DEPED HOPES TEACHERS LOAN TO BE RECONSOLIDATED IN ONE FINANCIAL INSTITUTION - DEPED SPOX

DEPED HOPES TEACHERS LOAN TO BE RECONSOLIDATED IN ONE FINANCIAL INSTITUTION - DEPED SPOX

In an interview on ONE NEWS, DepEd Spokesperson Atty. Michael Poa says they are hoping to reconsolidate teachers' loans to one financial institution with better interest rates or an amortization period.

Poa explains this is because educators usually borrow money from private lenders who put higher interest rates, leaving teachers suffering from penalties from loans.

He also said that the concerns in DepEd Loans there is a higher perception that GSIS loans have higher interest rates.

The problem with the private lender was that they also have agreement (lender and borrower) about automatic salary deduction and that something that DepEd should review.

Due to that, he said that the government have a MINIMUM TAKE HOME PAY, so what used to happen in the past is because all this loans in a private lender will be automatically deduct.

'Pagdating po sa GSIS loans,  they are no longer deducted and so the teachers end up suffering SURCHARGES,/ PENALTIES because of late payments or no payments at all"

He also said that the GSIS have tried to do something about this concerns during the last administration that is why it is one of top priorities under the leadership of our DepEd Secretary VP Sara Duterte.

DepEd is hoping  that teachers loan is to be reconsolidated in one financial institution

Vice President Sara Duterte has promised to look after the welfare of the Department of Education’s (DepEd) teaching and non-teaching personnel once she assumes office in July this year.

Duterte expressed concern about the status of some teachers who are “deep in debt” due to the presence of loan sharks within the agency.

“That is the sad reality for our teachers. I saw it when I was the mayor of Davao City,” Duterte said.

VP Sara narrated that a teacher who is not from Davao City approached her office and asked for help about her loan.

She said she was saddened upon knowing the teacher only received a salary of PHP1,000 per month as the huge part of her income went to her loans.

“They were enticed by companies who offered them loans. They were paying big interest rates,” Duterte said.

“That is where the sad story is. How you can expect the teachers to work religiously if they are confronted with such a problem,” she said.

Duterte expressed concern that teachers bombarded with personal problems could affect the quality of instruction in schools.

“I only have six years to work with you and to improve your welfare and the quality of education in our country,” Duterte said.

“I am soliciting your support that we may come up with something concrete to improve the welfare of the teaching and non-teaching staff of the DepEd, and see a better country with learners that are disciplined and patriotic,” Duterte said.

She also mentioned her commitment to producing skilled learners during her stint as DepEd secretary.

source: ONE NEWS