The Government Service Insurance System (GSIS) announced on Thursday, Dec. 21, that its educational loan applies to relatives of borrowers within the third degree of consanguinity.
“Ang GSIS GFAL, ginhawa for all ang ibig sabihin. Ito’y education loan ng GSIS na inaalok namin sa mga miymbero upang matustusan nila ang pambayad ng tuition fee at ibang pang school expenses ng kanilang anak o kamag-anak,” President and General Manager Jose Arnulfo “Wick” Veloso said in the latest episode of GSIS Ginhawa For All.
“Ang concept nito ay hawig sa study now, pay later at binibigyan natin ang borrower ng grace period para makaipon ng pambayad,” he added.
According to Veloso, here are the following qualifications for borrowers:
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Active members who are:
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At least 15 years length of service
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Has paid the latest three (3) monthly premium contributions for both Personal Share and Government Share at the time of application
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Is not on leave of absence without pay at the time of application
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Has no pending administrative and/or criminal case at the time of application
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Has no past due GSIS loan/s, including housing loan;
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Agency status is not “suspended”
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Has met the net take-home pay (NTHP) requirement under the General Appropriations Act.
“Sa kasalukuyan, ang kinakailangang net take home pay na required ng General Appropriations Act ay limang libong piso,” he said.
The GSIS chief said borrowers could have P100,000 per academic year.
“Sa ilalim ng educational loan ng GSIS, maaring makahiram ang borrower ng hanggang P100,000 para sa tuition at iba pang school fee bawat academic year,” he said.
For the qualifications of student-beneficiaries, Veloso stated the following:
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Qualified borrowers may nominate up to two (2) student-beneficiaries
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Must be a Filipino citizen and resident of the Philippines
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Must be related to the borrower up to the 3rd degree of consanguinity or affinity
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Must be enrolled in an undergraduate course with a maximum study period of five (5) years
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Must agree to act as Co-Maker on the loan upon reaching the legal age and in doing so, bind him/herself to the terms and conditions of the loan.
When asked why there was a clause for the student-beneficiary to be a co-maker, Veloso said the loan would be part of the student’s responsibility.
“Meron po tayong binigay na requirement na kapag sila ay nasa edad na, sila ay pipirmang co-maker sapagkat magiging responsibilidad din nila ang loan na ito para sila’y makapag-aral,” he said.
The GSIS chief also enumerated the documentary requirements that needed to be submitted when applying.
“Application form na kumpleto at tamang nasagutan ng borrower at co-maker at inindorso ng agency authorized officer ng opisinang pinaglingkuran. Photocopy ng latest tuition assessment form, kailangan ding ipakita ang original.” Veloso said.
“Photocopy ng school id na may tatlong pirma ng student-beneficiary. Kung hindi available ang school ID, maaaring isumite ang kahit anong valid government id na may date of birth, picture, at pirma ng estudyante,” he added.
According to Veloso, active GSIS members could apply for the education loan either using an over-the-counter option or going to the state pension fund’s branches.
“Maaring mag-apply ang member sa pamamagitan ng over-the-counter. Pumunta po kayo sa mga sangay ng GSIS at pwede rin po mag-email sa handling branch office ng member,” he said.
