Republic of the Philippine 
SENATE OF THE PHILIPPINES 
Pasay City 
SIXTEENTH CONGRESS 
First Regular Session 
Senate Bil(N~. 
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INTRODUCED BY SENATOR JUAN EDGARDO "SONNY" M. ANGARA 
EXPLANATORY NOTE 
Despite the National Government's mandate to rnake education accessible to all 
Filipinos, the reality is that many irnpoverished Filipino families remain unable to sehd 
their children to school and afford them a proper college education. 
Even with the government's numerous student financial assistance programs, a recent 
study commissioned by the Commission on Higher Education (CHED) on the different 
assistance programs being implemented revealed that the student financial assistance 
programs (STUFAPS) are meagre and fragmented. The study showed that STUFAPs 
have assisted only around 60,000 students in 2011 or about 2% of approximately 2.7 
million students. National government spending on STUFA.Ps mostly goes to basi~ 
education, accounting for about 62 % of the budget and only 23 % and 15% go to 
higher education and technical-vocational education, respectively. Moreover, the study 
uncovered that these STUFAPs are increasingly being enjoyed by student beneficiaries 
from higher income families, therefore defeating the purpCle of STUFAPs to assist 
students who are in fact in dire need of financial assistance. 
The study further showed that the reason behind low college students enrollment and 
completion rates among the poor and near poor is due to thLir incapacity to pay for the 
initial entrance fees and expenses required by higher edl cation institutions (HEls), 
therefore stifling these students' opportunity to even begin their higher education career. 
Hence, the thrust now of the government is to not only to improve the capacity of the 
government to assist students from low-income families in the completion of their 
education, but more importantly, to improve its efficiency, and effectiveness and to 
ensure its equitable distribution and sustainability. 
This UNIFAST bill, which covers scholarships, grants and stUdent loans, aims to 
strengthen, harmonize and refocus the existing STUFAPS and to rationalize the 
allocation, utilization and clientele-targeting of all public resources expended by national 
government agencies to promote and maintain a harmonized and coherent national and 
regional human capital development programs; improve equif{ and facilitate democratic 
access to quality education given persistent income poverty arid inequity. 
In line with this policy, Grants-in-Aid will be established for students belonging to 
marginalized sectors, taking into account the special needs and circumstances of 
certain disadvantaged groups, particularly those students whose families are 
beneficiaries of the government's Conditional Cash Transfer Program. 
It also ensures regional equity in the distribution of student financial assistance slots; 
and provide effective solutions to the liquidity issues facing students who are unable to 
borrow from regular lending institutions and are thus prevented from pursuing or 
completing courses of study, through the institutionalization of a self-sustaining National 


Student Loan Program which shall provide qualified students short-term and long-term 
financial assistance for tertiary education. 
Likewise, the measure seeks to provide adequate funding and such other mechanisms 
to increase the number of poor but academically able and highly motivated students to 
successfully pursue and complete higher and technical education programs in quality 
institutions while at the same time promote equity and rationalized access to high 
quality tertiary education among the poor, and those facing temporary household 
liquidity constraints and capital market failure. 
In view of the foregoing reasons, immediate approval of this measure is eamestly 
sought. 
""7 
/ 
JUANED~jR~~ONNY" M. ANGARA 
Senator 


SIXTEENTH CONGRESS OF THE 
REPUBLIC OF THE PHILIPPINES 
First Regular Session 
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S. B.No. 
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Introduced by Honorable JUAN EDGARDO "SON'N" M. ANGARA 
AN ACT PROVIDING FOR A COMPREHENSIVE AND UNIFIED SYSTEM OF 
STUDENT FINANCIAL ASSISTANCE FOR HIGHER AND TECHNICAL EDUCATION, 
THEREBY RATIONALIZING ACCESS, APPROPRIATING FUNDS THEREFOR AND 
FOR OTHER PURPOSES 
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SECTION 1. Short Title - This Act shall be knowl; as the Unified Student 
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Financial Assistance System for Higher and Technical E'Jcation Act. 
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SEC. 2. Declaration of Policy - It is the deelared policy of the State to provide 
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all its citizens access to quality education, accelerate soc:al progress and promote 
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human liberation and development. Towards this end, the St~te shall provide adequate 
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funding and such other mechanisms to increase the numbe, of poor but academically 
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able and highly motivated students to successfully pursue ~~nd complete higher and 
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technical education programs in quality institutions, thereb\ promoting equitable and 
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rationalized access by poor Filipinos to high quality higher anI' technical education. 
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For these reasons, the existing national government ,.rograms for scholarships, 
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grants-in-aid and loans for higher and technical educatio, I are hereby unified and 
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harmonized to improve their efficiency and to ensure that de;;erving Filipinos are given 
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equitable access to educational opportunities. 
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SEC. 3. Objectives - The objectives of this Act are as ;'ollow~: 
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a) To rationalize the allocation, utilization and client, de-targeting of all public 
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resources expended by national government agencie:, in order to promote and 
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maintain harmonized and coherent national and regional human capital 
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development programs; 
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b) To promote academic excellence among higher and tec:hnical education students 
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regardless of economic status, and ensure consistel1';y, continuity and efficient 
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coordination of student financial assistance policies an programs; 
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c) To directly channel public resources to students in 
rder to provide them the 
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freedom of informed choices of programs and in titutions, while providing 
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incentives to promote certain priority programs, i 'Ieluding undersubscribed 
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programs, as adopted by the Board created under this i),ct; 
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d) To promote equitable and democratic access to qW'rlity education as a social 
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justice measure to counter poverty and income inequa;lly among Filipino families~ 
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by, among others, establishing a government grants-i' -aid program for students 
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from the marginalized sectors of Philippine society taking into account the 
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special needs and the circumstances of certain disadv·ntaged groups; 
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e) To ensure regional equity in the distribution of student inancial assistance slots; 
f) 
To establish a unified, improved, and expanded sch:)larship program that will 
create an environment conducive for bright and tak('1ted students developing 
their full potential and participating in public servrf:e, encourage academic 
excellence among highly capable students, motivate gi,fted youth to fully develop 
their talents, and enlarge the pool of world class Fil'pino researchers, artists, 
creative innovators, thinkers and leaders; and 
g) To institutionalize a self-sustaining National Studeri! Loan Program that will 
provide short- and long-term financial assistance to qlr~lified students for tertiary 
education, in order that such students will no longer bi:', prevented from pursuing 
their dream of higher education because they face liqudity issues and are unable' 
to obtain tuition loans from regular lending institutions. 
SEC. 4. Definition of Terms - For purposes of this ACt: 
1) "Average Cost of Tettiary Education" refers to the tuif';Jn fees and other related 
fees in private schools, and in the case of SUCs, the ;ost per student, plus the 
cost of living allowance and other incidental expenses; 
2) "Blend' refers to a combination of the ab.ove modalities of student assistance such 
as GIA and student loan, depending on the needs oj the student applicant, as 
determined by the Board; 
3) "Board' refers to the Unified Student Financial Assistarj;~e System for Higher and 
Technical Education (UniFAST) Board, which is the body responsible for the 
review of existing government policies and the prorf;ulgation of the minimum 
guidelines on student financial assistance programs, i', well as the coordination 
and provision of support to implementing agencies in f':;nd allocation, formulation, 
approval and implementation of national government s~'jdent financial assistance, 
policies and strategies for higher education and progra!IS offered or administered 
by national government agencies; 
4) "Board-Registered Programs and Institutions" refers t6 -quality-assured programs 
and higher and technical education institutions which ,lave been certified by the 
Commission on Higher Education (CHED) and the Tecilnical Education and Skills 
Development Authority (TESDA) as complying with acc,'ptable standards; 
5) "Educational Expenses" refers to expenses related to l'le education of a student, 
such as books, subsistence and board and lodging, but excluding tuition and 
miscellaneous and other school fees; 
6) "GIA Beneficiary" refers to a student recipient of grant-il'·aid; 
7) "Grantee" refers to the recipient of any of the three 'rlodalities of the UniFAS, 
namely, scholarship, grant-in-aid and loan; 
8) "Grants-in-Aid (or GIA)" refers to a modality of free finar':cial assistance to poor but 
eligible students which generally requires a minimum I( lei of competence but not 
excellence; 
9) "Higher Education" refers to the stage of formal ed'Jcation, or its equivalent, 
requiring completion of secondary education and cc'ering programs of study 
leading to bachelor and advanced degrees; 


