Teachers Express Concerns Over Accrued Interest Amidst Proposed Loan Moratorium

Education Secretary Sonny Angara has reached out to private financial institutions, requesting a pause on loan payments for teaching and non-teaching staff. This measure aims to alleviate the financial strain on those significantly impacted by recent typhoons.

In his letter, Secretary Angara specifically asked for a three-month suspension of loan payments for Department of Education (DepEd) employees directly affected by the typhoon. He suggested that this moratorium begin in January 2025, with payments resuming in April 2025.

Several public school teachers have voiced their concerns despite the intent to provide relief. A primary worry is the potential for increased interest accrual by the Government Service Insurance System (GSIS) once the moratorium concludes as this has happened in the last moratorium during the COVID-19 pandemic.

Here are some of the reactions from public school teachers upon learning about this proposed loan moratorium:

"Sure ba kayo dito? Eh bakit nung kasagsagan ng COVID nagkaroon din ng ganitong moratorium. Bali 4 months yun, kaso na-extend naman ang loan ko ng 6 months. Ang sabi nila para sa accrued interest daw yung 2 months?!"

"Kung ganyan po ang ibig sabihin, bakit pO ang GSIS, ay magkaroon ng acrued interest noong pandemic?"

"Nag aa arrears po Yan. Useless ang moratorium kasi kahit ei follow ng PLI at ng GSIS sa system nila it will appear unpaid. Had a bad experience during the pandemic."

"Accrued interest is waving!"

"It's bad news not good. It adds another burden on our part due to additional interests."

Teachers are advocating for the provision of the Service Recognition Incentive (SRI) and Productivity Enhancement Incentive (PEI) rather than a loan moratorium, as these incentives would provide them with additional financial support during these challenging times.

"SRI at PEI sna ang trabahoin nu instead of Loan moratorium"

"SRI ibigay. Yan po ang sagot."

"SRI na lang po please."

"SRI lang kailangan nmin hindi ang moratorium"