SAN FERNANDO CITY, LA UNION, May 9 (PIA) — The Government Service Insurance System (GSIS) La Union Branch is now accepting applications for the Educational Assistance Program to help members shoulder the education expenses of their children up to the second semester of the school year.
The education assistance program was launched following President Benigno S. Aquino III’s Labor Day announcement on the availability of a joint P11.2 billion Education Assistance Fund from Social Security System (SSS) and GSIS.
Under this program, all active members of the pension fund, regardless of salary grade, length of service, status of agency and member account (i.e. up-to-date, in arrears or suspended) are entitled to P4,000 loan payable in five years at 6 percent interest rate per annum.
Monthly payment for the loan is only P20.00 through salary deduction. Application will run until December 28, this year.
The first payment of the loan will start three months after the grant. The application may be filed by the members over-the-counter (OTC) or through his agency’s liaison officer.
The approval of the educational assistance application will not require certification from the Agency Authorized Officer (AAO) or endorsement from the agency.
State Pension Fund President and General Manager Robert G. Vergara said that the pension fund will neither require electronic certification from the employer nor charge any service fee. “This means that members will get the full loan amount,” Vergara said.
The proceeds of the assistance will be ecredited in the UMID eCard or temporary eCard of the member not earlier than May 10, 2012.
Members may file their application through the following: any GSIS office; designated agency liaison officer; and the GSIS website, http://www.gsis.gov.ph, where the forms can be downloaded.
For inquiry about the GSIS educational assistance program, members may call the GSIS hotline at 479-3645 or visit the nearest GSIS office. (ANL/EMR-PIA 1 La Union with report from GSIS)