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10) "Higher Education Institution (or HE!)" refers to an inr1itution of higher learning, 
primarily offering degree programs; 
11) "Honorific Scholarship" refers to a special recognition g;'I'en to a deserving student 
in terms of intellectual merit and special abilities, who is 410t exempted from paying 
tuition and other fees, and for purposes of this Act, is r.)t included under the term 
"Scholarship" as defined in Section 4 (3); 
12) "Local Universities and Colleges (or LUCs)" refers to p·iblic education institutions 
established by local government units through an enabling ordinance, and 
financially supported and maintained by the concerned )e)cal government; 
13) "Long-Term Student Loans" refers to loans that are I)ayable after the student 
borrowers have completed their tertiary education with'·n a period of at least ten 
(10) years; 
14) "Miscellaneous and Other School Fees" refers to tho::8 fees which cover other 
necessary costs supportive of instruction, including, but 'lot limited to, medical and 
dental, athletic, library and laboratory fees; 
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15) "National Government Agency" refers to any of the v{;:'ious units of the national 
government, 
including 
a department, 
bureau, 
o'fice, 
instrumentality, 
or 
government-owned or controlled corporations, that eitrnr administers or finances 
the various modalities of student financial assistance; 
16) "Parent' or "Guardian" refers to the, head of the fami:;t, foster home, or similar 
institutions who exercises custody or parental authority: ,ver the student; 
17) "Qualifying Examination System for Scoring Students' refers to the appropriate 
annual examination and assessment of potentials,separately designed for 
undergraduate and graduate students to be developeci by the Board in harmonY' 
with the national exit examination of the K to 12 and iidministered on a national 
scale for all prospective applicants to all modalities of s,(udent financial assistance 
for tertiary education; 
18) "Rationalized Access" refers to improved efficiency il:.the implementation of a 
comprehensive and unified student financial assist::'i]ce program for tertiary 
education pursuant to the principles of increased partid).lation of the economically 
disadvantaged and marginalized sectors; equity in t~e regional distribution of 
economic resources; congruence of the qualificatil.:lis of tertiary education 
graduates and labor market needs; and relevance i:o the country's national 
development and global competitiveness, among othen 
19) "Registry of Programs and Institutions" refers to the ;~\lgistry of institutions alld 
programs to be created by the Board for institutions ai,l) programs that have met 
the quality standards as certified by the CHED and TEt:·')A; 
20) "Scholar" refers to a student recipient of a scholarship giant; 
21) "Scholarship" refers to a modality of free financial ass::ltance given to deserving, 
students on the basis of merit, such as laudabh\· academic performance, 
exemplary talent, special technical proficiencies and skis, Scholarship also refers 
to the intellectual pursuits of a scholar that give rise to .' ,search and development 
and innovations as well as other creative works; 


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22) "Short-Term Student Loans" refers to loans payable 0' a semestral or trimestral 
basis; 
23) "Special Public Higher Education Institutions (or SPHEis)" refers to a category of 
public organizations offering higher education prograrr'~, related to public service 
in pursuance with the basic mandate of their parent c\)encies and are operated 
and controlled in accordance with special laws; ;they provide specialized 
academic, research and technical assistance program'?, such as public/business 
management, intemal security, military science an,] national defense, e.g. 
Philippine Military Academy (PMA), Philippine Nationa: Police Academy (PNPA), 
and Development Academy of the Philippines; 
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24) "Special Private Higher Education Institutes (or SPrHE,:i>)" refers to a unique type 
of Philippine higher education institutions offering a sin~ile or group of specialized 
graduate degree programs created by/for special intere' ,t/professional groups; 
25) "Special Purpose Education Assistance" refers to fir '!;Incial assistance for the 
conduct of undergraduate and graduate research, s'"iientific studies, including 
funding assistance for the writing and publication of br ·oks, manuscripts, theses, 
dissertations, scientific and technical journals, or for prc\:juction, filming and digital 
technology documentation of research and studies or d;'velopment of instructional 
and academic materials, and science prototypes, amon,,; others; 
26) "State Universities and CoJleges (SUCs)" refers to public HEls with independent 
and separate governing boards established by national laws which constitute their 
individual charters, and financed and maintained by the llational government; 
27)" Student Loan" refers to a modality of student financi.':iI assistance where short-
term or long-term loans are provided to finance the ter~iary education of students 
facing liquidity problems, regardless of economic statu{ These loans are debts to' 
be paid by the student, his/her parents, guardians, or c(·makers; 
28)" Student-Borrower" refers to a student beneficiary ofle Natjonal Student Loan 
Program; 
29) "Technical EducationlTechnical-Vocational Education and Training (or TVET)" 
refers to the education or training process which invol:1es, in ·addition to general 
education, the study of technical and related fields and ':he acquisition of practical 
skills relating to occupations in various sectors, con~'prising formal (organized 
programs as part of the school systems) and non-' lrmal (organized classes 
outside the school system) approaches; 
30) "Tertiary Education" refers to the stage of educatio('{ following the secondary 
cycle, and includes higher education programs, pr.:st-secondary non-degree 
programs, and vocational-technical education and traini'rg proglams; 
31) "UniFAST Trust Funds" refers to the Unified Studen', Financial Assistance for 
Higher and TechnicalEducation (UniFAST) cross-sub~'\'dy benefit trust funds for 
Student Loans ("Loan Fund") and the Grants-in-Aid,:and Scholarships ("GIAS. 
Fund") created under this Act, which shall be the depository of all funds 
appropriated for scholarships from the General Appr"rpriations Act (GAA) and 
receipts from private grants and donations for\cholarship programs of 
government agencies and instrumentalities covered ,by this Act, as well as 
earnings from investments of these monies, all of ,':hich shall collectively be 
accounted for, distinct and separate from the 
"~gular accounts of the 
implementing agencies and instrumentalities 


