Study Now, Pay Later and Student Loan Options for Filipino College Students

What RA 10931 actually covers

The Universal Access to Quality Tertiary Education Act (RA 10931), signed in 2017, removes tuition and other school fees at state universities and colleges (SUCs), local universities and colleges (LUCs), and TESDA-accredited technical vocational schools. Private colleges and universities sit outside this free tuition provision, so a student enrolled at a private school still pays full fees regardless of the law.

Why the law's loan program does not help yet

RA 10931 also directed the UniFAST Board to set up an income-driven student loan program, with repayment deducted from a graduate's SSS or GSIS contributions once employed. A November 2025 review citing the second Congressional Commission on Education (EDCOM II) found most of UniFAST's mandates under the law, including this loan program, still not operating years after passage, according to a Philippine Star report.

Students planning around a government loan under RA 10931 should treat it as unavailable until UniFAST confirms it is live.

Tertiary Education Subsidy

UniFAST's Tertiary Education Subsidy (TES) gives qualified students up to PHP 20,000 per academic year in SUCs/LUCs, or up to PHP 27,000 per academic year in private HEIs, toward tuition and other school costs. TES helps, but the amount covers only part of tuition at most private universities, so families combine it with other funding.

LandBank's i-STUDY loan

The Land Bank of the Philippines runs the Interim Students Loan for Tuition toward Upliftment of Education for the Development of the Youth, known as i-STUDY. Parents, guardians, or benefactors borrow up to PHP 150,000 per student and up to PHP 300,000 per borrower, at a fixed 5 percent yearly interest rate.

LandBank credits the loan directly to the school's account rather than the borrower, and tertiary-level loans run up to three years including a one-year grace period, with monthly amortization auto-debited from the borrower's LandBank account. Details are on the Department of Finance announcement of the program.

DBP's Higher Education Loan Program

The Development Bank of the Philippines works with CHED and UniFAST on the Student Loan Program for Tertiary Education (SLPTE-ST), which gives short-term loans for tuition and other school fees at public and private schools. Check current loan amounts, interest rate, and eligibility directly with DBP before applying, since these terms are not fixed by law the way TES amounts are.

School-based study now pay later plans

Many private universities run their own installment or deferred payment plans, letting students pay tuition across the semester instead of in one lump sum at enrollment. Some schools, including members of the PHINMA education network, partner directly with LandBank so the bank extends credit to the school and the student repays over an agreed schedule instead of paying tuition up front. Ask your school's cashier or student finance office what in-house plan exists before turning to an outside bank loan, since school-based plans often carry lower cost and simpler paperwork than a separate loan application.

Commercial bank education loans

Several commercial banks in the Philippines run add-on education loan products alongside personal loans, marketed toward parents covering a child's tuition. Rates, amounts, and terms change by bank and by year, so compare current offers from more than one bank directly rather than assuming a fixed number, and read the fine print on late fees and prepayment before you sign.

Putting it together

1. Apply for TES through your school's financial aid office first, since it is a grant, not a loan.

2. Ask your school about an in-house installment or study now pay later plan.

3. Compare LandBank i-STUDY and DBP HELP if you need a larger loan than an in-house plan covers.

4. Treat the RA 10931 UniFAST student loan program as not yet available, and check back with UniFAST directly before counting on it.