MANILA - (UPDATED) The Senate of the Philippines on Monday approved on third and final reading a bill providing free tuition in state colleges and universities (SUCs).

The final vote for Senate Bill No. 1304 of the "Affordable Higher Education for all Act" was 18-0.

In a statement, Senator Bam Aquino, the bill's principal sponsor, thanked his fellow senators for supporting the measure.

"Nagpapasalamat tayo sa ating mga kasama sa Senado na sumuporta sa napakahalagang panukalang ito na makatulong sa napakaraming pamilyang Pilipino," he said.

"Ito'y patunay na kaya nating magtulungan sa pagsulong ng panukala at programa ng ating pamahalaan basta't ito'y para sa kapakanan ng taumbayan," Aquino added.

Aside from Aquino, other authors of the bill include Senators Ralph Recto, Joel Villanueva, Sherwin Gatchalian, Francis Pangilinan, Sonny Angara, Loren Legarda, Leila de Lima, Cynthia Villar, Juan Miguel Zubiri and Richard Gordon.

Aquino, who is now the deputy minority leader, was recently removed as chairman of the Senate Committee on Education.

The senator hopes that the institutionalization of free tuition in SUCs will lead to more college graduates.

Aquino said there are currently around 645,566 students enrolled in different SUCs, paying an average annual tuition of P9,407.

Under the bill, all Filipino citizens currently enrolled in SUCs and other covered institutions, as well as those who will enroll in the future in pursuance of a bachelor's degree, certificate degree or other similar undergraduate degree in any SUC, can qualify for the tuition subsidy as long as they meet the admission requirements of the SUC.

A SUC Tuition Subsidy Fund will also be established to provide full tuition subsidy to eligible students.

However, those who had attained a bachelor's degree or any equivalent degree, as well as those who had been discharged from any higher education institution or those who failed to complete their degree within a year after their prescribed period of study would be ineligible for the proposed tuition subsidies.

If enacted into law, the government will shell out around P16 million every year to subsidize tuition in SUCs.

The Commission on Higher Education (CHED) is also expected to streamline and strengthen all Student Financial Assistance Programs (StuFAP), making it available for students who want to study in private institutions, as well as subsidizing the expenses of SUC students.

The bill is expected to complement other existing policies and laws on scholarship programs such as the Iskolar ng Bayan Act, streamlining the Student Financial Assistance Program (StuFAP) found in the United Student Financial Assistance System for Tertiary Education (UNIFAST) in the UNIFAST Law, and other scholarships offered by the Commission on Higher Education, Department of Science and Technology, Department of National Defense, among other agencies.

• READ: Bam Aquino confident of passage of free tuition bill for SUCs