People apply for loans for things they want or need—houses, cars, weddings or even college tuition. It’s a quick way of getting that thing you’ve been eying, provided you don’t mind paying it all back and then some later on.
You are now reading the third part of our Commission on Higher Education (CHED) financial assistance series. The spotlight of this article now shines on the Study-Now-Pay-Later Plan, henceforth referred to as the SNPLP.
1. Background: Established by Republic Act 8545, the SNPLP is a little different from CHED’s other forms of financial aid in the sense that it’s a loan, not a scholarship per se.
Other than that, its nature is generally the same as that of the PESFA—meaning the SNPLP exists for the benefit of financially challenged, yet deserving students, and it involves priority courses at CHED-accredited learning institutions around the country.
2. Qualifications: Eligibility requirements are a little stricter this time around compared to the PESFA and SSGD:
- Applicants must be Filipino citizens.
- They must not already be recipients of any other grant or scholarship.
- The gross annual income of their legal guardians or parents must be no higher than 150,000.
- They must be enrolled in a CHED priority course (or at least they must plan to enroll in one.).
- If they’ve already earned college units, they should have received a general weighted average of at least 2.5 (or its equivalent) from their previous semester.
- They’re no older than thirty at the time of their loan application.
- They must have scored a minimum percentile rank of 75 on the National Secondary Achievement Test (NSAT).
3. Documents: If you’ve read the other articles in the CHED series, you probably already know what most of the required documents are. Nevertheless, there are a couple of new additions:
- For incoming freshmen only: Form 138 (your high school report card)
- For non-freshmen: statement of accounts and your official enrollment certificate
- For non-freshmen: a grade certificate or an official ratings report of the last semester you attended (Get this from your dean or school registrar.)
- The latest income tax return of your parents or legal guardians
- An SSS’ or GSIS’ member guarantor’s certification of loan or guarantee of loan
4. Application Process: The application process involved is very similar to that of the PESFA and the SGDD. All you have to do is to obtain an application form from one of two sources: a CHED regional office nearest you or the registrar’s office the private SNPLP-authorized school you’re attending.
Fill up the said form and turn it in along with all the other necessary documents to your authorized college registrar’s office and wait. Please note that it’s the CHED regional office that will inform you if you’ve made the cut or not.
Privileges and Contact Details
The SNPLP provides one and only one privilege for the successful applicant: a maximum loan of 7,250 pesos (per semester) for tuition and other school-related fees (books, board and lodging, school meals, etc.)
If there’s anything you need to clarify about the SNPLP, feel free to drop CHED a line at firstname.lastname@example.org. You may have a bit of trouble contacting them that way, though (The last e-mail message I sent them bounced back to me.).
Another alternative is to call them at (+632) 441-0750 or (+632) 441-1030. If you’d like to inquire about CHED regional offices other than the NCR branch, call (+632) 385-4388 or (+632) 441-1220 and ask for Miss MJ.