Because of low enrollment amid the pandemic, STI Education Services Group has decided to cease operations of 12 schools that belong to its private school network.
The affected schools, which are a mix of company-owned and franchise-owned schools, are the following:
- STI Cebu
- STI College Bohol
- STI College Dipolog
- STI College Parañaque
- STI College Pasay
- STI College Recto
- STI College San Francisco
- STI Iloilo
- STI Pagadian
- STI Quezon Ave.
- STI Tuguegarao
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Rental costs and low viability caused by low enrollment turnout are among the reasons behind the suspension of these schools for the school year 2020-2021.
In its disclosure to the Philippine Stock Exchange, the company claims the shutdowns will not have significant financial impact due to savings on costs and because affected students will be transferred to other, still-operational STI schools.
As of 2019, a total of 76 schools, evenly split between franchised and company-owned schools, belong to the STI ESG network.