May 252013
Need to enroll for college but short in cash? You may avail of the Social Security System or Government Service Insurance System education loans as long as you are an active contributing member with a monthly income of P25,000 or below, a television report on Friday said.

SSS can provide up to P20,000 educational loan in one semester for a college student taking up a four-year course, Sherrie Ann Torres reported on GMA’s “24 Oras” on Friday.

For those taking up vocational course, SSS can extend P10,000 loan.

“After the four-year course plus the one year grace period, so our member starts paying or amortizing for six years. Three percent lang lumalabas ‘yung loan sa SSS so very affordable ang loan repayment,” said Luz Generoso, assistant vice president at SSS Loans and Assets Management Department.
In April, SSS president and chief executive officer Emilio de Quiros Jr said members earning P25,000 and below per month are now eligible for Educ-Assist loans from the previous P15,000 maximum monthly income requirement.

Meanwhile, for GSIS members, the state-run agency provides one-time educational loan for its members worth P4,000, the “24 Oras” report said.

GSIS also provides scholarships to 200 incoming college freshmen, whose parents are from low to middle ranking regular government employees.

A scholar with a four-year college course will receive P20,000 per semester and a monthly allowance of P2,000.

“Dapat incoming freshman ka, so dapat magsimula tayo sa umpisa. Basta po ang bata ay nakapasa doon sa eskuwelahan na kanyang napupusuan [pwede na kayong mag-apply ng scholarship],” noted Irene Tayag, GSIS manager for corporate communications.

The television report said parents may also avail of a consolidated loan worth ten times their monthly salary with a 12 percent yearly interest.

Also, the report said all schools, public or private, must have a student education assistance program, which provides scholarships or discounts to students.

For more information on SSS loan application, please click here. For GSIS, follow this link.

Rouchelle R. Dinglasan /LBG, GMA News

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