To commemorate the installation of Dr. Brian Belen as FAITH Colleges’ new president, and to celebrate Mr. Saturnino Belen’s 20-year tenure as FAITH Colleges’ first president, the School established the First President’s Endowment Fund under the FAITH Arts and Science Foundation Inc. (FASFI).
The P72 million endowment fund is envisioned to provide academic financial assistance to undergraduate students of FAITH Colleges starting AY2021-2022.
Towards this, Mr. Belen made an initial P12 million donation, with a counterpart contribution of P36 million from First Asia, for a total of P48 million seed fund.
The funds donated to the endowment shall be used for the sole purpose of granting “Study Now, Pay Later” (“SNPL”) loans to students continuing their education at FAITH COLLEGES. Such grants will be non-interest bearing on the part of the grantees.
All contributions to the endowment fund will be coursed through the FAITH Arts and Science Foundation.
The signing ceremonies broadcasted live via zoom on 19 July 2021, was attended by Elizabeth L. Carta, executive director of First Asia Venture Capital Inc; Juan P. Lozano, president of the FAITH Arts and Science Foundation Inc; Dr. Brian L. Been, president of FAITH Colleges; and Mr. Saturnino G. Belen, chairman of First Asia Venture Capital and the major DONOR to the endowment fund.