GSIS Education Loan is now available

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)

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