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32) "Unified Student Financial Assistance System for High/~ and Technical Education 
(or UniFAST)" refers to the harmonized, state-run ai/I administered system of 
higher education and technical-vocational scholarsh:l, grant-in-aid and loan 
programs under this Act; and 
33) "Unif' refers to a prescribed standard of measure of colW,ge work usually based on 
the hours of academic instruction. 
SEC. 5. Scope and Coverage of the UniFAST - ';here shall be instituted rJ 
unified stUdent financial assistance system, which shall 1;'6 known as the Unified 
Student Financial Assistance System for Higher and TechnJ~al Education (UniFAST), 
and which shall have as integral components all existing fim:hcial assistance programs 
for higher and technical education students in both publ,;; and private institutions, 
including national scholarships, grants-in-aid, special purp:se or sector educational 
assistance, student loans, and government programs i'; partnership with other 
stakeholders, among others, and which are nationally fundlt.d and/or implemented by 
national government agencies, branches and instrumentalitie:t 
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legislated student financial assistance program!.', pertaining to higher and 
technical education shall be integrated into the UniFAST, in ,1uding (i) programs under 
the Expanded Government Assistance for Students and Tea'ihers in Private Education 
(E-GASTPE Law) or Republic Act No. 6728, as amended by :<epublic Act No. 8545, (ii) 
the Private Education Student Financial Assistance (PESF: ,) program, (iii) the State 
Scholarship Program under Republic Act No. 4090, as c"nended, and (iv) current 
assistance programs and projects created pursuant to pert:lent provisions of special 
laws for specific sectors or special beneficiaries. 
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The UniFAST shall harmonize, reform, strengthen, e"pand, rationalize, and re-
focus all ongoing stUdent financial assistance programs of I':e government for greatep 
efficiency, coherence, synchronization, effective funding aiid improved coordination 
among implementing entities in their specific jurisdiction: Pnliided, That there shall be 
implementation status quo of effective programs implemer,':ed by other government 
agencies. 
Notwithstanding this provision, the implementing ageni'iies are required to submit 
reports, make their selection process transparent to the p')Jlic, and comply with the. 
minimum requirements that the Board may impose to ensure'!hat these programs are in 
line with the national policy framework on student financial 8;isistance. Furthermore, all 
applicants of tertiary student assistance programs funded b'2 the national government 
shall be required to pass the Qualifying Examination SystelJ for Scoring Students, to 
ensure that they have the capability to learn and gain from'ertiary education. For the 
same reason, all selected beneficiaries shall be requirec to enrol only in tertiary 
education programs and institutions included in the Registry. '. 
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SEC. 6. Creation of a UniFAST Board - To carry 0\' the purposes of this Act, 
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there is hereby created a Unified Student Financial Assistani;e System for Higher and 
Technical Education (UniFAST) Board, hereinafter referred te as the Board, which shall 
be attached to the Commission on Higher Education (CHED), ::onsisting of: 
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(1) the CHED Chairperson as ex-officio Chair; 
(2) the DOST Secretary as ex-officio Co-Chair; 
(3) the TESDA Director-General as ex-officio Co-CI :tir; 


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(4) a representative from the Department of Labor and Employment (DOLE) 
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as ex-officio member; 
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(5) a representative from the National Economic ,,' Id Development Authority 
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(NEDA) as ex-officio member; 
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(6) one representative each from (i) the Coorcii 'ating Council of Private 
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Educational Associations (COCO PEA), (ii) thE' Philippine Association of 
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State Universities and Colleges (PASUC), (iii:: the A,;sociation of Local 
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Colleges and Universities (ALCU), and (iv) ,the TlJchnical-Vocationa, 
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Schools Association of the Philippines (TEVS/')HIL), to be appointed by 
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the President of the Philippines, 
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SEC. 7. Powers and Functions of the Board -
" he Board shall have the 
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following powers and functions: 
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a) Formulate and approve the national government sT..fdent financial assistance 
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policies and strategies for higher and technical edu;::;.Ition, and review existing 
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policies to ensure consistency with policy framework u:der this Act; 
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b) Facilitate the inclusion of members of marginalized ~ ~ctors 3S grantees of the 
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financial assistance program to widen access to qUF' ity tertiary education and 
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allow them to meaningfully participate in governan;'e and promote inclusive 
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leadership; 
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c) Provide technical and financial assistance 
and c':--er forms of support to 
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implementing agencies with proven effective progra"' s to ensure the effective 
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implementation of this Act; 
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d) Coordinate with the implementing agencies of st,:;'~lent financial assistance' 
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programs in the formulation, approval and issuance'f guidE'lines towards the 
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development and promotion of a comprehenSive, (:lified "ystem on student 
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financial 
assistance 
to 
guide all government ('[Jencie.';, 
branches 
and 
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instrumentalities which administer student financial assistance programs for 
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higher and technical education, including the approvai()f this /.\ct's implementing 
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rules and regulations, consistent with the governme: It's nalional development 
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framework; 
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e) Prepare, approve and submit to the Department of· budget and Management 
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(DBM) 
its own coherent budget proposal for studEfrit financial assistance, in 
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addition to the individual budget proposals of the varia.)" implementing agencies, 
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including vetting and integrating all requests for pul"lc funding of higher and 
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technical education student assistance programs; 
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f) Provide general guidelines for the drawing up of i'liltracts with the student 
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beneficiaries specifying the rights and obligations of tl'.;(; parties, that may include 
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a service clause or such other stipulations of cost rec("l,rery the Board may deem 
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in the best interest of the public and consistent with':or responsive to national 
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social, economic and human resources development F::,II1S ; 
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g) Ensure faithful implementation of the policies and stl:~tegies:Jf the UniFAST by 
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its technical staff and partner agencies, including mr nitorin~J, assessment and 
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impact evaluation of student financial assistance prog';':ms and projects; 
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h) Design and implement a Qualifying Examination Syskrn for E'coring Students in 
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harmony with the national exit examination of the K r', 12, or its equivalent, 
in 
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harmony with the national exit ,examination of the K io 12, and based on this 
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system and other complementary criteria the Board IlI.,Y impose and formulate'a 
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transparent quantitative scheme for scoring, ranking a:ld selecting applicants for 
scholarships, Grants-In-Aid, and student loans; 
i) 
Promulgate the minimum guidelines, rules and re'lulations for determining 
qualified beneficiaries of student financial assistancE for higher and technical 
education; 
j) 
Provide and promote a supportive policy environr<ent for the growth and 
development of private sector participation for loan proi~rams; 
k) Ensure that beneficiaries are able to maximize the lenefits from UniFAST by 
providing them data for informed decision-making anc~ allowing them freedom of 
choice among accredited public and private tertiary education programs and 
institutions; 
I) 
Formulate, approve and issue guidelines toward,; the development and 
promotion of a comprehensive, unified student finan',;ial assistance system to 
guide all government agencies, branches and instrum mtalities which administer 
student financial assistance programs for higherimd technical education, 
including the approval of this Act's implementing rulesi'nd regulations, consistent 
with the government's national development framewor!;: 
m) Primarily manage, administer, and supervise the Uni!' i\ST Trust Funds created 
under this Act, including the allocation and disbursement of funds to implement 
the program; 
n) Develop and promote a system of individual savingi accounts for higher and 
technical education; 
0) Design and implement a program of generating fun'is for the UniFAST Trust 
Funds; 
p) Enter into agreements with private entities and finan~':ial institutions to promote 
the funding and delivery of student loans, consistent w;":h the policy framework as 
determined by the Board; 
q) Develop an efficient tracking system of Student-Borrc:;vers, as well as a system 
of disbursement and collection of payments of loar;"'; granted under this Act, 
including but not limited to entering into agreements '~Jith the Bureau of Internal 
Revenue (BIR), Government Service Insurance Sy,tem (GSIS), the Social 
Security System (SSS), National Bureau of Investigati<,:lS, Department of Foreign 
Affairs (DFA), Philippine Overseas Employment Adm.'listration (POEA), Bureau 
of Immigration (BI), Bangko Sentra/ ng Pilipinas (BSI'), Bankers Association of 
the Philippines (BAP), Credit Information Corporation " private and public banks 
and banking intermediaries, credit information burea"s, and other government 
financial institutions, inclusive of investigating and ch:'cking the whereabouts of 
delinquent Student-Borrowers, and setting up medmisms for blacklisting of 
defaulting Student-Borrowers in application for loan", credit cards, and other 
credit facilities; 
r) Receive donations, legacies, gifts and other forms i',;f contribution, whether in 
cash or in kind, from both public and private source;'., here and abroad, which 
shall accrue to the UniFAST Trust Funds created unc.',r this Act, and to receive 
and utilize the services and assistance of expe"::s: Provided, That such 
donations, legacies and contributions shall be exempl:rom taxation and shall be 
allowable deductions for income tax purposes in accor".'ance with Section 34-H or 
the Tax Code of 1997, as amended; 


