Quezon City Representative Precious Hipolito Castelo has filed House Bill No. 1015 which seeks to authorize government-owned banks to open a special loan window for public school teachers and prescribing a low-interest rate for its repayment.
"Teachers should be enabled or better still empowered to lead simple but decent lives free from the dangers or risks of having to borrow money or financial resources from 'loan sharks' who now have run a profitable cottage industry catering to the rather sad socio-economic plight of a sizeable population in the teaching profession", said Hipolito in her explanatory note.
If this bill turns into law, public school teachers will be able to avail loans from government-owned banks with low-interest rates compared to what they are used to.
"Under this proposal, government-owned banks are authorized to open a special loan window that would cater to granting financial aid or assistance to teachers in the public sector who wish to avail of loans at interest rate comparatively lower than prevailing interest rates," she added.
Special Loan Window for Teachers with a Low-Interest Rate in Government-Owned Banks Pushed
Reviewed by Teachers Click
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April 13, 2021
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Reviewed by Teachers Click
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April 13, 2021
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