New college scholarship bill readied for PNoy signature; over 1M high school grads to benefit

A bill meant to speed up and improve the grant of college scholarships, grants-in-aid and low-cost educational loans to financially needy students will soon be ready for President Benigno Aquino III's signature after the Senate and House of Representatives ratified the measure.

 

The proposed Unified Financial Assistance System for Higher and Technical Education (UniFAST) law is expected to cover over 1 million graduating high school students who do not qualify for the Iskolar ng Bayan program, the new initiative that ensures the top 10 graduates of every public high school will be entitled to admission to state universities and colleges without having to pay for first-year tuition and miscellaneous fees.

 

Under the UniFAST Act, all existing publicly-funded national government programs for scholarships, grants-in-aid and student loans for tertiary education will be synchronized by a board based on a unified and definite set of guidelines and targets.

 

The scholarships and grants-in-aid provided under the measure will cover the cost of tertiary education, which includes tuition, miscellaneous and other school fees; books and other education expenses; and cost of living allowance.

 

The UniFAST board shall consist of the heads of the Commission on Higher Education (CHED), Department of Science and Technology (DOST), and the Technical Education and Skills Development Authority (TESDA); one representative each from the Department of Labor and Employment (DOLE) and the National Economic Development Authority (NEDA); and four representatives from associations of private higher educational institutions.

 

Aside from synchronizing publicly-funded scholarships, the UniFAST Act also mandates the development of a self-sustaining National Student Loan Program (NSLP) that will provide qualified students short-term and long-term financial assistance for tertiary education.

 

House higher and technical education chair Pasig City Rep. Roman Romulo, one of the main proponents of the measure in Congress, said the UniFAST law will address the problems of needy students suffering from lack of financial assistance, as well as the sudden “abandonment” of students who were granted financial assistance for one year but were left to fend for themselves the following year.

 

“UniFAST will address all these issues, which have been attributed to the fragmentation of aid programs, the flawed targeting of recipients, and the insufficient allocation of funds per student. With UniFAST in place, we will have a fairly cohesive and well-managed student financial aid plan that is highly responsive and relevant,” he said.

 

This year, the national government is spending some P7.7 billion for post-secondary scholarships. Of this amount, P3.5 billion are allocated for the country’s 112 state universities and colleges.  — ELR, GMA News