Section 6
SEC. 6. A new Section 7-B is hereby inserted to read as follows: "SEC. 7-B. Private Education Assistance (PEA). - To uphold complementarity between public and private education, and to enable disadvantaged students to enroll in priority programs in CHED-recognized private HEIs and TESDA-registered TVIs, there shall be established a private education assistance (PEA). The PEA shall be governed by the following parameters: (a) Student Eligibility - The assistance shall be targeted toward poor and deserving students, as determined by the UniFAST Board. The PEA shall be awarded to applicants based on the ranking of their household per capita income, using th most recent available data from the official poverty assessment system adopted by the National Government or other verifiable proof of income as may be determined by the UniFAST Board: Provided, That said students are enrolled in programs identified as priority by the CHED allocate funds by considering the regions with greatest need for such graduates, vis-a-vis available programs offered predominantly by private HEIs and TVIs: Provided, further, That the UniFAST Board shall also ensure that this assistance complements the TES under Section 7 of this Act, by addressing the eligibility of student who may not be covered by existing grants; (b) Qualifications of Private HEIs and TEVIs - To qualify for the PEA program, the private HEIs and TVIs shall meet the quality standards prescribed by the UniFAST Board including, but not limited to, program accreditation levels, performance in licensure examinations, school facilities, and other quality assurance mechanisms; (c) Amount of Assistance - The UniFAST Board shall commission a study to determine the normative cost of learning of tertiary education in CHED-recognized private HEIs and TESDA-registered private TVIs. This study shall serve as the basis for setting the nominal value of the PEA, which shall be subject to review every two (2) years to account for inflation and changes in education costs; and (d) Pilot Implementation - Upon the effectivity of this Act, the UniFAST Board, through the CHED and TESDA, shall conduct a pilot implementation of the PEA for a period of not more than three (3) years prior to full-scale implementation, subject to availability of funds."