Under the GFAL-Educational Loan (GFAL-EL), the maximum amount that may be borrowed per academic year is Php100,000 covering tuition and other school fees. The interest rate is only 8%.
A GSIS member may nominate up to two student-beneficiaries under the program. The two must be related to him or her up to the third degree of consanguinity or affinity and enrolled in a four-or five-year course in a private or public educational institution.
The loan proceeds will be directly paid to the school under the student’s account every semester or trimester until the beneficiaries finish their courses.
Members, including special members, who have at least 15 years of service may apply for the loan. They must not be on leave of absence without pay, have no pending administrative or criminal case, and have no past due GSIS loans (including housing loans).
They must also meet the required net take-home pay of Php5,000 after deduction of their monthly premium contributions and loan amortizations, and their agencies must not be on suspended status.
The documentary requirements for GFAL-EL are: (1) properly filled-out application form signed by the member-borrower and duly indorsed by his or her agency’s authorized agency officer; (2) photocopy of the latest tuition fee assessment form; (3) photo copy of school ID (front and back) with three signatures of the student-beneficiary. If the school ID is not available, the borrower may submit any valid government-issued ID with photo, signature and date of birth of the student. If the member has a second student-beneficiary, the same documents are required to be submitted.
Educational Loan APPLICATION FORM - DOWNLOAD
For other details on the program, interested parties may visit the GSIS website, www.gsis.gov.ph, or official Facebook page, @gsis.ph; email gsiscares@gsis.gov.ph; or call the GSIS Contact Center at 8847-4747 (if in Metro Manila) or 1-800-8-847-4747 (for Globe and TM subscribers) or 1-800-10-847-4747 (for Smart, Sun, and Talk ‘N Text subscribers).
Source: Government Service Insurance System
GSIS Study-Now, Pay-Later Program (Download: Loan Application Form)
Reviewed by Teachers Click
on
November 04, 2020
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Reviewed by Teachers Click
on
November 04, 2020
Rating:
why offer a loan program exclusive only to those working for 15 years? discriminatory
ReplyDeleteYes
ReplyDeleteF i am going to avail... How much is the monthly amortization and how many years to be paid?
ReplyDeleteSana mayroon din ganitong program para s active members ng GSIS...One of the many reasons for teachers not enrolling in post graduate degrees eh yong financial problem kasi may mga pinapaaral din n mga anak..sana pwede kasi dalwang beneficiaires..baka pwede yung active member ang isa s mga beneficiary..Thank you po..
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