Education has always been a prioprity to all, others would go for scholarship, others would go for a part time job, while others would go for all kinds of loans to sustain education just to send thier children to shool.
If you are worrying where to get the money for the next school year, try to ask your parents or your HOH (Head of Household) if they if he/she is member of SSS and have been consistenly paying his/her contribution. It is because members whose earnings is P25,000 and below per month can now apply for an SSS Educational Loan.
Regular members earning P25,000 and below per month can lend as much as P20 ,000 per semester and even trimester , much higher from the original limit of P15 ,000 for college degrees . For voc-tech courses , the loanable amount was increased to P10 ,000 compare to the previous cap amounting P7 ,500 per semester or trimester.
Loan beneficiaries can be the SSS members themselves or their children, while unmarried members can designate their siblings, including their half-brother or sister.
Loan repayment is also not burdensome as it will only start one year after the beneficary's graduation or the date of last loan release. Borrowers for college degree programs have five years to repay the loan, while those who borrowed for voc-tech courses are given three years.
Get your form and check out the specific requirements here.
