Student loan

Student loan refers to a modality of student financial assistance consisting of short-term or long-term loans which shall be extended to students facing liquidity problems, regardless of economic status, which shall be paid by the student, his/her parents, guardians, or co-makers. (Sec. 4(r), R.A. No. 10687, Unified Student Financial Assistance System for Tertiary Education (UniFAST) Act)