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s) Appoint an Investment Manager of proven compete:nce and integrity for the 
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Investment Portfolio of the UniFAST Trust Fund:';, should it be deemed 
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necessary; Provided that such appointment should nr:,t exceed three (3) years, 
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and subject to performance review prior to renewal; 
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t) Set up, maintain and update an official Registry of quality-assured academic and 
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research program and tertiary education institutions in '~ccordance with Sec. 3 of 
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this Act; and 
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u) Perform such other powers and functions as may b'~, deemed necessary and 
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incidental for the effective implementation of this Act. 
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SEC. 8. Term of Office - The members of the Boa¥d to be appointed by the' 
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President of the Philippines shall have a term of office flf two (2) years, without 
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reappointment. In case of resignation, removal, death or ,iisability, the replacement 
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member shall merely serve the unexpired term of office arid shall not be eligible for 
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reappointment. 
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SEC. 9. Meetings. The Board shall meet every monti'l. The Chair of the Board 
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may call special meetings when necessary: Provided, That tLd members will be notified 
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in writing at least three (3) working days prior to said meeting The presiding officer shall 
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be the Chair of the Board, or in his absence, one of the Co-CI airs. 
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At least once every quarter, the Board shall reviev the performance of the 
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UniFAST Trust Funds in terms of the following: 
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(1) Total number of current beneficiaries; 
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(2) Number of dropouts, voluntary or revoked; 
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(3) Average academic performance by year of study; , 
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(4) Breakdown of Grantees by field of study; 
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(5) by district and region of origin; 
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(6) Breakdown of Grantees by place of study; 
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(7) Breakdown of Grantees by gender; 
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(8) Breakdown of Grantees by size of annual fe,mily income and family 
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livelihood; 
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(9) Total amount of funds received; 
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(10) Total repayments made; and 
, 
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(11) Current cash positions as against cash requireme':;ts for the quarter. 
37 
38 
SEC. 10. Quorum - The attendance of a majority !·)f the Board members is 
39 
necessary in order for the Board to have a quorum to transac!' business. 
40 
41 
SEC. 11. Creation of a UniFAST Secretariat -
T'lere is hereby created a 
42 
Secretariat to be headed by an Executive Director to supportthe Board in carrying out 
43 
its functions. The Board shall provide for the institutional :,et-up, qualifications and 
44 
compensation of employees composing the Secretariat in acr',brdance with existing Civil 
45 
Service and Career Executive Service rules and regulatior'; and consistent with the 
46 
provision of the Salary Standardization Law for government personnel, and determine 
47 
the size and composition of the Secretariat. 
48 
49 
The Secretariat shall exercise the following functions: , 
50 
51 
a) Provide technical and administrative support serv:":es to the Board's policy-
52 
making and implementation functions; 
, 
53 
8 


1 
b) Review, evaluate, and assess programs, plans of ,"wtion and agenda of the 
2 
Board, and concomitantly recommend the approvil or cancellation of such 
3 
programs, plans of action and agenda of the Board 
4 
5 
c) Review, evaluate, and assess programs, plans of action and agenda of the 
6 
implementing agencies, including proposals for fur',;:ling, and recommend the 
7 
approval or cancellation of such programs, plans cl action and agenda of the 
8 
implementing agencies to the Board; 
9 
10 
d) Maintain and update a repository of data and L'lformation on all student 
11 
financial assistance programs for tertiary educa~!on administered by any 
12 
government agency, branch or instrumentality; TI;e Secretariat shall create' 
13 
and maintain a comprehensive database system 0': the government's student 
14 
financial assistance programs accessible to the pLi"lic, pursuant to the policy 
15 
of transparency and good governance; 
16 
17 
e) Recommend, manage and monitor the process(s of contracting out the 
18 
implementation of UniFAST activities which woulci be best accomplished by 
19 
third party providers, as approved by the Board; ar' j 
20 
21 
f) Perform such other powers and functions as m ejy be determined by the 
22 
Board, 
23 
24 
SEC. 12. The Executive Director - There shall be ,;n Executive Director who 
25 
shall be appointed by the Board and shall have the rank of ail Assistant Secretary, and 
26 
shall hold office for a fixed term of three (3) years, renew'c'ble for another three (3) 
27 
years, based on the Board's assessment of his performan.~e The Executive Director 
28 
shall have a minimum of seven (7) years managerial experiefice, be a holder of at least 
29 
a Master's degree conferred by a reputable education ;::'stitution, and be Career 
30 
Executive Service Officer (CESO) eligible. The Executive 1')irector shall perform the 
31 
following functions: 
32 
33 
a) Serve as the primary coordinator of publicly funded student financial 
34 
assistance programs for tertiary education studeiits being implemented by 
35 
various government agencies, branches and instrullientalities; 
36 
37 
b) Manage relationships with partner agencies; 
38 
39 
c) Exercise leadership, supervisory, and administi ·~tive functions over the 
40 
Secretariat; 
41 
42 
d) Ensure the provision of accurate and timely techni' al inputs and feedback to 
43 
the Board to guide it in its policy-making functions; , 
44 
45 
e) Ensure the proper dissemination and implementatk"l of Board decisions; 
46 
47 
48 
49 
50 
51 
52 
53 
54 
55 
56 
f) Submit an annual report on the operations, statu~': of programs funded, and 
financial conditions of the Secretariat, including ,'ecommendations for the 
budget in the ensuing year; 
g) Perform such other duties and functions as may r;,~ delegated to him/her b'/ 
the Board; 
SEC. 13. Creation of the Stakeholders Accourj:;'~bility Committee -
To 
ensure transparency and accountability, and institutionalize >onsultations with relevant 
sectors concerned, there is hereby created a Stakeholders Accountability Committee 
9 


