The Government Service Insurance System (GSIS) has started to reopen its educational assistance window in the Zamboanga Peninsula Region for all GSIS active members who did not avail of the 2012 GSIS Educational Assistance Program.
GSIS Branch Manager Leoncio Manuel in Pagadian City said that “GSIS is lending a helping hand to members by defraying their children’s education expenses.”
“Parents are hard-pressed on schooling costs at this time of the year. Under the educational aid program the loan carries a 6 percent 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.