Question & AnswerQ&A (Republic Act No. 10687)
Republic Act No. 10687 shall be known as the "Unified Student Financial Assistance System for Tertiary Education (UniFAST) Act."
The main policy objective is to promote social justice by providing all citizens access to quality tertiary education, especially poor but academically able students, through adequate funding and mechanisms for equitable and rationalized access to education.
The key modalities of StuFAP include Scholarships, Grants-in-Aid, Student Loans, and Special Purpose Education Assistance.
The UniFAST Board is composed of the CHED Chairperson as ex officio Chairperson; the Secretaries of the Department of Science and Technology and the Department of Education as Co-Chairpersons and members; and representatives from TESDA, DOLE, NEDA, and the National Youth Commission as ex officio members.
Applicants must be Filipino citizens, high school graduates or equivalent, possess good moral character with no criminal record (subject to exceptions), admitted to an accredited HEI or TVI, meet additional criteria for TVET programs, declare other financial assistance received, meet qualifying examination scores (for scholarship applicants), and any other qualifications prescribed by the Board.
The UniFAST covers all existing nationally funded modalities of StuFAPs for tertiary education in both public and private institutions, including scholarships, grants-in-aid, student loans, and government programs in partnership with other stakeholders.
Failure to maintain good academic standing or comply with conditions set by the Board may lead to disqualification, but supervening personal circumstances like illness or death in the family are considered before revocation.
The Board develops policies for the National Student Loan Program, ensures professional management, sets accountability measures, encourages private sector participation, and coordinates with agencies for loan repayment mechanisms including automatic salary deduction.
Implementing agencies must keep separate books of accounts for UniFAST funds following government accounting rules, prepare mid-year and annual reports with financial statements and accomplishments, and these reports are submitted to Congress and made available to interested parties.
Rationalized Access refers to efficient implementation of UniFAST based on principles of increased participation of economically disadvantaged sectors, equitable resource distribution, alignment of graduate qualifications with labor market needs, and relevance to national development and global competitiveness.