The Knights will face the winner of the FEU-PCU semifinal contest, which was still in progress as of press time at 4 pm yesterday while the Lancers will play for third place against the loser of that game.
Again, it was another lost opportunity for the Lancers in their bid for their first national title under coach Elmer "Boy" Cabahug, who is still going up for the elusive crown since coaching UV for the past five years.
It was still everybody's ballgame in the final 1:30 of the fourth period as the score was tied at 66-all.
The Lancers could have taken the lead back but Jayford Rodriguez and Kim Calo missed costly free throws that could have change the tide of the game.
NCAA most valuable player Boyet Bautista heaved in a go-ahead triple, 69-66, with 26 seconds to go and Cebuano point guard John Paul Alcaraz formerly from CIT, converted two important charities for the, 71-66, outcome.
Alcaraz topscored for Letran with 21 points followed by the high-leaping Aaron Aban with 17 points.
Rodriguez led the Lancers offense with 21 points while CESAFI MVP Mark Ababon had 13 points even as Kim Calo and Ariel Mepaña had 10 points each.
Morsie Akad and Eulogio Lasala Jr. were not in the scoring column for UV.