Philippines

President Duterte witnesses signing of pact to help teachers settle loans

BMO Critical Illness

Kabayan, Pumunta tayo ng Canada ubang maghanap-buhay at mag-ipon para sa ating pamilya at sa ating kinabukasan. Ngunit may mga bagay na hindi po natin kontrolado. Kung sakaling ikaw ay magkaroon ng malubhang sakit at di makapag trabaho, o kaya’y biglang sumawing palad at naiwanan ang iyong asawa’t mga anak. Paano po sila? Tumawag po sa 780-807-4743 (Edmonton), 1-403-400-0983 (Calgary), 1-604-446-6140 (Vancouver) at alamin kung paano ka maging handa sa mga di inaasahan.

PRRD witnesses signing of pact to help teachers settle loans
By Jelly Musico

MANILA (Philippines News Agency) — President Rodrigo Duterte on Monday witnessed the signing of an agreement that would help hundreds of thousands of teachers and non-teaching personnel free themselves from burden of loans and over-borrowing.

The Department of Education (DepEd) and the Government Service Insurance System (GSIS) signed a memorandum of agreement (MOA), which stipulates that teachers and other DepEd personnel can apply for loans under the GSIS Financial Assistance Loan to DepEd Personnel (GFAL) to facilitate the payment of their loans from private lending institutions (PLIs).

“We don’t want DepEd employees to sink deep into debt, so we have proposed a better way for them to manage their finances,” GSIS President and General Manager Jesus Clint Aranas said.

Aranas said having several loans have weakened the capability of teachers and DepEd personnel to pay their monthly GSIS premiums and contributions.

“Payment of their GSIS premiums and loans usually take a back seat. If the practice continues, their future GSIS benefits are bound to suffer,” he said.

Under GFAL, the qualified members’ existing loans with private lending institutions (PLIs) will be refinanced by GSIS with 6 percent per annum interest rate and a longer loan term of up to six years.

Qualified members may borrow up to PHP500,000, provided that their take-home pay will not go lower than PHP5,000.

DepEd Secretary Leonor Magtolis Briones emphasized that the GFAL is voluntary, giving teachers and non-teaching personnel of DepEd the option to get out of indebtedness with PLIs.

She said the GFAL would also ensure the preservation of the benefits of the teachers and other personnel in the GSIS.

The project reinforces the issuance of DepEd Order No. 38 in July last year, reiterating the instruction to prioritize premium and loan payments for GSIS.

If a private lender has filed a case against GSIS members for nonpayment of obligations after GSIS loan payments have been prioritized by virtue of DO 38, such members are still eligible to apply for GFAL. (PNA)

Young Living Canada

Learn about what Young Living Essential Oils can do for you and your family. Call 780-807-4743 or visit our website https://www.youngliving.com/en_CA

 

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s