Gov't urges public school teachers to avail GSIS loan facility
By AJ Siytangco
Published Jul 6, 2018 03:05 pm
By Genalyn Kabiling
The government is urging public school teachers to avail of the loan facility by the Government Service Insurance System (GSIS) to pay their debts from private lenders.
Presidential Spokesman Harry Roque said the GSIS Financial Assistance Loan program aims to help Department of Education (DepEd) teachers and personnel manage their finances and prevent them from sinking deeper into debt.
Presidential spokesperson Harry Roque
(CAMILLE ANTE / MANILA BULLETIN) According to Roque, the GSIS offers affordable terms for the payment of loans to ease the financial burden of DepEd personnel. "Kung ikaw ay isang guro at ikaw po ay mayroong mga pagkakautang doon sa mga iba’t-ibang mga lending company, eh pupuwede po kayong pumunta sa GSIS Financial Assistance Loan Program ," Roque said in a radio interview. "Ang gagawin ng GSIS pauutangin nila kayo para mabayaran mo iyong mga pagkakautang mo diyan sa mga private lending companies na napakatataas ng interest. At ito naman pong GFAL ay mas mababa ang interest, 6% lamang at mas matagal iyong terms para bayaran iyong pagkakautang ," he added. In extending the financial aid, Roque said the government was aware that many teachers have difficulty paying their debts to private lending institutions. "Napakadaming teacher po na halos wala nang natitira doon sa kanilang mga suweldo dahil ito nga po ay nababayad sa private lending companies at iyong mga iba pa nga ay hino-hostage iyong ATM para maibawas na iyong interest at iyong principal ," he said. "So ito na po iyong pagkakataon na makaalis tayo sa ganiyang pagkakautang at mayroon pang libreng training galing sa GSIS dahil alam naman natin na kapag ikaw ay nabaon sa utang, eh medyo kinakailangan mo ng tulong doon sa financial planning na tinatawag ," he added. Under the GFAL, qualified members can borrow as much as P500,000 provided their take-home pay will not be lower than P5,000 after their monthly obligations have been deducted. The loans must be paid in monthly installments for six years at six percent interest rate per annum. The payments will be deducted from the borrower's salary.
Presidential spokesperson Harry Roque(CAMILLE ANTE / MANILA BULLETIN) According to Roque, the GSIS offers affordable terms for the payment of loans to ease the financial burden of DepEd personnel. "Kung ikaw ay isang guro at ikaw po ay mayroong mga pagkakautang doon sa mga iba’t-ibang mga lending company, eh pupuwede po kayong pumunta sa GSIS Financial Assistance Loan Program ," Roque said in a radio interview. "Ang gagawin ng GSIS pauutangin nila kayo para mabayaran mo iyong mga pagkakautang mo diyan sa mga private lending companies na napakatataas ng interest. At ito naman pong GFAL ay mas mababa ang interest, 6% lamang at mas matagal iyong terms para bayaran iyong pagkakautang ," he added. In extending the financial aid, Roque said the government was aware that many teachers have difficulty paying their debts to private lending institutions. "Napakadaming teacher po na halos wala nang natitira doon sa kanilang mga suweldo dahil ito nga po ay nababayad sa private lending companies at iyong mga iba pa nga ay hino-hostage iyong ATM para maibawas na iyong interest at iyong principal ," he said. "So ito na po iyong pagkakataon na makaalis tayo sa ganiyang pagkakautang at mayroon pang libreng training galing sa GSIS dahil alam naman natin na kapag ikaw ay nabaon sa utang, eh medyo kinakailangan mo ng tulong doon sa financial planning na tinatawag ," he added. Under the GFAL, qualified members can borrow as much as P500,000 provided their take-home pay will not be lower than P5,000 after their monthly obligations have been deducted. The loans must be paid in monthly installments for six years at six percent interest rate per annum. The payments will be deducted from the borrower's salary.