1 
(SAC) composed of representatives from parents' organizat>ms, students' groups, the 
2 
youth sector, teachers and educators' groups, HEls and TVlf ' and industry, which shall 
3 
be convened at least once a year by the Board, 
4 
5 
6 
7 
8 
9 
10 
11 
12 
13 
14 
15 
16 
17 
18 
19 
20 
21 
22 
23 
24 
The SAC shall be empowered to inquire into the bC\'lks of accounts, financial 
statements, policy statements, issuances and other docum6';',ts and information of the 
Board, subject to existing laws and'regulations, to protect ag:\inst misappropriation and 
mismanagement of the UniFAST trust funds, Minutes of all r"eetings shall be recorded 
and attested to by a simple majority of the SAC Members, 
SEC. 14. Creation of UniFAST Trust Funds 'y' To mitigate budgetary 
constraints, a mechanism shall be created to ensure the a(3i1ability of appropriations 
and cash to cover the release for UniFAST funds, To this el:i:lct, (i) the UniFAST Trust 
Fund for Student Loans, hereinafter referred to as the UniFA',>T Loan Fund, and (ii) the 
UniFAST Trust Fund for Grants-in-Aid and Scholarships, he:';!inafter referred to as the 
UniFAST GIAS Fund, shall be created under the power and s;,'pervision of the Board. 
The existing funds and regular appropriations of ,,!i3ch government agency, 
branch or instrumentality which implements a student financi,;; assistance program shall 
automatically form part of the UniFAST GIAS Fund. Each imr;lementing agency, branch 
or instrumentality shall manage and be accountable for its OW,l share of the funds which 
shall be clearly delineated as forming part of the UniFAST l' 'ust Funds, subject to th~ 
oversight and supervisory powers of and program standards h~3t by the Board. 
25 
The UniFAST GIAS Fund shall be created to address i.~sues arising from the lack 
26 
of synchronization between the fiscal year (January to Dec'imber) and the academic 
27 
year (June to May) and from other financial flow problems: The non-synchronization 
28 
causes a misalignment which in turn causes delayed paymei,t of benefits to Grantees, 
29 
leading to serious difficulties for very poor students. Earnin::;s of the Trust Fund shalr 
30 
accrue back to the Trust Fund and be deemed automatical"l appropriated, subject to 
31 
Board approval of its use. 
32 
33 
34 
35 
36 
37 
38 
39 
40 
41 
42 
43 
44 
45 
46 
47 
48 
49 
50 
51 
52 
53 
54 
55 
56 
All appropriations for the National Student Loan Pro(am and amounts derived 
from loan repayments of StUdent-Borrowers, which include,)ayment for the principal, 
interests. and penalties, donations and contributions earma,':ed for the program, shall 
accrue to the UniFAST Loan Fund. 
\~ 
SEC. 15. Planning and Budgeting the 
UniFA.~:,T Trust Funds -
The 
Department of Budget and Management (DBM) shall release (he funds appropriated for 
all three UniFASTS modalities in two tranches, half at the beginning of the second 
quarter and the balance at the beginning of the third quarter.of the fiscal year. These 
releases will be withdrawn in full and deposited into the Ul;'FAST .Trust Funds. The 
availability of the funds in the trust fund will give implement:~rs a more concrete basis 
for planning its use and sufficient time to firm up the financi'll plan associated with its 
usage. 
SEC. 16. Financial Management and Account~';;i/ity _. All public funds 
allocated to the government's student financial assistancEl',.programs for higher and, 
technical education shall be managed according to standad government accounting 
and auditing rules and regulations. In addition, specialized \;-rocesses and procedures 
shall be developed to enhance transparency and accountabr~!ty suitable to the program 
or project for which the fund has been provided. Erring of1f::ials and employees who 
mismanage or misappropriate UniFAST funds shall b'" subject to reprimand, 
suspension, dismissal from service, and other disciplinary sa,.l:;tions pursuant to existing 
rules and regulations of the Civil Service Commission and ot~~r pertinent laws. 
10 


1 
SEC. 17. Accounting and Reporting, UniFAST l:::'ust Fund -
A separate 
2 
books of account shall be kept in the implementing agency fe; the UniFAST Trust Fund. 
3 
It shall follow standard government rules and regulations for accounting of trust funds. 
4 
Implementing agencies of the trust fund, however, may ad(.~i)t additional measures to 
5 
insure its safety particularly in authorizing payments and pw·~essing of disbursements 
6 
from the fund. 
7 
8 
9 
10 
11 
12 
13 
14 
15 
16 
17 
18 
19 
20 
21 
22 
23 
24 
25 
26 
27 
28 
29 
30 
31 
32 
33 
34 
35 
36 
37 
38 
39 
40 
. 
. 
A mid-year and annual report shall be prepared by ,111 implementing agencies. 
The report shall have two parts, a financial statement 8nd a physical report of 
operations showing accomplishment of the fund. These ref'brts shall be submitted to 
Congress and the DBM to inform and aid in decision m.i,king and shall be made 
available to others for valid and acceptable reasons. 
. 
SEC. 18. Minimum Qualifications of Applicants - Fie Board shall promulgate 
and periodically review the qualification criteria for applicdlts for any of the three 
modalities of student financial assistance, 
subject to the following minimum 
qualifications: 
a) Filipino citizen; 
b) High School graduate or its equivalent from duly au'horized institutions; 
c) Obtained at least the score required by the :'Ioard for the Qualifying 
Examination System for Scoring Students; 
d) Good moral character with no criminal record; 
e) Admission to the technical and vocational institui:on, coilege, or university 
included in the Registry of Programs and Institution'c" of his/her choice; 
f) 
In the case of applicants in technical-vocational '~rograms, he/she shall, in 
" 
addition 
to 
the 
criteria 
referred 
abOVE. 
pass 
the 
TESDA 
screening/assessment procedure, trade test, or skilh competency evaluation; 
g) Must not be a recipient of another government finhncial assistance program 
of the full amount at the time of application or d;'lring the effectivity of the 
scholarship, GIA or loan grant; and 
h) Such other qualifications as may be prescribed by \';e Board. 
41 
Provided, that for grants-in-aid and scholarships, hiority shall be given to 
42 
stUdents whose families are beneficiaries of the goverr'inent's Conditional Cash 
43 
Transfer Program. 
44 
45 
46 
47 
48 
49 
50 
51 
52 
53 
54 
55 
56 
SEC. 19, Grants-tn-Aid - To improve equity and facilt'ate democratic access to 
quality education given persistent income poverty and ii,1?quity, Grants-In-Aid are, 
targeted for students belonging to poor families and margir:alized sectors, consistent 
with official definitions. The financial amount comprisillg Grants-In-Aid will be 
determined by the Board, provided that it shall cover at leastl"ne hundred (100) percent 
of the average cost of tertiary education in the top forty (4C( of the public and private 
universities listed in the Registry of Programs and Institutions 
The grant shall include an amount for basic living ex6"nses that will enable the 
Grantee to focus on completing his/her tertiary education.:che Board shall formulate 
and establish the poliCies and mechanisms for the identifica~on of (,rantees based on 
objective indicators derived from credible databases. 
11 


