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GSIS Education Loan is now available

GSIS Education Loan
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GSIS Education Loan is now available. Read more details below:

WHAT:
The GSIS Educational Loan is a new “study now, pay later” program intended for children and/or relatives of Active GSIS members who are currently pursuing a college degree. The maximum loanable amount is P100,000 for each School Year (SY), or a maximum of P500,000 (for a five-year college degree).

The loan term is ten (10) years, with a maximum grace period of five (5) years. This means loan repayment period shall only begin on the sixth (6th) year of the loan. The interest rate is 8% per annum.

WHO:
The GSIS Educational Loan is open to Active GSIS Members who have at least 15 years Length of Service. Qualified borrowers may nominate up to two (2) student-beneficiaries. Student-beneficiaries must meet the following requirements:

  1. Must be a Filipino citizen or resident of the Philippines;
  2. Must be related to the member-borrower up to the 3rd degree of consanguinity or affinity:
  3. Must be enrolled in an undergraduate course with maximum study period of five (5) years; and
  4. Must agree to act as Co-Maker on the loan upon reaching the age of majority (i.e., 18 years of age) and in doing so, binds him/herself to the terms and conditions of the loan.

HOW TO APPLY (documentary requirements):

  1. Submit the following documents via eGSISMO, email or dropbox (Only EL applications duly-certified by AAOS shall be accepted by GSIS): duly -accomplished Education Loan (EL) Application Form; Photocopy of the Latest Tuition Assessment Form (original to be presented); and, Photocopy of School ID of Student-Beneficiary, with 3 signatures of student-beneficiary affixed on same page. (Note: If School ID is not available, any valid government ID showing the date of birth, picture and signature of the student-beneficiary will be accepted).
  2. Wait for GSIS Handling Branch employee to contact you for 1.) tentative loan computation (via email) and 2.) loan counselling session (via video conference)

Read more: News and Updates


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