is still actively posting unverified scholarship programs from various public officials and agencies.

The facts: SSS does not offer the alleged scholarship program, the state-owned social insurance agency said in an advisory on January 18. 

Walang ongoing scholarship program ang Social Security System para sa mga miyembro at benepisyaryo nito, o maging sa publiko. Huwag maniwala sa mga balita, post o private messages sa social media na nag-aalok nito,” the advisory read.

(The Social Security System has no ongoing scholarship program for its members and beneficiaries, or even for the public. Do not believe the news, posts, or private messages on social media that offer this.)

SSS also warned the public that these misleading posts are likely schemes that may put their personal data at risk.

For SSS-related concerns, the public is advised to direct their inquiries to the official SSS channels or through their verified support ticket system, the uSSSap Tayo Portal.

Educational assistance: What SSS offers is the Educational Assistance Loan Program (EALP), a short-term member loan program for eligible SSS member-borrowers intended to defray educational expenses for undergraduate degrees and technical or vocational courses.

According to the EALP application form on the SSS website, the maximum loanable amount is P20,000 per academic term, or a maximum allocation of P160,000 and P200,000 in full allocation for four and five-year degree programs, respectively. 

Meanwhile, qualified member-borrowers may apply for a maximum amount of between P40,000 and P60,000 for vocational or technical courses.

The loan program is funded by both the national government and SSS. To apply, individuals must submit an accomplished EALP application form and supporting documents to the nearest SSS office.

Debunked: Rappler has published several fact-checks about fake scholarship programs allegedly from government agencies:

  • FACT CHECK: DepEd doesn’t offer up to P10,000 scholarship via online forms
  • FACT CHECK: Link for CHED-UniFast scholarship is fake
  • FACT CHECK: DOLE-NLRC has no scholarship program

Official accounts: For official updates on the programs and services of SSS, refer to its official website, X (formerly Twitter), Facebook, Instagram, TikTok, and YouTube accounts.  – Larry Chavez/Rappler.com

Larry Chavez is a graduate of Rappler’s fact-checking mentorship program. This fact check was reviewed by a member of Rappler’s research team and a senior editor. Learn more about Rappler’s fact-checking mentorship program here.

Keep us aware of suspicious Facebook pages, groups, accounts, websites, articles, or photos in your network by contacting us at factcheck@rappler.com. Let us battle disinformation one Fact Check at a time.

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Internet Security

Oregon passes bill to establish legal control standards for digital assets

Key Takeaways Oregon passed Senate Bill 167 to update commercial laws and include digital assets in the UCC. The new law allows digital assets to be used as collateral and recognizes electronic records and signatures. Share this article Oregon has enacted Senate Bill 167, updating the state’s commercial laws to incorporate digital assets into the

Key Takeaways

  • Oregon passed Senate Bill 167 to update commercial laws and include digital assets in the UCC.
  • The new law allows digital assets to be used as collateral and recognizes electronic records and signatures.

Share this article

Oregon has enacted Senate Bill 167, updating the state’s commercial laws to incorporate digital assets into the Uniform Commercial Code (UCC).

The legislation, signed by Governor Tina Kotek on May 7, introduces UCC Article 12, which creates a legal framework for digital assets including crypto assets, tokenized records, and electronic money.

The bill amends Article 9 to allow digital assets to be used as collateral in secured transactions. It also updates several UCC articles to recognize electronic records, signatures, and hybrid transactions to support digital commerce.

The new law includes transitional provisions that maintain the validity of transactions made before the act’s effective date and provides a one-year period for existing security interests to comply with the new regulations.

Before these changes, there was legal uncertainty about how digital assets fit into existing commercial laws, especially when used as collateral or transferred between parties. The UCC amendments clarify how rights in these assets can be legally controlled, perfected, and enforced.

Apart from SB 167, House Bill 2071 is another crypto-related bill introduced in Oregon.

This proposed legislation focuses on blockchain and digital asset rights. It is aimed at protecting and promoting the use of Bitcoin and other digital assets in the state by limiting regulatory barriers and clarifying the legal framework for blockchain-based activities.

Some of the highlights of the bill include a prohibition on state and local governments from restricting or impairing a person’s ability to accept digital assets as payment for lawful goods and services, as well as the right to conduct peer-to-peer transactions via blockchain or digital asset networks.

The bill is still in the early stages of the legislative process and has not yet advanced to a vote in either the House or the Senate.

Unlike most US states, Oregon lawmakers have not proposed any bill to create a state Bitcoin reserve as of now.

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Internet Security

White House rejects parts of Trump advisers’ sovereign wealth fund proposal

Key Takeaways The White House has rejected parts of a sovereign wealth fund proposal created by Trump’s advisers. The details of the sovereign wealth fund are still under debate with no final decisions announced yet. Share this article The White House has opposed certain elements of a sovereign wealth fund proposal developed by Treasury Secretary

Key Takeaways

  • The White House has rejected parts of a sovereign wealth fund proposal created by Trump’s advisers.
  • The details of the sovereign wealth fund are still under debate with no final decisions announced yet.

Share this article

The White House has opposed certain elements of a sovereign wealth fund proposal developed by Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick at President Trump’s request, according to a new report from CBS News.

The plan, reportedly delivered by early May, follows Trump’s February executive order directing the Treasury and Commerce departments to develop a framework for a US sovereign wealth fund within 90 days.

The order fueled speculation that the fund might be used to acquire Bitcoin on behalf of the US government.

However, at the time, Bessent and Lutnick said that the fund would indeed focus on warrants, equity, and other non-crypto investments. Still, David Sacks, Trump’s crypto czar, indicated that Bitcoin could be included in the fund’s portfolio.

That no longer appears to be the case after Trump signed a separate executive order establishing a strategic Bitcoin reserve and a digital asset stockpile on March 6, which suggests a standalone approach to crypto holdings.

There were also rumors that the fund might be financed through tariffs and other revenue sources despite ongoing budget deficits. But Lutnick later clarified that tariffs would not be used to support the sovereign wealth fund.

According to the CBS News report, White House spokesperson Kush Desai said the Treasury and Commerce Departments have developed plans in response to Trump’s directive, but no final decisions have been made.

The administration, Desai added, continues to view the initiative as part of its broader effort to safeguard national and economic security.

Details of the fund’s structure and purpose remain under discussion, with no formal announcement expected in the near term.

Sources say Trump has not yet decided how the fund’s proceeds would be used, though he has previously floated the idea of it taking a stake in TikTok, which faces a potential US ban unless ByteDance divests.

Regarding the US Strategic Bitcoin Reserve and the Digital Asset Stockpile, Bessent and Lutnick are also tasked with outlining operational guidelines, custody frameworks, and acquisition strategies. These plans are expected to remain separate from the sovereign wealth fund initiative and are designed to be budget-neutral.

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Crypto Security Breach at Lido DAO Triggers Governance Response

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TLDR Lido DAO started an emergency vote to rotate a compromised Chorus One oracle The exploit drained ETH balance and likely resulted from a hot wallet private key leak The issue is restricted to one oracle and is not system-wide Cybersecurity remains a critical issue for cryptocurrency and DeFi Over $2 billion in crypto was […]
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CZ Shares Security Warning After Ledger Discord Hack Exposes User Data

Changpeng Zhao (CZ), founder and former CEO of Binance, shared a security warning after receiving a message regarding a hack of Ledger’s Discord admin account, where a scammer falsely claimed a security flaw and urged users to enter their recovery phrases on a phishing site. Zhao highlighted two critical lessons: the necessity of never sharing

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