1 
" 
2 
SEC. 20. Scholarships -
A unified, improved, ani:1 expanded govemment-
3 
funded scholarship program shall be instituted to promote an ;'lnvironment conducive for 
. 
,. 
4 
the development of bnght and talented stUdents to serve thi. public good and enlarge 
5 
the pool of world class Filipino researchers, artists, creativ;' innovators, thinkers and 
6 
leaders. 
7 
8 
The financial amount for scholarships shall be detem11hed by the Board. It shall 
9 
cover at least 100 percent of the average cost of tertiary ed;rcation of the top ten (10) 
10 
public and private universities listed in the Registry of Progra;'!'s and Institutions. It shall 
11 
also include the average cost of books and other educationlfi.:materials required by the 
12 
program of study chosen by the scholarship recipient. Reci:,ients whose residence is 
13 
outside of the location of the chosen tertiary institution shall ;llso be entitled to a living 
14 
allowance. 
15 
16 
17 
SEC. 21. National Student Loan Program (NSLP) _.)o,s theoverarching policy-
18 
making body under this Bill, the Board shall develop <: long term plan for the 
19 
development of a self-sustaining National Student Loan PW'lram (NSLP), which shall 
20 
provide qualified stUdents short-term and long term finandal assistance for tertiary 
21 
education. This plan shall be based on a systematic evaluaf~'ln of and lessons leamed 
22 
from current and past student loan schemes, both local and ir; 'ernational. 
23 
24 
25 
26 
27 
28 
29 
30 
31 
32 
33 
34 
35 
36 
37 
38 
39 
40 
41 
42 
43 
44 
45 
46 
47 
48 
49 
50 
51 
52 
53 
54 
55 
56 
The development of the NSLP shall be based on th'~. professionalization of its 
management, the establishment of an appropriate organizational set-up and the 
institution of accountability mechanisms, sanctions and inc'mtives conducive for the' 
effective and efficient collection of loan repayments. 
SEC. 22. Student Loans -
Short and long-term stUdent loans shall address 
liquidity issues facing students who are unable to borrow at "?'asonable market interest 
rates and are prevented from pursuing or completing cC2!Jrses of study. Student-
Borrowers shall have at least the minimum level of prepar'~dness and proficiency to 
successfully complete a good quality tertiary education, as ;;etermined by their Yearly 
Examination System for Scoring Students results for incomir/J freshmen students, or in 
the case of non-freshmen the general weighted average (l',;WA) of 80 percent or its 
equivalent for at least the last two semesters enrolled in,.ln addition to such other 
criteria as may be determined by the Board to measure tt';'~ir capability to repay the 
loan. 
SEC. 23. Short-Term Student Lending (STL) Pr(c"7ram - The Board shall 
establish the STL program with a seed capital appropriatel from the UniFAST Loan 
Fund to encourage and enable tertiary education institutiom~ to strengthen, expand, or 
establish their own or institution-based STL programs to alle\~;'3te the short-term liquidity 
problems of students hereinafter, generally known as instit,'rtions-based student loan 
program. Higher education institutions may apply for fund', Ig to the 
STL relending. 
program of the UniFAST, subject to Board approval. 
The Board shall develop the STL Rules and Guideline';, (STL-RG) to ensure good 
governance, efficiency and equity in the use of UniFAST's f: rL funds. The Board shall 
formulate the guidelines on the imposition of interest rates. ;in the case of short-term 
student loans to secure the sustainability of the fund while aHhe sarfle time ensuring its 
affordability to students. 
; 
SEC. 24. Loanable Amount, Long-Term Loans - the Board shall determine 
the maximum amount that can be availed of by the Student·~\orrower to cover the cost 
of education. Educational loans under this Act shall cover tu'"ion and other school fees 
12 


