MANILA — The Commission on Higher Education (CHED) has issued an order allowing the release of financial benefits under the Student Financial Assistance Programs (StuFAPs) directly to higher education institutions (HEIs) effective this Academic Year 2014-2015.
According to CHED Memorandum Order No. 16, s.2014, there are four modes of payment in the release of financial benefits by CHED Regional Offices (CHEDROs).
CHEDROs may release financial benefits directly to scholars/grantees/beneficiaries; transfer financial benefits through HEIs with 10 or more beneficiaries; authorized banks; and directly to participating HEIs.
The transfer of financial benefits to participating HEIs should have received recommendation to Administrative, Finance and Management Services (AFMS) from CHED. HEIs must have the list of names and information on the beneficiaries under the said program.