The Government Service Insurance System is offering an educational assistance program until December 28, Cercilia Tenaja, GSIS Dumaguete branch manager, said in a press release.
The program was launched after President Benigno Aquino III announced on Labor Day the availability of a joint P11.2 billion Educational Assistance Fund from the GSIS and the Social Security System, the press release said.
Under the program, all active members of the pension fund, regardless of salary grade, are entitled to P4,000, payable in five years at six percent interest, Tenaja said, adding that the monthly payment is P20, through salary deduction.
The first loan payment will start three months after the release of the grant, she added.
GSIS will not require electronic certification from the employer or charge any service fee, which means that the members will get the full amount being loaned, the press release said.
The application can be filed in any GSIS office, designated agency liaison officer, or the GSIS website at www.gsis.gov.ph, where the forms can be downloaded. Interested members may call 479-3645 for details, the press release added.*
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