1 
and may also cover related educational expenses, such as. but not limited to books, 
2 
subsistence, and board and lodging depending on the final;:cial need of the Student-
3 
Borrower: Provided, That student loans shall in no case e}';;eed seventy-five percent 
4 
(75%) of average cost of tertiary education in the top forty (4 ~n of the public and private 
5 
universities listed in the Registry of Programs and Institutil:ns: Provided further, that. 
6 
loans granted for payment of tuition and other school fees s'lall be paid directly to the 
7 
school concerned, 
8 
9 
SEC. 25. Delivery, Collection and Repayment Mecf';misms Student Loans -
10 
The Board shall develop an efficient delivery and collection s'!stem that is accessible to 
11 
its target clientele, It shall establish policies, instruments and"~ooperative arrangements 
12 
with concerned government and private entities for ensunilg efficient loan delivery, 
13 
collection and loan repayment, including collaboration wilY, the National Bureau of 
14 
Investigation, Bureau of Immigration, Bureau of Internal Re\;'3nue (BIR), Credit Rating 
15 
Agencies, and Government Financial Institutions like the Government Service Insurance 
16 
System (GSIS), Social Security System (SSS), Developmef';i: Bank of the Philippines, 
17 
and the Land Bank of the Philippines. 
18 
19 
The GSIS and SSS are hereby mandated to establi!i'1 an automatic system of 
20 
salary deduction for student loan repayments of members ';,)ith unpaid student loans: 
21 
Provided, That the collection of said repayments have bee,; formally authorized by a 
22 
resolution of the Board and are in accordance with the Merr:·'xandum of Agreement to 
23 
be signed by the Board with the GSIS and SSS, separately, , 
24 
25 
Exploratory activities shall include systematic testing:md rigorous evaluation of 
26 
ways to minimize the risk of non-repayment of loans and: collection costs, It shall 
27 
encourage private sector participation to ensure the delivery 1,5 the best possible service 
28 
suitable to the needs and objectives of the NSLP, 
' 
! 
29 
SEC. 26. Loan Repayment Scheme and Interest R,·';tes - In the formulation of 
30 
poliCies regarding the interest rate and loan repayment and collection scheme for the 
31 
NSLP, the following principles must be observed: 
32 
a) The Repayment scheme shouid ensure sustainabilit':; of the Loan Fund and at 
33 
the same time ensure that Student-Borrowers 
ar,'~ not overburdened with 
34 
repaying the loan; 
35 
36 
b) Fixed and variable interest rates on loans shall be (iade available to Student-
37 
Borrowers: Provided, That the interest rate and other charges take into account 
38 
the inflation rate, cost of administration and coliectiO,\. provision for default, and 
39 
the cost of government borrowing, to ensure the susti'linability of the Loan Fund 
40 
in real terms; 
. 
4 1 ;  
42 
c) Voluntary repayment of long-term loans shall start ~;nytime the loan borrower, 
43 
wants to pay even before finishing the course or h'wing gainful employment: 
44 
Provided, That a reduced rate shall apply, as may bejetermined by the Board; 
45 
d) A Student-Borrower who has signed a contra(' with the implementing 
46 
government agency may opt to render service, suc!' as teaching or research, 
47 
among others, subject to the guidelines which the Bhlrd shall formulate, in lieu 
48 
of cash payment for student loans; 
49 
50 
51 
52 
53 
13 
e) The Board shall be authorized to extend, based ">n evidence, the term of 
repayment in case the monthly salary and other. incomes of the Student-
Borrower shall have been assessed objectively to b(' inadequate to pay for the 
regular monthly loan repayments, as specified in" the original student loan 
contract agreed to by the Student-Borrower and the ["oard; 
~'"~ 


1 
2 
f) The government, through the DOLE, shall endeavor ;'0 give priority to Student-
3 
Borrowers under the program in facilitating possible :!o,mployment after finishing' 
4 
their higher or technical education. The DOLE is ~,reby mandated to adopt 
5 
pro-active policies, plans and programs to assist the Student-Borrower in 
6 
finding gainful employment after graduation. 
7 
8 
SEC. 27. Disqualifications and Limitations - lYle right of any student 
9 
beneficiary to avail himself/herself of the benefits of the sHldent financial assistance 
10 
programs under this Act shall not apply if the student Jails to comply with the 
11 
requirements for Good Academic Standing and such oth6" limitations that may be 
12 
formulated and imposed by the Board; 
13 
14 
SEC. 28. Signing of Contract - Each Grantee or StL ~Jent-Borrower shall sign a 
15 
contract of obligation with the Board and the implementing b~ency prior to the grant of 
16 
scholarship/grant-in-aid/student loan. Such contract shall incli·:·:Je the following: 
17 
18 
1) Return of service obligation for scholarship and gra' t-in-aid; 
19 
20 
2) Specific regular schedule of repayment agreement; 
21 
22 
3) Inclusion of a guarantor who is a GSIS or SSS mlmber in the student loan. 
23 
agreement; 
24 
25 
26 
27 
28 
29 
30 
31 
32 
33 
34 
35 
36 
37 
38 
39 
40 
41 
42 
43 
44 
45 
46 
47 
48 
49 
50 
51 
52 
53 
4) Prohibition from leaving the country until the rh;'quired return of service 
obligation, in the case of scholarship and/or grant-+aid, has been rendered 
in full or the amount of loan given to the Student-'·'orrower has been paid in 
full. 
In case the Student-Borrower intends to go abroad, t';?/she shall be required to 
pay the remaining balance of the loan granted under the NSL". 
In case the scholar or Grantee intends to go abroad el/;m before compliance with 
the return of service obligation stipulated in the contract, he/s;;e shall be required to pay 
the total amount of scholarship or grant-in-aid in lieu of the rehrn of service obligation. 
SEC. 29. Sanctions - Any Grantee or Student-Borrc:,ver found to have grossly 
violated any of the provisions of his/her contract with the iwi)lementing agency or the 
Board shall be meted the following sanctions: 
For Scholarships/Grants-In-Aid: 
1) Full payment of the amount equivalent to the scho:':lrship/grant-in-aid given to 
the scholar; 
2) Cancellation of passport in case the Scholar or C:'antee has left for abroad 
without notifying the Board and failing to comply \ ith the return of service 
obligation; 
3) Other sanctions as may be deemed necessary by j,he BOard to ensure timely 
collection of and/or full payment of the amount of sc;:olarshio or grant-in-aid in 
lieu of the return of service obligation. 
54 
For Student Loans: 
55 
14 


1 
1) Denial of further access to credit in any bank or government financia~ 
2 
institution; 
3 
4 
5 
6 
7 
8 
9 
2) Collection of the remaining balance of the loan from the guarantor in 
accordance with the terms and agreements stipulat':d in the contract; 
3) Filing of complaint with the Department of JustiCt after sufficient time and 
notice has been issued to the Student-Borrower wt-·;) has defaulted on his/her 
" 
loan payments, subject to the Constitutional prOl'sion 011 the right to due 
10 
11 
process; and 
12 
4) Other sanctions as may be deemed necessary by "Ie Board to ensure timely 
13 
collection of due student loan repayments 
14 
15 
SEC. 30. Voluntary Provision of Scholarship and.';;rant-(n-Aid by HEls. All 
16 
HEls are hereby encouraged to provide scholarships and ,grants-in-aid to poor but 
17 
deserving students representing at least five percent (5%) of '~Ie student population. 
18 
19 
SEC. 31. Tax Incentives_ An HEI may claim its total' xpenses for providing the 
20 
scholarship and grant-in-aid under this Act as tax deduc,ons in proportion to the. 
21 
scholarship given: Provided, That the total expenses shall 'ie allowed as deductions 
22 
from the HEI's gross income for the taxable year that the e'c-penses were incurred for 
23 
the scholarship: Provided, further, That the total amount of Ille claimed tax deductions 
24 
net of value-added Tax (VAT), if applicable, shall be includ8):i in their gross income or 
25 
revenues derived from their school operations for tax pUrpOl!;,S in accordance with the 
26 
provisions on allowable deductions covered by Chapter V" of the National Internal 
27 
Revenue Code of 1997, as amended .. 
28 
29 
SEC. 32. Audit of the UniFAST Trust Funds - The L',iFAST Trust Fund will be 
30 
subject to annual audit by the Commission on Audit (COA), (,:Ubject to existing auditing 
31 
laws and regulations. The COA shall discuss its findings witl~fhe implementing agency, 
32 
and make its findings available to the Board and the S'., keholclers Accountability 
33 
Council, and such findings will be used to improve the fin"ncial management of the 
34 
UniFAST Trust Funds. It shall also be used to pinpoint accol'ntability and responsibility 
35 
in the event that there is mismanagement or misappropriatior'0f the fund. 
36 
37 
SEC. 33. Performance Monitoring and Impact As,:9ssmEmt - The UniFAST 
38 
shall be evaluated rigorously by the Board in terms of its im(lct on desired results and 
39 
its progress towards achieving them shall be monitored r:"gularly. The Board shall 
40 
clearly define those results and their target values. Impact evi·luation. shall be measured 
41 
against, among others: 
42 
" 
43 
(i) education outcomes such as enrolment in good qu;'lity HEls and number of 
44 
graduates (by type of study program); 
45 
(ii) economic indicators such as income and employment; :md 
46 
(iii) Indicators for contributions to community service and r:1bJic good. 
47 
'. 
48 
Performance and progress shall, in addition, be m(;lsured with regard to: (i) 
49 
number of students covered by GIAs, scholarships and stL'~jent loans; (ii) by type of 
50 
study program, (iii) quality of HEI enrolled in, and (iv) initift: economic status. Tracer 
51 
studies and survey data for experimental and quasi-expeli-i-nental analyses shall be 
52 
undertaken to produce credible impact evaluation studies, as"may be determined by the 
53 
Board; Provided, That major programs of the Board are to t", evaluated within five (5) 
54 
years from the date of its implementation. 
55 
15 


