PAGADIAN CITY -
The Government Service Insurance System (GSIS) has started to reopen its
educational assistance window yesterday for all GSIS active members who did not
avail of the 2012 GSIS Educational Assistance Program.
In a press statement, GSIS
President and General Manager Robert G. Vergara said, “Parents are hard-pressed
on schooling costs at this time of the year. Under the educational aid
program, GSIS lends a helping hand to members by defraying their children’s
education expenses.”
Leoncito S. Manuel, GSIS branch
head here, said the loan carries a 6% interest rate and does not require any
approval from the employer. Active members, regardless of salary grade, may
apply for the financial aid amounting to P4 thousand.
He said a member will start
paying a P20 monthly amortization three months after the loan is
granted.
It can be recalled that GSIS
launched the new loan program last year, immediately after the Labor Day
announcement of President Benigno C. Aquino III, directing both GSIS and SSS to
establish an educational assistance fund for their stakeholders.
Under the program, GSIS has
released over P2.45 billion to more than 600,000 state workers who availed themselves
of the educational loan.
The pension fund also recently opened 200 slots under the GSIS
Scholarship Program for academic year 2013-2014. Government employees
with salary grade 24 (earning approximately P50 thousand) or below may nominate
their children to the program, if they are incoming freshmen in any university
or college accredited by the Commission on Higher Education (CHED).
A GSIS
scholar is entitled to tuition and miscellaneous fees not exceeding P20,000 and
a monthly stipend of P2,000.
Loan application forms may be obtained from
any GSIS office and/or downloaded from the GSIS website: www.gsis.gov.ph. (PIA9)