1 
SEC. 34. Transitory Provision -
Existing techn;ral-vocational scholarship 
2 
programs under the Technical Education Skills Develop'[hent A.uthority (TESDA), 
3 
scholarships for members of indigenous peoples under the [Idigenous Peoples Rights 
4 
Act (IPRA), the National Agriculture and Fisheries EdJ::ationSystem (NAFES), 
5 
Agriculture Competitiveness Enhancement Fund Scholarsiiip (ACEFS), and similar 
6 
state-funded scholarship programs shall continue to be urJ;ler the jurisdiction of the 
7 
agencies currently responsible for their design and implemeJtation: Provided, That the 
8 
clientele-targeting and standards for selection and 
retent;-~Jn and awards shall be 
9 
compliant with the overall policies on quality, sustainability Bnd efficiency set by the 
10 
Board. 
11 
12 
Agencies currently responsible for the implementation 0' the Priority Development 
13 
Assistance Fund (PDAF) of legislators allotted for tertiar; level scholarships shall 
14 
continue with the present arrangements, until such time tha"more effective altemative 
15 
implementation arrangements have been formulated and tlJproved by the Board in 
16 
consultation with Congress. 
17 
18 
The above transitory provisions notwithstanding, the stipulations in the last 
19 
paragraph of Section 4 on submission of reports, selection >ansparency, the use of a, 
20 
Qualifying Examination System for Scoring Students, 
:~nd other requirements 
21 
mentioned therein shall be complied with upon the approval :,f the Implementing Rules 
22 
and Regulations of this Act. 
23 
24 
SEC. 35. Implementing Rules and Regulations -
Tt,!~ Board, shall, within sixty 
25 
(60) days from the effectivity of this Act, constitute a Techni'al Working Group (TWG) 
26 
composed of relevant stakeholders in higher and technical e;\\Jcation to promulgate the 
27 
implementing rules and regulations necessary for the proper :>nplementation of this Act, 
28 
to be submitted to the Board for its approval. 
29 
30 
SEC. 36. Congressional Oversight Committee. T"lere is' hereby created a 
31 
Congressional Oversight Committee composed of five ';'1embers each from the 
32 
Committees on Higher and Technical Education of the Senate! of the Philippines and the 
33 
House of Representatives. The members from the Senate 3;hall be appointed by the 
34 
Senate President based on proportional representation or the parties or coalitions 
35 
therein with at least two (2) senators representing the minor~y. The members from the 
36 
House of Representatives shall be appointed by the Speaker 'lisa based on proportional 
37 
representation of the parties or coalitions therein with at I'{ast two (2) congressmen 
38 
representing the minority. 
39 
40 
The oversight committee shall have the power to ovei:;ee the implementation of 
41 
this Act: Provided, that the Secretariat of the Oversight Com'ilittee shall be drawn from 
42 
the existing Secretariat personnel of the committees comprisi:;g the oversight. 
43 
44 
Funding shall be taken from the appropriations of both 'he Senate and the Housf3 
45 
of Representatives. 
46 
47 
SEC. 37. Appropriations - There is hereby appro(dated the sum of Twenty 
48 
Five Billion Pesos (P25 Billion), of which Fifteen Billion Pes\:s (15 Billion) shall come 
49 
from the President's Social Fund and another Ten Billion Pe<b')S (P10 Billion) from funds 
50 
in the National Treasury not otherwise appropriated, and co;Ysisting of existing student 
51 
financial assistance programs for higher and 
technical:'~ducation of all national 
52 
government agencies, branches and instrumentalities, to be used to finance the 
53 
institution of the UNIFAST. Thereafter, such other sums as'may be necessary for its 
54 
continued implementation shall be included in the Annual Gel '~ral Appropriations Act. 
55 
16 


, 
1 
The government shall also increase the total 
bu(l;~et for student financial 
2 
assistance at the rate of not less than the growth rate of thi, Gross Domestic Product 
3 
(GOP) for the next ten years, At the end of said period, I.;(e ratio of the budget for 
4 
student financial assistance shall have been increased fron~ten percent (10%) to fifty 
5 
percent (50%) of the total direct national government subsidy A SUCs, 
6 
7 
Other sources of funds such as grants, donations, an:' other forms of assistance 
8 
from local and foreign donor agencies and other public or: ,private entities and other 
9 
private domestic and international sources may be tapped a;,:d facilitated by the Board 
10 
to support the program, subject to regular auditing guidelir,:,s and procedures, Cost-
11 
sharing or counter-parting schemes among national governhent and LGUs shall also 
12 
be encouraged to support the implementation of the UNIFAS-; , 
13 
14 
SEC. 38. Separability Clause - If for any reason a Jy provision of this Act is 
15 
declared unconstitutional or invalid, parts or provisions of this !\ct which are not affected 
16 
shall continue to be in full force and effect 
17 
18 
SEC. 39, Non-Impairment Clause - Nothing in this A:t shall be construed as to, 
19 
diminish, impair, or repeal rights recognized, granted:' or made available to 
20 
disadvantaged, marginalized, or specific sectors under existin"llaws, 
21 
22 
SEC. 40. Repealing Clause - All laws, executive or,ers, presidential decrees, 
23 
implementing rules and regulations inconsistent with this A'.t are hereby repealed or 
24 
modified accordingly, including the provisions RA 8545 ;)n higher and technical 
25 
education, 
26 
27 
SEC. 41. Effectivity -
This Act shall take effect '~fteen (15) days after its 
28 
publication in a newspaper of general circulation, 
29 
30 
Approved, 
31 
17